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Entrepreneur TAN Application
Downloadable version of “TAN Application"
Company applications should be limited to an executive summary or response to specific questions. Please submit your executive summary of NO MORE THAN FIVE PAGES (including attachments, appendices and exhibits), which contains information on the subjects identified below. Materials beyond the five-page limit will not be reviewed or considered. The list below is not intended to suggest any particular order of information, but rather the entrepreneur should consider the arrangement best suited for describing his/her company.
Submission Content:
- The Company
- History, including accomplishments to date
- Mission
- Product(s)/Services
- Description of product(s)/services
- Ownership
- Development stage
- Timing of, and process to, commercialization
- Unique attributes and opportunities
- Market
- Size and definition
- Industry trends
- Needs for product(s)/services
- Customers
- Sales/distribution plan
- Necessary partnerships and status
- Competition
- Comparative analysis, including key features and benefits
- Competitive advantage/market differentiators
- Barriers to entry for competitors and company
- Management
- Experience of all senior management, including previous start-ups
- Previous experience working together
- Needs/key vacancies
- Board of Directors
- Advisors
- Financials
- Founder’s investment
- Fully-diluted capitalization table (i.e., including options, warrants, and debt)
- Summary projected financials (one and three to five years)
- Funding needs for this round and subsequent rounds
- Use of funds
- Exit strategy and timing
- Business milestones for next six months and next two years
Submission to Answer Following Questions
- What is the full, legal name (and jurisdiction of incorporation) of the company (if it exists) and a brief history (when incorporated, ownership and capital structure, track record, accomplishments to date if any, etc)? Don't forget to include a complete address and contact details (email address, telephone numbers, etc).
- What is the "Mission" of the company (i.e. what is it setting out to achieve or accomplish)?
- What is the problem that the company’s product/service solves?
Qualified value proposition: What is the economic benefit of solving that problem?
- What is the market which the company is going after (who, where, size -in dollars) and what is the unique (i.e. proprietary advantage in the form of patents, trade secrets, trademarks) or new product or service which is being offered to this market? A comment on competition is useful. Also, identify current and potential customers. Testimonials are helpful.
- Who are/will be the first ten customers for this company?
- Individuals/Companies
- What are their positions?
- What will they spend?
- Who are the key people behind the venture (i.e. why would someone entrust them with their money?) and what are their credentials? Include all board members and key management people.
- What does the company expect to achieve in sales and profit (before tax) in years 1, 2, 3 and beyond?
- How much capital is needed (at various stages over the first 3 years)? And what are the uses to which these funds will be applied?
- What has already been invested (# of years sweat equity, or seed investment amounts, i.e. # shares@ Rs. xx, and by whom)?
- What is being offered for the investment (e.g. equity %, board seat, etc.)
- What kind of return might an investor expect? over what time frame? and what is the "exit strategy"?
- What else is important to note? (that hasn't been covered elsewhere)
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