扒哥吃瓜

PREPARING FOR INVESTMENT听

INVESTOR READINESS CHECKLIST听

In preparing for investment, especially at critical stages like Series A, founders must present a clear,听credible听and compelling story that builds investor confidence quickly.听听

Investors are not just looking for ambitious technology; they want to build听a viable听and well informed 鈥榠nvestment thesis鈥� that articulates a real market opportunity, a capable team with credible traction and a coherent plan that aligns with financial, governance听and sector realities. This means you need a clear 鈥榖usiness thesis鈥� supported by succinct, evidence-backed materials that focus on what truly matters.听听听听听

This checklist breaks down the essentials that investors scrutinise when deciding whether to back your business. Each item is vital to听demonstrate听that you understand your market, customers, competitive听advantages听and risks, and have a leadership team behind you ready to execute.听听

Investor Readiness Essentials Checklist听

• A clear vision听driving credibility in your market听听听

• Articulation of the customer proposition (benefits over features)听听听

• Show you have the right management team to drive growth听听听

• Demonstrate traction with pipeline evidence and revenue projections听听听

• Market sizing with evidence-backed TAM / SAM / SOM听听听

• Focused听initial听market niche and competitive differentiation听听听

• Aligned story with your financial, governance and team听听听

• Clear sector-aligned growth plan with strong upside potential听听听

Further detail on each item and how investors will use it in their decision-making can be found on the following pages.听

1.听A clear vision听driving credibility in your market听

Clearly articulating your vision is the first step to enticing an investor to your business. It is particularly relevant to start ups, as businesses scale, the focus will shift more towards market position, business model,听track record听and growth plan.听

A clear vision听combines purpose,听ambition and direction听and answers three questions:听

• Why do we exist?听听听

• Where are we going?听听听

• How do we make an impact?听听听

A well-crafted vision becomes a north star for the business, guiding decisions, inspiring听confidence听and helping investors and partners see the long-term potential.听

Having a clear vision is essential when engaging investors as it provides confidence,听clarity听and conviction for investors to believe in both the business and its leadership. A strong vision tells investors not just what the company does, but where听it鈥檚听going and why it matters, helping them see the long-term opportunity and return on their investment.听A clear vision听is so important when seeking investment because it will:听

• Demonstrate听strategic clarity听听听

Investors back businesses with direction. A well-defined vision shows that the leadership team understand the market and has the conviction to preserve through the challenges ahead with purpose rather than reactively.听听听听听听

• Inspire confidence in leadership听听听

A compelling vision signals ambition and capability. Investors want to see founders who can articulate a meaningful future and motivate others to follow it, including employees,听customers听and future funders.听听

• Differentiate through scale of ambition and value opportunity听听听

In a crowded market, vision helps a company stand out. It highlights what makes the business distinctive and how it intends to create value in ways competitors听can鈥檛. Investors are drawn to businesses with a unique purpose and direction.听听

• Create a unified culture and shared understanding of success听听听

A clear vision听will attract investors and staff who are aligned to that vision. This will improve staff retention and听facilitate听better stakeholder management and trust.听听听

• Support long-term partnerships听听听

Investors are more likely to commit when they see a long-term opportunity that matches their own strategic interests.听A clear vision听provides a foundation for ongoing collaboration, not just a one-off transaction.听听

2. Articulation of the customer proposition (benefits over features)听

A strong customer proposition shows investors that your business听truly understands听its customers and what motivates their choices. Whether听you鈥檙e听redefining a process, enhancing efficiency, or creating something entirely new, clarity about who your customers are and why they will choose you is critical to building investor confidence.听听

Demonstrate commercial traction and momentum 鈥� not just technology innovation.听

Below are some key questions to consider when defining your customer proposition:听听

• Who is your听customer?听听听

Define your target buyers precisely. What are their specific characteristics e.g. services, company size, industry, geography?听

• What do you enable them to听achieve?听听听听听听

Describe what your product or service empowers customers to do better, faster, or more efficiently than before.听听听

• What advantages do they听gain?听听听听听

Link to measurable outcomes and quantify where possible (improved performance, enhanced reliability, reduced cost, access to new capabilities).听听听听

• Why is your offer听distinctive?听听听听听

What makes your proposition hard to replicate? Proprietary data, technical edge, novel approach, strategic partnerships?听听

• What are the听additional听demand听drivers?听听听听听

Increase urgency by linking your proposition to current market dynamics (technological inflection points, regulatory change, or competitive pressures) that make adoption urgent.听听听听听听

