FAQ

Fig Process

What does FIG do?Lots of things - take a look around the site!

How can FIG Help me?Lots of ways. We help you form a professional business plan, we provide you with the best resources to do so, we introduce you to our strategic partners who can give you legal, accounting advice etc. for free, we'll get you quotes for great suppliers, we can introduce you to suitable potential team members, help you prepare a pitch for investors and we can introduce you to world class mentors and investors.

What's the difference between you and other angel networks / VCs?Again, we would not discourage you from going to angel networks or VCs or even speaking to friends and family for financial support. They are all valid ways of finding finance, and who knows they may even lead you to a suitable investor. That being said, we are very open about who is in our network, how we are able to help you, our costs (nothing is hidden) and most importantly we've designed FIG with young entrepreneurs needs being the first and foremost consideration. We charge the people that have the money - not the people looking for money! We vet all investors, all FIG Strategic Partners and ensure the FIG Seed Funds do have the capital they say they have. We also don't waste investors time, we don't make the investors sit through pitches they aren't interested in. We offer a pragmatic approach to investing in young entrepreneurs and work diligently to remove any financial barriers to realising their goals. We have a great network so you can focus on developing your idea safe in the knowledge that we've got the right connections to make it a reality, and that we've got your best interests in mind - if we don't feel we can help you within FIG we will help you find someone or another body who think they can.

How long will it take me to upload my business plan?It's up to you. We firmly believe that our online system is one of the best (/ the very best) and it has been designed to help you every step of the way. We do however recommend that you take your time when uploading your plan. As a rough guide, if you're a full time student working a couple of hours a night, it will take you a couple of weeks. If you have graduated or are working on the business plan full time, you should expect to upload a complete plan in a week. This is no quick fix - if you want to see your idea through you need to demonstrate that you are committed to it. Of course this will just be the first draft, and you will go through lots of iterations, have to get new and additional quotes, maybe even meet accountants, lawyers, industry heads before it is ready to be presented formally to any investors. Rest assured we will be there help you do just that. At FIG we've done the ground work so you can focus on what you know not who you know.

Is there a restriction to the type of business idea or does your service apply to any sector?We'll take any sector. We are open to any idea, so long as it is legal!

Will I get help from FIG while I put together my business plan?Of course. You can come to a Meet & Greet or use the resources we supply at every stage of The FIG Business Plan Builder.

I've got an idea for FIG.Cool. Tell us.

FIG Seed Fund

What is a FIG Seed Fund?To find out more about FIG Seed Funds, please click here

FIG Seeds (Young entrepreneurs)

What is a FIG Seed?To find out more about FIG Seeds, please go to here

How much does it cost to become a FIG Seed?WE DO NOT CHARGE ANYTHING TO USE THE WEBSITE AND THE ANALYSIS TOOLS. If you apply for FIG's support to become a FIG Seed AND we accept and offer to engage with you we typically look to receive 5% equity in your start-up. For a complete breakdown of costs click here.

Does it have to be an idea (i.e. pre formation) or can I come to you for investment with a company I've already started?By all means, if you have a company that is already up and running we'd love to help you take it to the next level.

I've an idea, how much money will you give me for it?Nothing. That's not how we work. We help you get money from your own idea.

Worst case scenario... am I going to end up out of pocket?Not a chance. Worst case scenario is that we can't find an investor for you after you spend some time putting together a business plan... but, in that instance you still have a fantastic framework for a business plan that any potential investor will appreciate. You are not out of pocket and you won't have wasted your time as you will have gained experience in researching, analysing and building a business plan.

There are a couple of us working on a business plan. How can we share access to the account? Once all team members have registered on the site you can click on a proposal and select "invite team members". All you have to do is then add the email address of the other people registered on-line, job done.

