InterTradeIreland Venture Capital Conference

🔛 Deirdre O'Neill highlighted the importance of multiple revenue streams in business at every stage. Bootstrap for as long as you can and crowdfunding can enable the people who love your brand to be part of the company's journey.

🔢 Sinéad Crowther, Suzanne Moloney and Aine Kilkenny talked about the different metrics associated with running a "direct to consumer" business including customer acquisition cost, churn and digital marketing analytics.

🤝 If you have a "business to business model", you may need additional hires and to spend more time nurturing relationships and onboarding.

💰 Take the "free" money that comes from government grants and competitions (e.g. Seedcorn) to build the business before approaching VCs.

📶 Andrew O'Neill, Barry Brennan, Faye Walsh Drouillard and David McCurley talked about how VCs differentiate themselves by levels of experience, how far into the journey they're willing to go, sector, connection, impact investing, cheque size and exit plan.

📲 In terms of approach, be prepared, ask for advice, talk to other investees in their portfolio and follow through.

👩‍💻 In the deeptech panel, Brian Murphy, Jason Lynch and Orlaith Ryan noted that "specs don't get cheques" i.e. the tech will get you so far as you need to focus on the business opportunity.

✅ You need to show how your assumptions are validated, the execution capability of the team, have "multiple shots on goal" and both prepare yourself and your team for a long journey.

📩 John W Cassidy and Declan Kelly demonstrated that a well written cold email can get a VC's attention and good communication is critical for a well-functioning relationship.

😟 Share your problems so that you can get actionable solutions from the sounding board wisdom around the table.

📈 Your VC may want to influence the long term outcome of the business and it's important to want that input.

🌱 Gary Davidson led a panel discussion with Andrew Sheffield, DC Cahalane and Beth G. where they talked about how Landscape.vc is like Glassdoor for VCs, the importance of cross-border collaboration, how "growth at any cost" is being replaced now with "path to profitability" and persistent follow-up is a good thing!

🔂 Laura Haldane highlighted the importance of repeatability into your business model. You don't delegate because you're lazy but because you're empowering others and growing your own capacity. Love what you do and your work can be a source of personal sustainability.

🗺 With a larger team and greater ambition, you need more HR and marketing structure.

🗣 If you're nervous about taking on VC money, talk to a VC's portfolio company about their experience. Investment brings money, but also connections, wisdom, collective responsibility, challenge and an adventure!

Thank you Drew O'Sullivan, Gary Stokes, Shane O'Hanlon and Jane Watson for the opportunity to work with you.