Investor Readiness Scorecard

Core process demonstrated at bench scale with reproducible results

You can produce your target ingredient/product consistently across multiple runs with documented process parameters.

Preliminary TEA completed — COGS within 3x of target price

You have a credible estimate of your cost of goods at commercial scale, and it is within the range of commercial viability.

IP strategy defined and initial protection in place

You have made a deliberate decision about patent vs. trade secret, and have taken initial steps to protect your core innovation.

Scale-up risks identified and mitigation plan documented

You have a clear understanding of the technical risks of scaling up and a plan for addressing them.

Customer discovery completed — 10+ interviews with target buyers

You have spoken directly with at least 10 potential customers and can articulate their specific pain points and purchasing criteria.

At least one paid pilot or LOI signed with a strategic partner

A real organisation has committed, in writing, to testing or purchasing your product.

Clear revenue model with validated pricing

You know what you will charge, who will pay it, and why they will pay it — supported by evidence from customer conversations.

Competitive landscape mapped with clear differentiation articulated

You know who your competitors are, what they offer, and why your solution is meaningfully better for your target customer.

Regulatory pathway identified and timeline documented

You know exactly which regulatory approvals you need, in which markets, and have a realistic timeline for achieving them.

Regulatory costs budgeted in fundraise

Your capital raise includes a specific allocation for regulatory costs, based on a realistic estimate.

Pre-submission dialogue initiated with relevant authority

You have had at least one conversation with the relevant regulatory body (EFSA, FDA, FSA) about your product.

Label and marketing claims reviewed for compliance

A qualified regulatory consultant has reviewed your labels and marketing materials for compliance.

Core technical capability in-house or contracted

The scientific expertise required to execute your R&D roadmap is available to the company.

Commercial leadership identified (hire or advisor)

Someone with credible commercial experience is actively involved in the business.

Advisory board includes at least one industry operator

Your advisory board includes someone who has built and scaled a food ingredient or product company.

Capability gaps documented and hiring plan in place

You have a clear view of what capabilities you are missing and a plan for addressing them.

18-month financial model built and stress-tested

You have a bottom-up financial model covering the next 18 months, with revenue, cost, and cash flow projections.

Capital requirements linked to specific milestones

Every euro of your fundraise is linked to a specific technical or commercial milestone.

Use of funds clearly articulated

You can explain, in one slide, exactly how you will spend the capital you are raising and what it will achieve.

Path to next funding round defined

You know what milestones you need to achieve to raise your next round, and at what valuation.