Can anybody see my business plan?Your business plan is kept safe, please click here for the Privacy Policy

You say that "in some cases support them [FIG Seeds] financially" - What do you mean by that?We understand the financial constraints of students - if we see that your idea / company has potential we may offer you a FIG allowance (approximately £110 per month, to cover phone bills (about £30), utility bills (£50) and a benefit (gym, society membership etc. worth £30)). We do this so you don't have to worry about working in the evenings as well as studying whilst at university. We hope that this means you can remain focused on your study as well as develop your plans with as little distraction as possible.

How long will my business plan be live on the website?As long as you want it to be. When you put it up it will be available for FIGureheads to view. If you want to take it down, feel free to do so at any time.

I've got an idea but want some advice to see whether it's viable before starting a business plan. Is this possible?Attend a Meet and Greet and we'd be happy to listen to your idea. Alternatively there is a FIG Viability Test built in to the Business Plan Builder - have a go at that and see what you think.

Do you think I should quit Uni to start / develop my company?No. You can do both, we know. We did it. It is a matter of time management. If you want to know how we did it come and speak to us at a Meet & Greet.

Can FIG help students / recent graduates / companies now based outside the UK?We can indeed. Several of our FIGureheads have international businesses. So long as the concept is strong, we can help.

Do I have to have studied Business or Economics at school / university?No.

Can I become a FIG Seed?As long as you are either a student or have graduated in the last 5 years and you think you have a great business idea, you can become a FIG Seed. Simply attend a Meet & Greet event or upload your business plan online.

Why do I need to be an undergraduate or graduate of the past 5 years? Bit arbitrary isn't it?We don't think so. Our investors join our network to find educated entrepreneurs. The 5 years gap allows graduates to have got additional qualifications if they want (i.e. their ACA). We also feel that university education prepares you well for the research we expect you to conduct when building your business plan.

I'm not an undergrad or a graduate of any sort... is there nothing you can do to help me?We focus on the FIG Seed niche as it is a demographic we understand (something we would always suggest you did when starting a business). We'd recommend speaking to Make Your Mark, The Prince's Trust, The British Library or Business Link. Who knows... in the future we may well open our doors to anyone, but right now we need to walk before we run.

Do I need to have registered my company already?No, if you've got one it's not a problem, if you don't it's not a problem. There are plenty of resources throughout the site that can still help you, have a browse around.

Do I need to be a salesman?No. In fact this is one of the reasons we started FIG. You just need a good idea, if you need a salesman to help you get your company or idea off the ground, we can help you find someone to fill that roll.

Do I have to have studied engineering / art/ anything in particular?Nope. Yet another reason we started FIG. We just want to hear good ideas.

I've an idea, it is for a charity. Can you still help me raise capital?Maybe, we certainly wouldn't say no straight off. If you have a good idea for a not-for-profit that could really help people we may well put our heads together and see how we can help.

FIGureheads (Investors, investment and Equity)

What is a FIGurehead?To find out more about FIGureheads, please click here.

How long will it take to get investment?Impossible to tell. It can days, weeks or months. It has a lot to do with how much effort you put into the process.

How much equity will I have to release?Again, that is impossible to answer in a general case. It depends on many variables, including your business idea, how good it is, how much money you need, how risky it is, the potential for a return and the management team.

Can I meet your FIGureheads?Yes. They can contact you through our website when you start building your business plan on-line, they attend our events and if you get invited to a Pitch To Investor (PTI) event you'll get to meet lots of them.

Can I get a FIGurehead's personal contact details from you?0-800-NO-CHANCE . You will meet FIGureheads as you go through the FIG process, it is up to them to provide their contact details to who they want.

Can I trust the FIGureheads not to steal my idea?Yes. We vouch for the FIGureheads. We make sure only trusted and carefully selected parties get to see your ideas. Our FIGureheads know what it is like to invest and develop companies with undergraduates and recent graduates - either because they were them once or they have made investments in similar instances previously. They are all very successful and approachable.

