Rajasthan Angel Innovators' Network (RAIN) is a group of Angel investors in Jaipur interested in investing in early stage businesses, which have a potential to create scale. The members of the RAIN have had prior entrepreneurial and/or strong operational experience that they wish to bring to early stage businesses. They share a passion to enable more early stage businesses to create scale and value. By focusing on startups, RAIN will also address the current acute lack of funds available to early stage companies. The members at RAIN believe that early stage businesses require more than just money to succeed. They require close mentoring and inputs on strategy as well as execution.
The success rate of early stage businesses can significantly be enhanced if such guidance is available on a constant basis. In line with this philosophy, the Group members collectively commit not just money, but also their time and expertise to investee companies. This document aims to evolve and spell out a framework under which likeminded members can "network" together and work synergistically to achieve certain common objectives in the above areas, while not requiring to operate under the more traditional but rigid models such as VCs, etc. At the same time, it is recognized that, in order to ensure longevity and scalability of this new model, there should be some minimum rules and operating guidelines laid down.
RAIN is interested in investing in early / idea stage businesses, with a potential to create disproportionate value, in the following domains:
Any domain preferably driven by technology or services with potential of high scalability and could be started with minimal capex.
Stap 1 : Start-ups send their business proposal/pitch deck via email (firstname.lastname@example.org) or submit via website (www.rainjaipur.co.in) or directly to the Chairperson at his email id email@example.com
Stap 2 : Pitch deck is forwarded to the screening committee
Stap 3 : Screening Committee reviews and selects the proposal for final deal flow meeting (it may take a week’s time or more if there is some questions or clarifications that are needed by the screening committee).
Stap 4 : Start-ups are informed about selection of the proposal and even if a startup is not selected (it may take 7-10 days). Start-ups are also asked to fill up RAIN questionnaire.
Stap 5 : Once the Date for the deal flow is decided by the screening committee, invites are sent out to the selected startups (first in first out basis).
Stap 6 : Start-ups are supposed to revert and book convenient time slot (30 mins). Start-ups may not get their preferred slot but their presentation is confirmed.
Stap 7 : Start-ups are informed about the confirmation well in time and are asked to send the latest updated PPT for deal flow meeting which will be used for presentation.
Stap 8 : Deal flow is conducted on due date. (About Deal Flow meetings: Deal flow meetings are conducted every month. 7-8 proposals are screened at a single deal flow meeting. 30 minutes slot is provided to each start-up which consists of 15 minutes presentation and 15 minutes Q&A. Proposals are invited for deal flow on First in First out basis. So, for a startup to get invited for coming/next deal flow may take a month or two. Invites are sent out mostly 10-15 days prior to the date of deal flow. Start-ups can present either via Skype thru an Audio call or in person at our office if they would like to come to Jaipur. There are no charges for screening. However, if any investment happens via RAIN then RAIN charges 2% of the total investment from the startup.)
Stap 9 : The startups which could not be selected are informed within a week’s time post deal flow meeting.
Stap 10 : For selected start-ups, one Lead is decided. Lead is directly connected to the start-up and gets more information to understand if required or else proceeds for due diligence. (this process may take 15-20 days or more depending on the availability of Lead)
Stap 11 : Term Sheet is negotiated and investment takes place.