Apply to STAN! Application Submission Instructions
Ahead of the 14th STAN pitching session on Thursday, October 19th, we’ve prepared detailed instructions on completing your application on Gust. Apply by 23:59 ARM time on Sunday, October 1, 2023.
For additional questions, please email us at info@stan.am to complete the Gust application.
IMPORTANT NOTICE: Since August 18th, 2023, there have been some technical issues with registration on the platform. The bug is currently being investigated by the Gust; in the meantime, we advise all the applicants to use a VPN for the sign-up process. Free VPN apps like VeePN, Hola VPN, etc. can be useful for the safe and smooth registration.
STEP 1
In order to access the STAN application page, please follow this link. You will be redirected to this page. Click the “Apply for funding” button to start the application.
STEP 2
Create an account in Gust to proceed with the application.
STEP 3
Fill in your name and surname. Select which of the following relationships your startup has: Co-Founders, Advisors, and/or Contractors. Click next and proceed to the startup name and incorporation type (if any).
STEP 4
Describe the stage of your startup’s development; if it is already generating revenue, provide the amount from the past 12 consecutive months (Trailing Twelve Months / TTM).
STEP 5
After signing up and accepting the terms of use, you will be redirected to the next steps of the application. Click the Next button after reading the instructions to proceed to the next stages of the application process.
STEP 6
In the Overview section, please follow the instructions under each question carefully and try to complete all fields (even optional ones).
STEP 7
In the Financials section, the essential parts are the current funding round which indicates in which stage you are now and the amount you seek.
Friends and Family investment in a company often follow the founder’s investment, from people who are investing primarily because of their relationship with the founder rather than their business knowledge.
The pre-seed funding round is a way of financing that takes a startup idea off the ground: becoming able to engage in the project full-time, hire crucial team members, build a proof of concept (POC), prototype, or minimum viable product (MVP), prepare a go-to-market strategy and get some initial traction needed for raising the (next) seed investment round.
Seed investment is commonly used for further product and team development, official market launch, acquiring customers, and testing product-market fit and a business model.
Series A funding: investors are looking for companies with great ideas as well as a strong strategy for turning those ideas into a successful, money-making business.
Series B funding rounds are well-established, and their valuations tend to reflect that; most Series B companies have valuations between around $30 million and $60 million.
You can find more information here.
STAN focuses on funding early-stage startups. Normally, we consider startups in the Friends and Family, Pre-Seed, and Seed stages.
STEP 8
Sharing financials with investors is always a good idea if you have proven traction and good unit economics proving your growth hypothesis. It will provide another reason for investors to fund your startup.
STEP 9
Any Funding history that is available at the point of your application is important to be stated.
For example, if you have any grant received so far, you can state it under the Friends and Family round. If any commitment is half transferred and half expected to be received in the upcoming months, please state the final amount initially agreed upon.
STEP 10
Pitch Deck
The Pitch Deck is one of the essential parts of your Gust Profile. Investors usually pay the most attention to this part. Pitch Deck builds the investors' confidence in your business, thereby promising that your startup has the potential to excel and grow faster.
Important tips to make Pitch Deck
1) Present your unique value proposition. It would be ideal if you provided a numeric measure of your solution's pain points and benefits.
2) Make sure the pitch deck clearly explains your problem. It is essential to ensure the pitch deck clearly explains the solution, its underlying magic, and how it works.
3) Clearly indicate the innovation component of your solution. Remember that Science & Technology Angels Network (STAN) invests in science-intensive startups. Having AI as a core component of your competitiveness is essential. However, we recommend not adding "AI-focused" if this is irrelevant to your solution.
4) We want to see startups that have scaling potential. So clearly indicate your market. Explain your expansion strategy. If you are targeting a niche market, clearly explain the profile of your target customers.
5) Make sure you analyze the competition and outline your advantages. Formulate what your "unfair advantage" over others is. If necessary, elaborate more on "unfair advantage" in the "team" related slide (see its description below).
6) Provide a logical and straightforward assessment of the volume of your target market. Angels should see a growth opportunity in the selected market.
7) Explain the educational and professional background of your founders and core team members. Explain why these people are the ones who will bring the idea to success. Indicate if they are working full-time in the startup.
8) Clearly formulate your financial ask and valuation. Outline the key milestones that you will achieve with that funding. How long will this funding keep you alive? What will you do when the funding is over?
9) Make sure the pitch deck is in English.
10) Extensively test the pitch deck internally and with external key industry leaders. Make sure it will convey your key messages to the people who read the pitch deck the first time.
Recommendations for a great pitch:
- Connect with your audience - being specific, talking about failures and successes so that you will connect with your audience/investors on a human and emotional level
- Lead with Traction – focus on telling the problem and the exact customers having that problem so that investors will fully understand that the problem exists and bothers specific target customers and only then present your solutions. Some start-ups might not yet have customers or revenue. However, they can talk about unit economics for customers -the cost of acquiring one user in the given cohort.
Although it is not mandatory, one of the most effective methods to share your narrative is with a pitch video, as it can demonstrate your concept in motion. Through music, movement, and interpersonal interaction, you may directly address your audience through video and motivate them. We recommend recording a 30 seconds introduction video for a wider recognition. Click on this link to record.
STEP 11
In the Additional Questions section, all questions are mandatory. If you have any references by which you applied to STAN, please state them.
STEP 12
Please state the track under which you are applying:
Traditional angel investments: offer pre-seed to seed-stage investments in startups engaged in science and technology innovation. We have emphasized our focus on AI as a platform technology or technology integrated into various verticals that benefit Armenia and the world. Examples of various startups STAN has invested in are music visualization startup doodooc, science-fiction series startup Mythrill, and health-tech startup DoctorYan.
Moonshot projects: investments here are in high-risk/high-gain projects which offer ultra-sophisticated, deep technology solutions to tackle worldwide challenges. The stage of the project can vary from idea to production ready.
Women entrepreneurship: track provides impact investments for women-led, very early stage (idea/concept stage) startups to strengthen female entrepreneurship in Armenia.
After completing all the required fields, you can apply and receive a confirmation email from Gust.
