The Teamy app helps sports teams get timely insights into team members’ attendance at games and practices. In addition, extra features have been added for team members and coaches, as well as for the club organization. What started as a hobby project for his own team is now a professional platform used by over 200,000 athletes in various countries.
Can you tell us a little about your startup?
We, the three Teamy founders, have backgrounds in IT. We built an app out of frustration that members of our soccer team often waited until the last minute to cancel their participation in a game. This caused stress for the coach. If he couldn’t find a replacement, the game would be canceled. That’s very frustrating for all team members. The app, with its push notifications, turned out to be a godsend for many teams.
What was the main reason you decided to participate in the IRP?
We want to continue professionalizing our business. If you want to successfully carry out an initiative, you have to invest time and money in it. That’s why we’re looking for an investor. Founded, the regional startup and scale-up community for the Northern Netherlands, pointed us toward the Investor Readiness Program (IRP). This program is accessible in terms of cost and time commitment, so we thought, “Let’s just go for it.”
What did you learn concretely during the IRP?
We’ve gained a much better understanding of the different types of investments available, and the factors to consider when deciding whether or not to choose a particular type. What terms can you expect, and which ones should you watch out for? You’ll get access to useful resources you might not have thought of on your own, calculation tools, and things like that.
Did the IRP help you tell your story better to investors?
You’ll learn how investors view you, what they look for, and what their “red flags” are. If you come prepared—for example, by presenting a counterproposal—you’ll find that you’re taken much more seriously. Through practical mock interviews, you’ll discover which parts of a pitch actually leave a lasting impression on others.
Have you been able to apply what you learned? How did that go?
We were in the middle of a process with an investor, and the knowledge we gained in the IRP regarding the terms and conditions really helped us. We now expect to be able to close a good deal soon.
Are there any tips you would like to give other founders?
I can offer a lot of advice based on my own experiences as an entrepreneur. I also realize that every person and every situation is different. My most important piece of advice is that, as an entrepreneur, you need to be well prepared before you start talking to financiers and investors.
Would you recommend the Investor Program—and if so, for what type of startup founder?
If you’re really planning to commit to your business full-time, I would definitely recommend taking a program like the IRP. It will put you in a much stronger position when negotiating with investors.
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