Coffee with an investor - what would you like to have?

Every startup expects something different from an investor. Some want a great deal of money, others want smart money. We were wondering what startups that join our event “Coffee with an Investor” are looking for. So, we just asked them. This time we interviewed a Slovak, a Czech and a French entrepreneur.

Tomáš Kvasnovský
Founder of Smart Record - iOS speech transcription application

Which part of the feedback did you find the most useful?
Definitely the comment by UP21 CFO Martin Vápeník, who said that we have too many revenue streams which can be problematic marketing-wise. He recommended that we focus on one particular revenue stream and develop others accordingly.

Where else did you get feedback on your idea?
We mainly get feedback from our customers. We are also discussing possible cooperation with the Silicon Valley Launchpad incubator, from which we also received valuable feedback. Besides that, we took part in the European Startup Week competition in Liberec, where we ended up second.

On what basis do you choose an incubator that you would like to get investment from?
Based on references from people who have already been there, or are familiar with the work of the incubator. I'm interested in the portfolio of startups and on what the incubator has already achieved.

What relationship would you like to have with an investor?
An investor should be a person who actively participates in the running of a business, is able to give a critical opinion and can pass on tried and tested advice. I'm not only looking for money, but also for an experienced investor who has good business relationships.


Hanuš Zvolský
Co-founder of Cleany - a clothes cleaning application

Which part of the feedback did you find the most useful?
It was good for me to find out that our project is not complete crap. In the 15 minutes, however, there was not enough time to talk about specific details, so we did not get to learn much new information. Rather, it was about talking to a person who has more experience in business. Overall, I feel it was a very nice get-to-know event that ended positively because we will see each other again.

Where else did you get feedback on your idea?
We started asking our families and friends if the idea is any good. Now, we are mainly trying to talk to strangers who will openly tell us their point of view. We are two co-founders, and because each of us is a bit different, our different views are beneficial.

On what basis do you choose an incubator that you would like to get investment from?
We are looking for synergies and trying to think about whether cooperation with an investor makes sense to us and to the investor. We look at the portfolio of startups that the incubator supported and at the fact whether they offer smart money. At UP21, we know ShipVio founder André Dravecký, a classmate from iCollege.

What relationship would you like to have with an investor?
Ideally, an investor should be an experienced business partner who cares about a project, sees potential in it and is close to it. He should have energy and time to discuss the idea with us. Importantly, we should feel at ease with the person. Experience and advice saves you a lot of money, time, and mistakes and moves the project forward.


Thomas Rovayaz
CEO @ Naash - mobile application to find roommates

Which part of the feedback did you find the most useful?
It was all great. I received a very useful feedback from Václav Pavlečka, CEO of Air Ventures. I need to work harder on the business model and scalability. Overall, he liked the project and once we have figured out the model, we will meet again.

Where else did you get feedback on your idea?
Our application focuses on exchange students, so, I spoke about it with all my Erasmus friends who really liked the idea. I have been living in Prague for 1.5 years and I still hear about the many difficulties people have searching for a flat. We have developed an application and some people are already using it.

On what basis do you choose an incubator that you would like to get investment from?
I decide based on what the incubator already did, how they did it and how I feel about it. I observe closely how the investors talk to me, how they act and speak about potential collaboration.

What relationship would you like to have with an investor?
I would like the investor to be both a mentor and to help me with the development of the project. At this stage, we are only looking for a small budget to test our idea for several months, and then we will see.