Hi again, here is the repost, question 2 only.let me know if you have any questions.Entrepreneurial Finance
Case Study
EF 3-1
Go-Figure, Inc.1
Go-Figure, a newly formed corporation, has developed a proprietary circuit board
inspection system that offers a high-speed way to inspect boards for defects. Data indicate
that 10 to 25 percent of circuit boards that leave a manufacturing line have defects such as
wrong polarity, missing components, wrong components, etc. Quality control is a serious
problem for manufacturers as, in aggregate, they place 2 to 5 million components on circuit
boards per day, a number that is increasing rapidly. As circuit boards become smaller and
more densely populated with components, the potential for defects increases, as does the
difficulty of detecting the defects.
Go-Figure uses a unique technology for circuit board inspections and has applied
for a patent on the technology. Product testing shows considerable detection success and
the technology is much less costly than alternative mechanical methods of inspection and
visual inspection. Visual inspection is prone to error and is very time-consuming.
Preliminary market research indicates that, worldwide, there currently are 30,000
manufacturing lines that could be served using the Go-Figure technology.
Go-Figure has developed the technology and a prototype, and has arranged for a
host site where it can demonstrate use of the system. The firm is seeking an additional $1
million from outside investors. It proposes to raise equity capital from business angels by
issuing them common stock at $1 per share. Minimum investment is $25,000. The
entrepreneur and members of the board own existing equity. The management team is
looking for additional expertise and is willing to consider board membership for a wellqualified investor.
1
The actual company name and product has been disguised.
Copyright © 2019 by Richard Smith of Claremont Graduate University. No part of this publication may be
reproduced without permission.
Document1, 02/17/2021 6:12 AM
You are an employee of Go-Figure, and have been deputed with the job of putting
together a draft business plan that will be circulated to prospective investors.
1.
As a starting point, look at some Internet sites on business plans and develop a brief
outline of what you believe the major parts of the Go-Figure business plan should
be.
2.
Prepare a list of questions you believe any outside investor would want to have
answered before investing, e.g., What will be done with the proceeds? What is the
exit mechanism that is contemplated? Make this list as complete as possible.
3.
After you have developed the outline, explain in which section(s) of the plan each
of the following might be addressed.
(a).
Commitment of the entrepreneur
(b).
Present and future financial needs
(c).
Specifics of the opportunity
(d).
Significant risks
(e).
Competition
(f).
Sources of competitive advantage
(g).
Capabilities of management
(h).
Harvesting
4.
Once you have thought about the outline in more detail, it is certain that you will
have a list of questions you will need to have answered, or at least, researched, prior
to completing the plan. What are these questions? What are your suggestions for
getting them answered?
Document1, 02/17/2021 6:12 AM
2
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