That’s a Wrap on The Funding Wheel - Your 360 Guide to Startup Fundraising in Ireland
Fast-Tracking Growth with Accelerators & Grants
What an incredible series it's been! Over the past few weeks, The Funding Wheel webinar series has brought you an insider's guide to navigating the often-complex world of startup funding.
Our main goal? To demystify the funding process, break down complicated jargon, and empower early-stage founders like you with the confidence and clarity needed to pursue various funding options in Ireland and beyond.
Our core value throughout this series has been simplicity and practicality. We believe that understanding funding shouldn't require a finance degree, and that real-world insights from experts are invaluable. Let's take a quick look back at the key learnings from each session:
We kicked off with learning about governmental supports, grants & accelerators…
We started by exploring funding that doesn't involve giving away ownership. In this session, Katya Kostyunina and Claire Dunleavy shared insights into grants and government funding, particularly from Enterprise Ireland (including their Pre-Seed Start Fund and HPSU status) and Local Enterprise Offices (LEO), highlighting how these provide crucial early capital. Menno Axt, with his experience delivering the NDRC programme, then delved into accelerators like Y Combinator and NDRC, which offer intensive programs, mentorship, and investment in exchange for equity, focusing on rapid growth and network building. These avenues are often foundational for early validation.
Cracking the Code on Angel Investment
We then did a deep dive into angel investment, sharing all the information you need to consider…
In our second session, we dove into the world of angel investment. Our expert guests, Moira McKenna, and Alison McMurtrie, shared insights with host Eshna Gogia into what angels look for: strong founders, not just ideas! We demystified terms like 'valuation', 'equity', 'due diligence', and ‘data rooms’, and discussed the power of angel networks like HBAN for finding syndicated investments (We also discussed what a syndicate is!). We emphasised being "investor ready" with clear market understanding, a robust business plan, and solid validation.
Some key takeaways from the session:
-Founders should consider angel investment when they have a basic MVP, some market traction, and have exhausted non-dilutive funding options like grants and competitions.
-Angels invest in founders, not just ideas - looking for experience, passion, team capability.
-Founders should be mindful of how much equity they are willing to give away at an early stage and ensure their valuation is realistic.
-Having a diverse advisory board with international members is important. An all-Irish advisory board can be a red flag for investors.
The Insider’s Guide to Venture Capital
We then tackled the VC landscape and the unique business models which startups need to have…..
The third session tackled the dynamic world of Venture Capital (VC). With insights from Steve McCann (SOSV), Andreea Wade (Delta Partners), and Mairead Roche (Act Venture Capital), we uncovered how VC differs from angel investment, focusing on a VC's business model (Limited Partners, management fees, and 'carry') and their need for exponential returns. We explored the VC fund lifecycle, the hierarchy within a VC firm, and how fundraising needs to be treated as a rigorous sales process with a clear funnel and polished documents. It’s a complex process you need to know as a founder!
Some standout insights:
- VCs expect evidence: product-market fit, scalable model, strong traction, team strength — all backed by a well-organised data room and clear projections.
- Start building VC relationships before you raise, show up consistently — updates, traction, and milestones help build confidence.
- Tenacity and execution beat ideas alone, sustainable, milestone-driven growth is more attractive than chasing vanity metrics.
Crowdfunding Strategies That Work
We then explored crowdfunding and how this differs massively from other funding solutions…
Our final session focused on crowdfunding, proving it’s a powerful, democratic funding option often overlooked. Katie Farrell (Co-Founder of SQUiD Loyalty) and Tim O'Callaghan (Quintas Capital / formerly Crowdcube) shared their firsthand experiences. We discussed the differences between Rewards-Based (like Kickstarter for Toc Watch or other innovative products) and Equity-Based (like Seedrs or Crowdcube, famously used by SQUiD Loyalty for €1.7M and We Are Riley for €1.5M). We also covered the crucial pre-launch work, building community, crafting compelling narratives, and understanding the significant time, effort, and public scrutiny involved.
Highlights from the session:
- Successful crowdfunding isn’t luck—it’s strategic. Build early buzz, communicate your value clearly, and activate your champions.
- Not all startups should crowdfund. The model works best when you have a consumer-facing product and a ready-made audience.
- Transparency isn't optional. The crowd is watching—handle scrutiny with honesty and clarity.
What we want you to get from these webinars
The core objective of The Funding Wheel has always been to equip you with the knowledge to make informed decisions about your startup's funding future. We hope you leave this series feeling more confident, connected, and ready to navigate the funding landscape.
Want to re-watch any episode or catch up on what you missed? Let us know here!
