Funding tips for Procuretechs – Ruth Cremer from Entrepreneurial Education

The Procurement Software Podcast

In this episode of the Procuretech Podcast, host James Meads is joined by Ruth Cremer. Ruth is a former investment manager for IT startups at Europe's most active seed investor. She's also an adviser to the German version of the famous TV series Dragon's Den (or Shark Tank, for US listeners). She joins James for a conversation about how startups should behave when applying for funding, her new book, and why numbers are sexy.

Funding tips for Procuretechs – Ruth Cremer from Entrepreneurial Education

Timestamps:

3:11 How did Ruth get into the field?

• Starting her own business out of frustration and desperation.
• Numbers are sexy, and procurement and supply chain is sexy too!
• How much do venture capital companies know about the industries they are investing into?

7:22 How to gain a profile by looking at specific industries?

• Everyone has to start somewhere.
• VCs tend to focus on either B2C or B2B products.

9:17 What investors want in a pitch

• What investors want to see in a pitch.
• The classic mistakes that founders typically make.
• Making tech easy for non-tech savvy people to use.
• The importance of having a broad mix.

14:46 How big is the market for start-ups?

• How big the market is for a start-up.
• How to get to enterprise customers.

16:46 Selling to small and medium-sized enterprises.

• Easier for startups to sell to small and medium-sized enterprises.
• The VC world and what they look for.

19:17 The typical warning signs of a startup on the edge.

• The typical warning signs of a potential startup.
• Checking the business model.
• How to do research on startups.
• Resources for research on funding rounds.

24:21 Looking at the number of employees and the growth.

• Using LinkedIn to see if a company is growing too fast.
• LinkedIn insights.

26:41 How can corporates make it easier to work with startups?

• How corporates can make it easier to work with startups.
• Making the compliance process easier.
• Start-ups can do something here.
• How to learn more about Ruth.

And that wraps up another episode of The Procuretech Podcast! Thanks to Ruth for sharing her insights with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there! If you want to learn more about Ruth or Procurement Education, check out the useful links below.

Stay in touch!

• Connect with Ruth on LinkedIn
• Check out Ruth's website
• Download our Tech Map for Enterprise
• Download our Tech Map for Mid-Market
• Download our Tech Map for SMEs
• Find your perfect procurement tech solution in our Software Finder app
• Sign up for the Procurement Software Newsletter
• Book an Intro Call and let’s talk all things Digital Procurement!
• Connect with James on LinkedIn