Startup Funding: Jim Mellon, Exec Chairman, Agronomics Jim Mellon, Executive Chairman of Agronomics, a leading VC firm that is helping to curate a future wave of biotech's in the UK, reveals what investors really want - and how founders can stand out.

Jim Mellon, Executive Chairman of Agronomics, reveals what drives investor trust and smart growth.

What are the top three things founders should focus on when preparing to raise their first round of funding?
Firstly, without a doubt, what you need is a realistic plan, source feedback from close mentors, but ensure your plan is feasible to make it attractive to outside investors.

Secondly, be reasonable with the amount of money you intend to raise and provide as much detail as possible as to its use for the company's future.

And finally, maintain a reasonable expectation of value. In previous years, funds could be raised on hype and hype alone, that's changed now, and any and all capital demands a good return.

When evaluating early-stage startups, what key factors do you prioritize?
Firstly, a comprehensive strategy is crucial. Investors need to be able to see the direction in which this startup intends to go, not just for the next 12 months but for the next 2-3 years down the line.

Secondly, I need to be able to see your capability and work ethic, starting a business from scratch is one of the most difficult processes you're likely to undertake, for some, it's too much. Investors need to be able to see that you have the capability to take the vision and make it a reality, and that when the going gets tough, your work ethic will keep you locked in to the mission at hand.

Finally, what is that 'Mission' and what is its credibility in the current environment? Does it serve a positive purpose? I'm always on the lookout for startups and scaleups that have a mission that can bring a positive impact to the world and the environment. And it's always an added bonus if you manage to incorporate a USP into the mix!

How should founders handle a "no" from an investor? What's the best way to build long-term relationships, even if they don't secure investment straight away?
Anyone working in the startup/scaleup space is going to be accustomed to hearing the word 'no'. It's a natural byproduct of trying to build something new and exciting, that some people will naturally not go for it. That said, keep those people who have said 'no' to you in the past on your radar, you never know who might come back around to you and your business in time.

And always be polite! Professionalism and courtesy are often overlooked traits in this industry full of bravado and swagger, but it's the people who manage to take a knock on the chin like a 'no' and maintain their composure that are truly the ones you want to work with.

What startup sector or trend excites you the most at the moment, and why?
For me at the moment, it would have to be the robotics sector. I'm confident that in the next couple years we're going to see this sector grow to be a massive industry fusing the best of AI with novel mechanics and manufacturing as well as battery technology which is constantly improving. Likewise as governments and private sector alike look for new ways to improve productivity, robotics is perfectly placed to help aid this mission and to deliver increased growth to the entire economy.

Which three start-ups funded by Agronomics this year excite you the most - and why?
There are a handful of incredible developments happening in the Agronomics portfolio.

The ones I'm most excited about include:
Liberation Bioindustries is in the process of completing an exciting and industry-defining facility that will focus on producing novel proteins.
Clean Food Group, are going to be producing sustainably-produced palm oil in massive quantities by 2026, the environmental benefit of this will be unparalleled.
Finally, Blue Nalu, our cultivated bluefin tuna startup, is predicted to benefit from significant revenue in the next 12 months.