How to Join – For Innovators

Innovators may require:

  • Raising of capital and investment funds
  • Full professional support as a Portfolio Company

To become a Portfolio Company, Innovators are encouraged to review the Benefits and Products & Services pages on this website to:

  • Assess the status of your product, innovation & technology
  • Determine the level of fit of BIG with your on-going business requirements
  • Eligibility to join BIG against strict investment criteria10 essential investment criteria

Having determined that BIG can assist in your commercial success there is a simple 6 -step process to join this leading Innovation Hub:

  1. Use the adjacent form to register your interest in joining BIG
  2. You will be contacted by BIG to submit a summary of your product, innovation or technology with a short development or business history together with your technical background or business experience.  This is preliminary information only we do not expect you to disclose Confidential Information at this step.
  3. BIG will undertake a Preliminary Review of your product, innovation or technology.  We will discuss with you in person, by telephone or by Skype, the eligibility of your product, innovation or technology at its current stage of development or, if necessary, make recommendations to assist you become eligible.
  4. Based on an initial recommendation, a deep-dive review of your product, innovation or technology will then be arranged.  This meeting may also be attended by one of our Senior Commercialisation Advisers and Technology Specialists. Prior to this meeting you should review, download and sign the mutual Non-Disclosure Agreement on the Forms page of this website.Innovators should attend this Preliminary Review meeting with the following:
    • Signed Non-Disclosure Agreement (which we will counter-sign at the meeting)
    • Samples, prototypes or other presentation of the product, innovation or technology
    • Technical reports, patent specifications or other description of the product, innovation or technology
    • Resume of the Founders and any management team
    • Any early business plan or projections

5.  If approved, your product, innovation or technology will then be referred to the Investment Committee of BIG with appropriate assessment and recommendations.

6. Once approved, you will be required to enter into our standard 5 year Portfolio Company Agreement.

Our Portfolio Company Agreement will detail the specific resources, products and professional services dedicated to your project, outline capital requirements and business objectives.  These are described on the Benefits page of this website.

This is a long-term multi-year commitment between each Innovator and BIG.  In return, Innovators should be prepared to allocate up to 29.5% equity to BIG, but you will usually retain majority control through this early seed stage and right up to any future Series A Capital Raising.  Only at Series A Capital Raising will you be required to dilute further.

Innovators should note that the BIG equity allocation is non-dilutive up to and following initial Seed Capital raising, but fully dilutive thereafter equally with all other shareholders in proportion to their respective shareholding.

A typical equity position for a Portfolio Company during Seed Capital Stage Is:

Shareholder Equity
Founder/s 50.5%
BIG and its Advisory Team 29.5%
Seed Capital Investors 20.0%

 

Following major Series A Capital Raising, the capital market typically demands a further 25% – 30% dilution of all existing shareholders.

However, there are various alternative for raising investment and project funding without the further issuance of new shares which may suit your business.  For example:

  • Licensing
  • Advances on royalties
  • Joint venture
  • Asset funding
  • Convertible note loan
  • Government grants
  • R&D tax rebates
  • Strategic development partnerships

BIG recognizes the importance of the decisions Innovators need to make and the impact these decisions will have on the future commercial success of their project.  Accordingly, Innovators are encouraged to hear about the experiences of others.  At your request, we will facilitate introductions to our Portfolio Companies for reference purposes.