Introduction:
In the world of startups and innovation, opportunities can come from unexpected places. For us, that opportunity came in the form of Techstars Farm to Fork, a program that ignited our journey and set us on the path to creating an American enterprise. Today, we’re excited to share our story of how we leveraged our participation in Minneapolis (USA) to secure a convertible note of $120,000 and, therefore, anticipated the establishment of a Delaware C-Corp to facilitate investment and spearhead business development in the United States market.
The Genesis:
Our journey began with an idea – an idea that we are on a mission to revolutionise the energy efficiency in manufacturing using Artificial Intelligence.
However, like many startups, we needed not just a groundbreaking concept, but also the right resources and support to make it a reality. That’s when we stumbled upon Techstars Farm to Fork, an accelerator program aimed at supporting innovative startups levering on a wide network of mentos, industrial and business partners and, never the last, investors.
The Techstars Experience:
Participating in the Techstars program in Minneapolis turned out to be a pivotal moment for us. During the program, we were immersed in a nurturing ecosystem of mentors, industry experts, and fellow entrepreneurs who shared the same passion to innovate.
The program provided us with invaluable guidance, access to a vast network, and the resources needed to hone our business model and go-to-market strategy.
The Investment:
One of the most significant benefits of participating in Techstars was the opportunity to secure an investment. Through the program, we received a convertible note of $120,000, a financial boost that allowed us to take our venture to the next level. This injection of capital was a testament to the potential of our business and a validation of our vision.
Choosing Delaware as Home:
Along securing the investment, we faced an important decision. Where should we establish our company in the United States? After careful consideration, we opted for the simplest and the most straightforward Delaware C-Corporation structure.
Delaware is renowned for its business-friendly environment, robust legal framework, and a judiciary with extensive expertise in corporate matters. This decision not only facilitated the investment process, but also provided us with a solid foundation to navigate the complexities of doing business in the U.S.
Managing the US Market:
Establishing a presence in the United States was the logical next step. The support and resources we gained from Techstars Minneapolis, combined with our newly acquired capital, positioned us for success in this market. We began building a team, forging partnerships, and developing strategies to tackle the unique challenges and opportunities presented by the U.S. market.
Looking to the Future:
Our journey took an unexpected turn when we became part of the Techstars Minneapolis family. The investment and establishment of a Delaware C-Corp have set the stage for our expansion and growth in the United States.
We are excited about the opportunities ahead, starting from the Rust belt, and are committed to realising our vision of transforming the manufacturing industry, whether steel, food & beverage, paper or chemical.
Conclusion:
Techstars in Minneapolis became the catalyst for our startup journey, and the convertible note of $120,000 triggered the preparation for a fundraising in the US, that will undoubtedly help us navigate the complex landscape of the U.S. market.
We are grateful for the support and opportunities that Techstars provided and are eager to continue our journey as we work towards bringing our innovative ideas in the Farm to Fork space to fruition in the United States. The future is bright, and we can’t wait to share the next chapter of our story with you.