Application form
Fri, Mar 20th, 2015 / Venture projects / by and « Back

Should you follow the application form when submitting the project?

Unfortunately, there is no unified database of innovative projects that seek investments and investors looking for projects to invest in. Therefore, there is no unified format to submit investment applications.

However, there are objective reasons for this where both projects and investors have their own peculiarities, requirements, and preferences. If a database acceptable for each party involved is created, then everyone will conform to it. Currently there’s none so far and most likely you will have to take into account the requirements of each individual investor.

Why should a project usually conform to the investor’s requirements and not vice-versa? Almost without exception, it’s the investor who must choose between a large number of proposals, and not the project team.

What we encounter in the real world:
Despite the fact that the requirements on how to fill out the application form are clearly set at the GS Venture web-site, we receive a number of applications in a free format. It doesn’t mean they are unacceptable. In some cases such applications are well-designed presentations and/or well-thought-out business plans.

But if we receive our standard application form, we can quickly classify the project and carry out a quick comparative analysis of the proposed development and similar or alternative projects that were accepted or rejected before. And in case an application is submitted in a free format, then, other things being equal, the project won’t be considered among the first ones. This is something that has been proved in practice: many free format applications are mediocre and inconsistent, and authors send them simultaneously or subsequently to dozens of addresses at once. However, if a project seems very attractive at first glance, we’ll immediately look at it in full detail regardless of submission format.

SO…

  • A really outstanding project can be submitted in any format, but at the same time the “title page” should be a brief abstract, which doesn’t allow experts to postpone reading the entire material.
  • A really outstanding project can be sent to a number of addressees in order to create competition among investors, but it’s quite dangerous because each innovative project positions itself as being outstanding at the beginning, which is fine as you should believe in yourself, but might not reflect reality.
  • Mass mailing to a list of addresses in most cases is a sign of a lack of demand for the project, rather than its competitiveness.
  • For a quick review of the project, you should follow the application format of each investor.
  • The fewer points you mention in the application, the more counter-questions you will get, which you might not be prepared to.