What do UK startups need to know when looking for investment?

If it’s your first time raising, it’s important if not critical to build a warm network of key people however you can. It takes way longer than you think it will, if you’re not already well connected in the world of angels, VCs and family offices. Use LinkedIn to research and network as much as you can.

What should they be aware of before reaching out to VCs and other potential investors?

Everyone’s default starting position will be a ‘no’ (and understandably so). Build a thick skin and get used to the word no.

Build human connections first because very few people ever want to be pitched to blind and ensure you are seen as much as possible on LinkedIn for creating credible and thought-provoking content.

Be as prepared as you can be in terms of your business, its plan and trajectory and of course your figures.

Is there anything that they should be aware of that’s specific to the UK?

It’s a really tough climate in the UK at the moment to raise. Pre-seed requirements moved up one and are now much closer to seed, which makes it really tough to get going for the first time. But don’t let that deter an entrepreneurial spirit. Keep moving forward one step and one day at a time.