• How can you bring it to life with examples and听evidence?听听听

Case studies or client testimonials can be used to bring this to life. If your company听isn鈥檛听trading yet, then use other proof points such as market surveys, quotes from perspective customer interviews and quantified data points from credible sources.听听

Example 鈥� 鈥楽pace-Tech Scale Up鈥�:听

• Customer: Operators of low-Earth-orbit satellite fleets.听

• Opportunity: Enhance fleet reliability and longevity to support expanding Earth-observation demand.听

• Proposition: AI-driven satellite optimisation software increasing uptime by 30%.听听听

• Distinctiveness: Proprietary telemetry data and patented anomaly-prediction models.听听听

• 顿别尘补苍诲听诲谤颈惫别谤蝉: Regulatory focus on debris mitigation and insurers鈥� new performance criteria听make听operational optimisation a necessity.听听

3. Show you have the right management team to drive growth听

Your management team leads the听company听and their makeup matters deeply to investors. Curating the right team is key to the success of a smaller business, both for achieving sustainable growth and for attracting investor confidence. In the听early stages, investors often back people before products, so the quality, balance and credibility of the management team can make or break an investment decision.听听听

There are usually 3 key things investors are looking for in a management team: :听

1. Balanced teams that combine technical experts with commercial experience听听听听听 Demonstrate technical credibility by outlining key achievements to-date in product development and/or scientific achievements in the field. You will also need to听demonstrate听that your management team knows and understand the customer base and is able to sell into that customer base.听听

2. Track record of scaling and/or managing large operational teams听听听听听听听 Articulate the experience the management team has in scaling businesses or managing larger operational teams. This may be experience from听previous听roles or simply through听demonstrating听that you have hit every milestone to-date.听

3. Ability to recruit talent听听听听听 At each stage in your company鈥檚 evolution, it will require new skills and experience. Be cognisant of this and recruit accordingly. Your ability to听identify听gaps and recruit the best talent will speak volumes to an investor about your leadership capabilities.听

A well curated management team drives business growth and investor confidence.听听听

There are several ways the management team directly听impacts听on business growth: :听

• Strategic direction and execution听听听听听听

A strong management team has the capability to turn strategy into results, planning for the long-term but able to make fast, informed decisions in changing conditions.听听听

• Complementary skills and diversity of thought听听听

Growth depends on having a blend of commercial, operational,听technical听and financial听expertise. A balanced team with complementary skills avoids over-reliance on a single founder and strengthens the quality of decision-making.听听听听

• Operational resilience听听听

As the business scales, complexity increases. A capable management team helps put structure around growth, introducing systems,听governance听and accountability.听听

• Attracting and听retaining听talent听听听

Strong, credible leadership attracts high-calibre staff and partners. People want to work for a business where leadership inspires confidence and direction.听听听

• Credibility with external stakeholders听听听听

Customers,听suppliers听and strategic partners are more likely to engage with a business that has professional leadership, signalling maturity and reliability.听听

A solid management team is important for building investor confidence because:听听

• Investors back teams, not just ideas听听听听听

Even the best business model or product will fail under weak leadership. Investors look first for teams that have the experience,听skills听and chemistry to execute.听听

• Reduced execution risk听听听听听

A well-structured team shows investors that the business can deliver, from product development and customer acquisition to financial control and compliance. It reduces execution risk, one of the biggest investor concerns.听听

• Balanced leadership signals stability听听听听听

Investors want assurance that the company听isn鈥檛听overly dependent on a single founder or personality. A diverse and empowered management team shows succession planning, shared听accountability听and long-term resilience.听听听

• Investor alignment and communication听听听听听

Investors seek teams that are transparent,听coachable听and open to collaboration. A management team that communicates clearly and manages expectations well gives investors鈥� confidence in ongoing governance and reporting.听

• Track record and integrity听听听听听

Experience matters. Investors look for evidence of past execution, problem-solving under pressure and integrity in decision-making.听听听听

4. Demonstrate traction with pipeline evidence and revenue projections听

Investors want proof, not promises. Contracts, paid pilots, Letters of Intent (LOIs), partner letters, repeat customer usage data with dates and monetary values. Demonstrating traction with bottom-up evidence is one of the most powerful ways a business can build investor confidence. For investors, traction is proof that the听business has moved beyond concept or theory and is showing real market validation, that customers not only want the product but are willing to pay for it. Traction听validates听market demand and reduces perceived risk.听听

