What is the benefit or value you're creating for your business?
Managing the team: developers, designers, marketers, financiers
Making sure everything is on track and ready for launch
How are you leveraging internal resources (funds, time, knowledge, etc.) to support this initiative?
I've raised every cent for this investment from connections in the industry. A private fund and few individual investors.
My time in banking has taught me all I've needed for this venture so far from raising capital to valuation and managing funds.
Expand on your answer, explaining the long-term funding and support plan.
We've raised a small seed Round to bring the venture to where it is (build prototype, light marketing, legal protection, etc)
We are looking to raise around $1m in a second round when we have a decent initial user base. This will be used for full-time hires, office space, a full-time development team, upgraded servers, deep legal protection globally (trademarks, patents), and a team to develop a complex algorithm for the Ogle score software that we plan to develop next year when the app gains traction.
Tell us about your partnerships across your company and externally that are key to your project's success.
Our investors worked in very high positions in Goldman Sachs, Standard Chartered, marketing firms and IT development firms.
We are in contact with several VC funds for round 2 and a few celebrities for marketing.
Overall, we have a very solid team in place and some very qualified names eager to take part.
What internal support have you gotten for your project? What kind of push-back have you received?
Push-back is the fear it might take time away from work, or pose conflicts of interest, etc..
Internal support: everyone loves the idea, several individuals are eager to invest and take part.
I've been encouraged to pursue the project as it looks very promising.