How to complete your Debut Sessions ASA on SeedLegals

You know how on Dragons’ Den the dragons bring a pile of money with them? Well, that doesn’t work on the internet, so we partnered with Ascension Ventures to create the online equivalent for the hugely popular Debut Sessions pitch event. We created a special version of an Advanced Subscription Agreement (we call it a SeedFAST) that #DSLive finalists and Ascension both sign before the event.

• If you’re a winner, it commits you to taking Ascension’s investment, and allows them to make that investment instantly, as everything is already signed.
• If you’re not a winner, no problem, the agreement just lapses.

The agreement also lets you raise additional money, beyond Ascension’s investment, in fact it encourages you to do so. And of course we’ll help you sort all that on SeedLegals super-easily and efficiently.

So that you can take part in #DSLive, we need to make sure that the document you create is exactly the agreement that Ascension is expecting to see. Here’s a quick guide that will help you make all the right choices as you go over the Key Terms of the deal.

You will have seen from the template published by Ascension that there will be specific requirements in relation to the size and dilution of your next funding round, don’t worry if anything in this guide that does not match that template. If you follow these steps, all the necessary wording will be there.

1. create your company on SeedLegals.
2. select Funding in the left menu.
3. click to create a new SeedFAST
4. in How much are you raising? enter £100,000
5. click to add an investor, search for MNL (Ascension) Nominees
6. select SEIS as the investment type

Great, your SeedFAST is created!

Next, configure the deal terms for your SeedFAST.

Go to Key Terms, and for each for these questions, select the corresponding choice:

Amazing, you’ve just created the agreement that will allow Ascension to instantly invest in your company if you’re a #DSLive winner.

Four more things for you to do:

1. Hit the web chat button, let us know you’re done creating it, and we’ll unlock it for you (you’ll only pay us for the legals if the investment goes ahead, otherwise there’s no charge).
2. Carefully read the agreement, of course!
3. Sign it
4. Click to share it with the Ascension Ventures signatories.

Anything you need – help, questions, strategic advice, pitching help, whatever, just hit the web chat button, we’re here to help!