How can I make sure a FIGurehead that is interested in the relevant industry will see my plan?Due to our websites filtering process all FIGureheads interested in a certain industry can choose to search only plans relevant to that industry. As long as you have filled in the business plan section correctly your plan will be seen by the correct investors. FIGureheads are able to accurately search for business plans using various search criterias.

Are all of your investors active?Yes. They are all interested (and able!) in investing in projects that interest them as well as lending their services to young companies' management teams.

How much money do you have to invest in FIG Seeds?Our network of FIGureheads have access to hundreds of millions between them. We are not just a load of hot air, we mean business.

Apart from investor finance, can FIG assist with other matters such as government grants, loans, etc?FIG can assist in many ways to help you grow your business - simply come and meet the team at a Meet and Greet event and we'll happily go over all of your options with you.

In the economic climate, are people actually investing in start-ups?Yes, we consistently raise finance for FIG Seeds, even now.

Will you negotiate for me?We don't and won't tell you what to do. That includes telling you what offers to accept. FIG tries to make sure that the FIG Seeds are aware of options available to them. That being said, some FIG Strategic Partners would be happy to help with the negotiations.

Events

What do I wear to events?Shirt and jeans would probably be a good shout. Wear what you are comfortable in, but put a little effort in. But don't worry, we don't expect you to turn up in a nicely pressed suit.

Can I go to a FIG event if I haven't entered my idea / plan to the website?Of course, we'd love to have you attend one of our Meet & Greet events. Here you can meet the FIG team over refreshments and in relaxed surroundings, find out about the process and get first hand opinions about any business idea you might have.

What happens at a Meet & Greet?The FIG Team, a few FIG Strategic Partners, maybe even a FIGurehead or two attend the Meet & Greet events so you can talk to us about your ideas over a drink and a few nibbles. You can get some professional advice (on intellectual property, VAT and Tax... whatever you are looking for really) for free. You may even get invited to a FIG Workshop.

How is this different to the other business events that I can go to?Firstly, we are there (joking!), but seriously, you should go to other events, we know we aren't the only resource and wouldn't want you to miss out on any opportunity to see your idea flourish. That being said, we do think our events are the best of their kind! We work hard on quality, not quantity. We don't fill the events with suppliers we don't know personally. We don't let just any potential investors in, just the investors we know and trust. We make sure there aren't any time wasters. We don't put any arbitrary time constraints on meeting people. We don't force "networking" on anyone, we aren't interested in gimmicks. And finally, the unique atmosphere, we're young guys and girls, we are approachable, and we want to let you know that, yes, if you want to get investment it will be hard work, but we'll be there to help you, and it can be fun! You can learn a shed load, meet fascinating people and make a lot of money.

What happens at a FIG Workshop?A select group of young entrepreneurs meet with the FIG Team and Strategic partners to review their business plans to create product road maps, development plans, discuss presentation of ideas, personal aspirations, management teams and any aspect of their business that may need work before meeting with investors. We invite selected FIGureheads to come and give their advice too.

What happens at a Pitch to Investors (PTI)?We put together a schedule for selected FIG Seeds to Pitch To Investors... and the FIG Seeds Pitch To Investors (cunning, isn't it?). Only FIGureheads and FIG Seed Fund Managers who are interested in your concept listen to the pitches, we make sure your pitch doesn't fall on deaf ears or parties that aren't interested. There is always space for FIGureheads, FIG Seed Fund Managers and FIG Seeds to meet one another away from the pitches. The pitches are recorded and made available on-line ONLY to FIGureheads.

How do I book a place at a Meet & Greet event?You don't, you simply need to turn up and meet the team and other young entrepreneurs.

How do I get invited to a Workshop?The best way is to upload your business plan simply on to the FIG website (see "i've got this great idea" link on the homepage). If the idea is good enough you'll be contacted by either a FIG team member or directly by a FIGurehead and invited to a workshop. Alternatively/ Also you can attend a Meet and Greet and let the FIG team know about your idea in person and potentially be invited directly.

Can I attend a Workshop if I haven't been invited?Unfortunately not, you need to be invited to a workshop (please see How do I get invited to a Workshop?)