Investors want proof, not promises听听听听听听听听听听听听听听听听听听

Ideas are easy to pitch; evidence is harder to dispute. Investors need tangible proof that the business is solving a real problem, has听identified听its target market and is already generating measurable results.听听

Validates听market demand听听听听听听听听听听听

Traction shows that customers recognise the value of the product or service. It proves that the problem being solved is real, the solution works and there is willingness to buy, reducing perceived market risk.听

滨苍诲颈肠补迟别蝉听蝉肠补濒补产颈濒颈迟测听听听听听听听听听听听听听听听听

Consistent customer engagement and revenue growth suggest that the business model can scale effectively, a critical factor for investors seeking return potential.听听

Proves commercial viability听听听听听听听听听听

Evidence-backed traction shows that the product or service works in practice and has sustainable demand. It bridges the gap between potential and performance.听听

De-risks the investment听听听

For investors, early evidence of revenue, signed contracts, paid pilots, or Letters of Intent (LOIs) provides assurance that the business model is听viable. It reduces uncertainty about commercial potential and scalability.听听

Increases valuation confidence听听听听听听听

The more real-world proof you can show, the less speculative the investment is. Evidence allows investors to price risk accurately and justify stronger value.听听

Demonstrates听execution capability and builds credibility听听听听听听听听听听听

Investors want to see that the team can deliver results, close deals and manage growth. Demonstrable traction gives confidence that the business can execute its strategy and converting interest into tangible commercial outcomes.听听

Investors are looking for evidence-backed traction that can be independently verified and tied to commercial performance. Key examples include:听听

• Contracts or signed purchase orders听听听听

Firm commitments that generate revenue.听听

• Paid pilots or trials听听听听

Proof that customers are willing to pay to test the solution.听听

• Letters of intent (LOIs) or partner letters听听听听

Clear indications of upcoming commercial relationships.听听

• Revenue growth trends听听听听

Data showing increasing sales, renewals, or repeat usage.听听

• Customer retention and engagement metrics听听听听

Frequency, usage rates, or net promoter scores.听听

• Pipeline data with dates and values听听听听

Realistic evidence of future business opportunities.听听

Higher visibility,听predictability听and repeatability of revenue will enable investors to place higher value on these. The more quantitative and time-bound this evidence is, showing actual figures,听timelines听and conversion rates, the better.听听听

5. Market sizing with evidence-backed TAM / SAM / SOM听

Being able to clearly听evidence听the size of your market, through credible, data-backed analysis of the Total Addressable Market (TAM), Serviceable Available Market (SAM) and Serviceable Obtainable Market (SOM), is essential for any business seeking investment.听It听demonstrates听that the opportunity is real,听scalable听and well-understood, giving confidence that the business will deliver returns.听听听

Demonstrating market size is essential because:听听

Investors look听for:听

• Validates听the scale of the opportunity听听听听听听听听

Investors need to know that the business听operates听in a market large enough to justify their investment. A clear, evidence-based view of TAM, SAM and SOM shows the potential for growth,听scalability听and return on capital.听听

• Reduces market risk听听听听听听听

A well-defined market assessment听demonstrates听that the team understands who the customers are, where they are and how they buy. It reassures investors that the opportunity听isn鈥檛听overestimated or speculative.听听

• Shows strategic focus听听听听听听听

Breaking the market down into TAM, SAM and SOM shows strategic discipline, that the business knows how to prioritise and target the most accessible and relevant segments rather than trying to 鈥渟erve everyone.鈥澨�听

• Informs realistic financial forecasting听听听听听听听

Market sizing provides the foundation for credible sales and revenue forecasts. Evidence-backed numbers help investors evaluate whether projected growth aligns with market potential and competitive dynamics.听

• Builds credibility and investor confidence听听听听听

Investors are far more likely to trust forecasts supported by independent data, customer听research听and logical assumptions. It signals that the business is rigorous, data-driven听and commercially mature.听听

Investors are looking for evidence-backed, well-structured market analysis that shows both the scale of opportunity and the plan to capture it:听听

• Total addressable market (TAM)听听听听听听

The total global or regional demand for the product or service if every potential customer were reached. Investors use this to gauge the opportunity鈥檚 upper limit.听听

• Serviceable available market (SAM)听听听听听听

The听portion听of the TAM that the business can realistically serve based on geography, target customer type, or regulation, showing relevance and focus.听听

