[greghinch]

The main problem here seems to have been a lack of understanding that it's essentially a requirement now in the UK to be set up for EIS/SEIS if you want to raise money. Investors expect it.

We've been through several rounds of fundraising, and as an American from the bay area over here, it's definitely not the same environment as you hear about from YC companies, etc. raising in the Valley. But the UK/European market is absolutely smaller and more fragmented (language barriers alone are massive) so opportunities are not nearly as large. You also don't have the same degree of FoMO[1] going on, as there just haven't been enough big exits. I wouldn't expect that climate to change any time soon, or with any expedience.

But definitely be registered as a company in the UK, and set up for SEIS[2]/EIS[3], if you want to raise money here.

[1] http://en.wikipedia.org/wiki/Fear_of_missing_out

Edit: Links to relevant docs on gov.uk

[2] https://www.gov.uk/seed-enterprise-investment-scheme-backgro...

[3] https://www.gov.uk/government/publications/the-enterprise-in...

[sherm8n]

We were set up for SEIS/EIS and had an accountant review every thing. They then drafted the advance assurance to send over to HMRC. Definitely worth it to get this done before you start fundraising.