We’ve received quite a number of enquiries and business plans over the past two months. I’ve seen nearly 200 presentations now, and have brought 35 opportunities into the pipeline. Of these, 4 have already proceeded to investment stage, I’ve said no to 16, and that leaves 15 at various stages of assessment. An embarrassment of riches perhaps, but when I started Qi3 Accelerator, I promised to give each prospect a fair hearing, proper consideration and honest feedback. It’s as easy to dismiss ideas too casually as it is to get carried away by enthusiasm for ideas that stand little chance of succeeding.
A friend asked me yesterday whether the experience was making me more brutal. I’m not sure that I’d like to be brutal, but the good level of moderate quality proposals is certainly making me focus on weeding the pipeline down to a more manageable number before the New Year break.
If I was to summarise the overall challenge, it would be that very few of the remaining 15 prospects have everything in place. Most need a considerable degree of nurturing to become investible. So should we be putting the time in to do that, or should the entrepreneurs?