• Serviceable obtainable market (SOM)听听听听

The share of the SAM that the business can capture in the next 3鈥�5 years, a realistic, evidence-based target supported by strategy,听resources听and traction. (# target accounts 脳 expected average contract value 脳 win rate over 24鈥�36 months). An SOM around 1-5% of SAM with explicit assumptions signals credibility.听听

Investors want to see that these figures are:听听

• Grounded in evidence听听听听听听

Market reports,听validated听data and customer research, not assumptions.听听

• Logically connected听听听听听

Each stage (TAM 鈫� SAM 鈫� SOM) flows from a clear rationale.听听

• Linked to strategy听听听听听

Showing how the business intends to reach its target share.听听

• Proportionate听听听听听听

Ambitious yet credible, avoiding inflated or 鈥渉eadline鈥� figures.听听

6. Focused initial market niche and competitive differentiation听

Having a clear and focused听initial听market niche, and a well-defined explanation of how the business differentiates from competitors, is essential when seeking investment. It听demonstrates听to investors that the business understands where it can win first, how it will build defensible strength and how that foundation supports long-term growth.听听

It鈥檚听essential to define a clear听initial听market niche because:听听

• Focus builds credibility and early success听听听听

Investors prefer businesses that dominate a narrow, defensible niche before scaling into broader markets. A focused approach shows strategic discipline, efficient use of resources and a higher likelihood of achieving product鈥搈arket fit quickly.听听

• Building value and momentum听听听听听听

Trying to serve everyone from the start dilutes focus, stretches听capability听and hinders growth momentum within your target customer base. A focussed market allows you to build clear strengths that stand out from competitors in the market. Value is built on clear and well-articulated strengths of a business.听听

• Establishes听proof of market leadership听听听听听

Winning in a defined segment allows the business to听demonstrate听clear traction, measurable adoption,听revenue听and customer advocacy, which builds evidence for scaling. Dominating one niche builds investor confidence that the business can replicate success in adjacent markets.听听

• Shows strategic growth pathway听听听听听听

A clear听initial听niche acts as the launch point for expansion, showing how the business will move from its first market to adjacent opportunities. Investors want to see a logical, evidence-backed ladder for scaling, not a scattergun approach.听听

Differentiating from your competitors in this market is critical because:听听

• Proves defensibility听听听听听听

Investors evaluate whether a business has a sustainable competitive advantage that competitors cannot easily replicate.听It鈥檚听not enough to have听a good product, there must be a moat that protects market share and pricing power.听听

• Demonstrates听unique value creation听听听

Clear differentiation, whether through technology, data, business model, or customer insight, shows how the business delivers superior value to customers compared with existing alternatives.听听

• Reduces investor risk听听听听听

When a company can clearly articulate why competitors cannot easily copy its solution (e.g. through IP, cost advantages, switching costs, or regulatory barriers), it reassures investors that the business can defend its position and sustain long-term profitability.听听

Investors are assessing two key things, market听focus听and competitive defensibility. Specifically, they want to understand:听听

• Proven defensibility听听听听听

An initial听market niche where you can听establish听dominance before scaling.听听

• Winning edge听听听听听

What gives the business an advantage in its 鈥渨edge鈥�,听e.g. unique data, proprietary technology, cost efficiency, speed to market, or regulatory approvals.听听

• Defensible advantage听听听听听听

Why competitors cannot easily replicate or undercut, e.g. IP protection, cost curve advantage, regulatory moat, exclusive data, customer lock-in, or switching costs.听听

• Evidence of competitive insight听听听听听

Demonstrated understanding of current and potential competitors and how the business differentiates in practice, not just in theory.听听

• Scalable pathway听听听听听

Ability to grow in the existing market, new听products听and services to the existing customer base, or selling the existing product/service into adjacent markets.听听

7. Align story with your financials,听governance听and team听

For a business seeking investment, it is critical to show clear alignment between its story, financials,听governance听and team. Investors are not just buying into a vision, they are assessing whether that vision is credible,听coherent听and executable. A strong investment case requires that every element of the business reinforces the same underlying narrative.听听

Alignment across story, financials,听governance听and team is essential because it:听听

• Demonstrates听internal consistency and credibility听听听听

A powerful investment thesis must be visionary and internally consistent. Investors expect the financial model, governance听structure听and team composition to clearly support the business strategy and milestones. If the numbers, roles, or governance processes听don鈥檛听align with the stated growth plan, it undermines credibility.听听

