Raising capital can be a make-or-break task for startups, especially those struggling to get off the ground and toward profitability. Unfortunately for entrepreneurs, fundraising is a complex game. It requires not only a compelling idea and business plan, but also a solid understanding of psychology, salesmanship, and interpersonal skills in order to get investors to commit capital.
Josh Santos learned that lesson firsthand. As the cofounder of Noya, a climate tech company that retrofits cooling towers with carbon-capture technology, he and his cofounder ran into multiple obstacles and setbacks when they set out to raise capital for their company.
Santos talks through three lessons that would have helped him in those early days. From the benefits of creating investor FOMO to knowing when exactly you should reach out to potential investors, here are some strategies that can help young startups secure the capital they need to succeed.