The first stage is the presentation of the opportunity. Generally, this stage consists of three steps; initial approach, full presentation, and submitting a detailed business plan. Initial approach ideally will happen through email to one of the Fund’s managers. We expect entrepreneurs to submit a short (1-3-page) executive summary outlining their business idea. You can refer to the “Resources” section for guidance on what we expect an executive summary to include. Based on our evaluation of the material submitted (which may include further questions), we will let the entrepreneur know if it makes sense to meet and hear a more in-depth presentation. Full presentation usually involves a face-to-face meeting or a conference call with one or more Fund managers. Entrepreneurs are expected to come ready (preferably, with a deck of slides) to present the opportunity in depth, and should be prepared to answer questions that may drill down into details. For more information on a full presentation meeting, and more guidance on what information we expect to be covered, refer to the “Resources” section. Based on our evaluation and the interaction during the presentation meeting, we may ask the entrepreneur to submit a detailed business plan for review. Usually, submitting a detailed business plan marks the end of the Presentation stage and the start of the Validation stage. Refer to the “Resources” section for tips and guidance on writing a business plan.