• Strengthens investor confidence during due diligence听听听听听

Investors dig deep into the details. During due diligence, they compare what was said in the pitch with what the financials, governance听records听and team structures show. Consistency across these听signals听preparedness and professionalism, while misalignment raises red flags and slows down decision-making.听听

• Shows Operational Maturity and Readiness for Capital听听听听听听

When financial forecasts, governance processes and team responsibilities are well-defined and integrated, it听demonstrates听that the business is ready to handle external capital responsibly. It gives investors鈥� confidence that their funds will be deployed effectively and听monitored听through听appropriate oversight.听听

• Builds Trust and Reduces Perceived Risk听听听听

Coherence across all areas of the business, from story to structure, reduces surprises. Investors value transparency and honesty, including acknowledgement of gaps or risks, provided there are clear mitigation plans. This level of self-awareness and openness builds long-term trust.听听

Investors look for clear alignment and supporting evidence across three core pillars:听听

Financials

• Realistic forecasts that match the business鈥檚 strategic narrative.听听

• Unit economics that support scalability and profitability.听听

• Sensitivity analysis that听anticipates听different market outcomes.听听

Governance

• Appropriate board听structure and accountability mechanisms.听听

• Regular reporting with听appropriate cadence听evidenced听by supporting board packs and shows that the key sensitivities are being听monitored.听听

• Transparency in decision-making and performance tracking.听听

• Clear oversight for听financial management听and investor relations.听听

Team

• Defined roles and responsibilities aligned with strategic priorities.听听

• Evidence that leadership skills match the growth stage of the business.听听

• Succession planning and advisory support to fill any capability gaps.听听

Investors expect these elements to reinforce one another, forming a coherent and dependable picture of how the business intends to achieve its goals.听听

8. Clear sector-aligned growth plan with strong upside potential听

For a space business seeking investment, it is crucial to听demonstrate听a deep understanding of space-sector-specific growth drivers. The space sector听operates听within complex regulatory frameworks, long development cycles and rapidly evolving technology and cost dynamics. Investors need to see that the business understands these nuances as key factors shaping opportunity,听risk听and scalability.听听

Understanding space-sector growth drivers is essential because:听听

• Every market faces unique challenges, and space is no different听听听听听听

It is shaped by a mix of government policy, regulation, global听collaboration听and private innovation. Understanding these dynamics, and how they influence demand and investment timing, is vital for making credible projections and reducing risk.听听

• Demonstrates听sector听expertise听and credibility听听听听听

Investors back management teams that听truly understand听their environment. Referencing space-specific growth drivers such as regulatory shifts, technology cost declines, increased commercial adoption and key export markets shows the business is grounded in evidence, not generalised market optimism.听听

• Informs risk assessment and mitigation听听听听听

Be clear on constraints e.g. launch costs and supply chain dependencies, regulatory barriers such as International Traffic in Arms Regulations (ITAR), export controls, or licensing requirements. Being able to explain these gating items, and how the business plans to navigate them,听demonstrates听realism and awareness.听听

• Strengthens strategic positioning and investor confidence听听听听听

Understanding specific growth levers (e.g. miniaturisation of satellites, cost curve declines in launch, or the rise of downstream data applications) enables the business to position itself where value is moving in the sector. This builds confidence that the strategy aligns with real market momentum.听听

• Enhances the investment narrative听听听听听听

When a business can articulate how macro drivers, such as international collaboration, government procurement priorities, or space sustainability initiatives, connect to its growth strategy, it shows strategic alignment and foresight. Investors see a team that understands its niche but knows how to grow within it.听听

Investors assessing a space business are looking for evidence of sector fluency, a clear understanding of the factors influencing demand,听competitiveness听and risk.听听听

Specifically, they want to see:听听

• Regulatory awareness听听听听

Understanding of ITAR, export controls, launch and licensing frameworks and compliance pathways.听听

• Cost curve knowledge听听听听听听

Awareness of how declining launch and manufacturing costs听impact听the company鈥檚 economics and timing of market entry.听听

• Adoption trends听听听听听听

Data-driven insight into how commercial, government and defence customers are adopting听new technologies听or applications.听听

• Export market priorities听听听听听听

Identification of priority geographies for expansion, supported by evidence of demand, partnerships, or policy alignment.听听

• Risk mitigation plans听听听听听听

Clear strategies to address sector-specific bottlenecks such as regulatory delays, supply chain risk, or reliance on key partners.听听

Application: How to draft your short-form investable thesis听

An investment thesis is a concise, high-impact summary of why your business is a strong,听credible听and investable opportunity. It should capture the essence of the business, the听scalability听and the evidence that the team can deliver, all in short form document (c.2-4 pages) that investors can read and听immediately听understand.听听

