A Letter from the Managing Director
Welcome to AmplifyUp!
Hello and congratulations for being selected as a founding member of the AmplifyUp cohort. By the end of first quarter 2022, you will be an entirely different founder – significantly ahead of where you are now with your understanding and control over the fundraising experience. Your cohort, dubbed “1Q22”, is designed to improve your investor readiness, expand your network, give you better control over your business plan, and invite you to participate in the very active pre-seed investment economy.
We are here to support you, but it is up to you to close the investments. As with everything else in life, nothing is guaranteed, but every experience can be a lesson. We see potential in your business that you are creating and we believe the angel investment community will respond positively to it. However the person who ultimately controls your startup investments is YOU.
Our job is to educate you on equity-based funding. We will have you prepare everything that an investor will want to know so they can decide to invest in your company or not. We will ask you to pitch every aspect of your business to our trusted mentors, experts, and peers so you can handle difficult conversations with prospective investors. We will set up the SPV and deal room to make sure the investment experience lacks friction. We will do everything we can to help you succeed.
In return, we ask that you direct investors to participate in the SPV that BoomStartup sets up for you. It is the only way BoomStartup receives a long-term payout for when your business succeeds and exits in the future. As you know, we do not ask for equity and the nominal program fees you pay for covers the services that directly benefit your startup.
We believe in the honor system and we hope you direct investors into the SPV to repay all of the work and contributions we do.
If at any time there is a mis-match with the program expectations or outcomes, your 1Q22 cohort participation can be dissolved. This program truly asks you to commit with grit, to hold yourself accountable, and to keep us updated with your startup’s progress. We invited you into this group because we believe that you can benefit from our services, but we understand that unexpected situations arise that may alter your prerogatives. That’s fine too. But, we hope that every moment you spend in our workshops or with our community – it is a wonderful experience for you.
Thank you for your commitment to BoomStartup’s AmplifyUp cohort. We look forward to working with you over the next few months and see what your startup becomes.
– TARA SPALDING