I've missed a Meet & Greet event - how many FIG events are there a year?There are over 20 events per year, 12 Meet and Greets, 6 FIG Workshops, 4 Pitch To Investors. For more information about all FIG events please go to.

When I pitch is it going to be like Dragon's Den? Am I going to be torn to pieces?No. First and foremost, we wouldn't let you pitch if you weren't ready. If your idea is ready for presentation to investors and you don't feel comfortable presenting we can help you, we will help you find someone to join your team to do it, or we may even do it! And, more importantly, our FIGureheads already know about your business plan and are interested in hearing your idea and have no intention of embarrassing you. Also, it is more than likely that you will have checked / conducted some market research with FIG Strategic Partners, so you can have confidence in what you are presenting.

Strategic Partners

Who does FIG work with?To find out more about FIG's Strategic Partners, please click here.

Can I approach FIG's Strategic Partners whilst writing my business plan?Sure their links are on our resource page. We would, however, suggest that you come and meet them face to face first at our Meet & Greet events.

Tech Questions

I'm having a technical problem with my account / a section of the site, what do I do?For all technical problems, please send us an email with details to tech@findinvestgrow.com

Are you going to be realsing an API that I can plug into?You'll see… stay tuned!

How can I get my content on your site?Apply to be a partner here.

General questions

Can you make me a millionaire?We can help, lots. But (and yes, we are labouring the point as we need to make sure it hits home) you will have to put in a lot of hard work to achieve your goals.

What do you know? Why should I trust the FIG team?We've been there. We've done it. We raised over a million pounds in four months for start-up companies since we had the idea for FIG. We are recent graduates, we went through the FIG process ourselves, we worked with some of the investors and most of the strategic partners. Plus, we aren't hiding anything. We explain the costs, we tell you who our investors are and our partners put their name to the site. If you still aren't convinced, come to a Meet & Greet and have a chat with us over a drink.

What's the best way to keep up to date with FIG?You can follow our blog and most of our website can be subscribed too via rss. We may start writing a newsletter... we're not decided yet. We'll see what the feedback is at the events and if people want us to. You can follow us on twitter and facebook as well. We are also developing a suit of tools for web developers so you can get content straight onto your own page... And of course you can visit the site any time you like :)

I've a question that isn't answered here... how do I contact you/ leave feedback?Click here.

How do you make money?We cover our costs via sponsorship, we charge the investors a membership fee (this makes sure they are serious about investing in FIG Seeds) and the directors put enough money into the company themselves to keep us ticking over until the equity in FIG Seeds start paying dividends.

What are you trying to achieve at FIG?We're trying to set a gold standard. We want to help create a culture that supports good ideas and rewards hard work. And we want to be involved with exciting fast growing companies.

I've managed to raise finance outside the FIG process, can I still use FIG's resources?We're here to help, not to hinder - we recommend the FIG Strategic Partners to everybody, not just our FIG Seeds and are happy to help when we can.

How come you link to what look like competitors?They might help you. We don't need / want / aren't able to help every single person in the world ever who has a business idea. We aren't arrogant... confident, yes... but not arrogant. Sometimes, we may just simply not be able to help i.e. if you need a Hadron Collider to make your concept work, we'd be unable to help and have to suggest that you go speak to CERN. Again we're here to help, not to hinder.

How can I leave feedback?Good or bad, we want to hear it. We want to improve. Contact us here.

Do you have a limited number of companies you invest in/ work with?Nope. We are not a competition. We would suggest applying for competitions, as they can be a great way to find easy finance and meet potential investors... just don't rely on competitions for your cash!

What music are you into?Slightly off topic... but we like all sorts. We are currently enjoying Seasick Steve. Check him out on Spotify! It's all good.

What are you wearing?Nothing but our thinking caps and our onesies. Right enough of this, we better crack on with work. Hope the FAQs answered your questions. All the best, The FIG Team

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