Your investment thesis should follow this structure:听听

Headline summary (the 鈥渉ook鈥�)听听听听

Use the heading to make a statement that defines what your business does and positions it as a selling point.听听听听

Example: 鈥淭he leading UK company for technical flood risk monitoring.鈥澨�听听听听听听听听

Follow this with 6-8 bullet points highlighting the key attractions to investors making these specific to your business keep these clear,听concise听and punchy:听听

• Unique selling points of the proposition.听听

• Benefit to the customer/why you are winning in the market.听听

• Key KPIs or stats which clearly听demonstrate听track record听or benefit.听听

• The scale of the opportunity (market size or pain point).听听

• Skills and听expertise听of the management etc.听听

Market opportunity听

Show that the opportunity is large,听real听and growing:听听

• TAM / SAM / SOM: Use credible, evidence-backed numbers to size the market.听听

• Growth drivers: Highlight trends (cost declines, regulation, adoption rates).听听

• Niche focus: Define your听initial听market and plans for expansion听听

Keep it focused on evidence and scale, investors should听immediately听see that the market is both attractive and achievable.听听

The solution听听

Stick to the key selling messages:听听

• The solution听you鈥檝e听built and how it directly addresses a customer need or provides a clearly defined benefit.听听

• What differentiates your solution (technology, speed, cost advantage, regulatory moat, IP, unique data, etc.).听听

Investors should clearly see why customers care and why competitors听can鈥檛听easily replicate your advantage.听听

Traction and validation听

Provide bottom-up evidence that proves market demand and execution capability:听听

• Key customers, contracts, paid pilots, or LOIs (with dates and values)听听听

• Revenue growth or usage data showing adoption trends.听听

• Strategic partnerships, export activity, or regulatory approvals.听听

The goal is to prove traction, not just describe it (proof, not promises!).听听

Team and governance听

Show why your team can deliver:听听

• Founders鈥� and executives鈥� relevant experience,听track record听and complementary skill sets.听听

• Governance structure and key advisors (e.g. board composition, reporting cadence)听听

Investors back teams they trust who can combine vision,听capability听and discipline.听听

Financial snapshot and funding ask听

• Include key financial highlights: revenue to date, growth rate, burn rate and runway.听听

• Outline unit economics and how the current round will be used (e.g. product development, market entry, scaling).听听

• State clearly the amount being raised, the use of funds and the impact expected (e.g. revenue milestones, market expansion, team growth).听听

Keep this section data-driven and specific, investors should be able to see how capital translates into growth.听听

Investment rationale (why now, why us)听

End with a short, confident paragraph that answers the investor鈥檚 key questions:听听

• Why this market? (timing and growth drivers)听听

• Why this business? (unique position and traction)听听

• Why now? (momentum, regulatory shift, or market inflection point)听听

This section is your persuasive close, summarising the logic, timing and evidence that make your business a compelling investment opportunity.听听听听

Below we have articulated some key principles for drafting:听听

• Be concise听听听听听

Keep the word count low, be clear and structured. The thesis should be explainable in 60鈥�90 seconds, summarising 6-8 key attractions with statements backed by facts and 鈥渟o what?鈥� explanations.听听

• Use evidence, not adjectives听听听听听

Replace 鈥渉uge market鈥� with 鈥溌�2.3bn TAM growing 12% annually.鈥澨�听

• Keep visuals simple听听听听听听

Use one or two charts or graphics if helpful (e.g. market map, traction graph).听听

• Maintain听internal consistency听听听听听

The thesis must align with your financials, team structure and milestones, investors will check.听听

• Lead with strength听听听听听

Prioritise your biggest evidence points and advantages;听don鈥檛听bury them halfway down the page.听听

• Don鈥檛听over crowd each page听听听听听听

Investors will only spend听a short time听reviewing this, so make sure the key messages are easy for the eye to pick out. People will read in a 鈥淶鈥� motion, i.e. top left to top right,听then bottom left to bottom right so make sure the most important points are in the top left!听听

• Avoid dense text听听听听听听

Opt听for bullet points for accessibility. Investors sift through many pitches; clarity ensures yours stands out and is remembered. Easier comprehension leads to higher investor engagement and deeper diligence.

This information is a non-exhaustive summary of some of the factors which may be relevant to seeking investment in the space sector. Persons should take independent legal and professional advice before seeking any such investment.