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How can I approach friends and family to invest in my healthcare startup?

Christina Hernandez Sherwood on April 28, 2014

How can I approach friends and family to invest in my healthcare startup?

Friends and family are the only investors you're likely to encounter who will be predisposed to saying yes, but you still owe them a clear and detailed presentation of the opportunity and risks.

Here are some tips for approaching friends and family for funding:

  • Be prepared. Set a meeting and show up with a practiced, organized presentation.
  • Communicate the risks. Be honest and upfront about the high risks involved.
  • Write down your agreement. Make sure it includes a repayment plan.

Related: Funding Sources for Life Science Startups

Photo by Africa Studio 

FAQs are a weekly feature on eMed for current and aspiring healthcare entrepreneurs.

Category:  Creation  Tags:  FAQ, funding, fundraising

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