Q - Is this a charity program?
A - This is NOT a charity program. HiR Transcenders is a for profit venture that has a social purpose and that pays forward to its community. We believe that purpose and profit can work very well together. This program is a business accelerator and network of investors to help gender non-confirming entrepreneurs grow their companies. Entrepreneurs will make money as a result of participating in this program, therefore investors and organizers will make money, too.
Q - How do I make money as an investors?
A - As an investor, you will make money like you would on other investments. Due to the varied nature of the entrepreneurs who apply to this program, your investment can take the form of equity, a business loan, a personal loan, a profit based loan, a royalty deal or any other creative arrangements. Our incentive as coaches and organizers of the program is to help both yourselves as investors and the entrepreneurs to enter deals that benefit you both. You will be able to make whatever offer you see fit. You are never in any obligation to make an investment.
Q - What fee does HiR Transcender take?
A - For the first year there will be no fees on investments under $200,000. Above that, there will be a 2% commission. After the first year, the commission will be 2% on all investments. Participants pay a $6,000 flat fee for the one year coaching program plus a week retreat in Costa Rica and introductions to investors, influencers and service providers who want to work with queer entrepreneurs.
Q - How are the entrepreneurs vetted / filtered?
A - Before investors see pitches, entrepreneurs will go through 5 filters. They first fill a short application available to everyone on the website. Applications that show potential are first interviewed by Nadia McCullough, transgender woman and co-founder of HiR Transcenders. This first interview is to assess their ability to share their stories, talk about their business and create interest. Successful interviews fill in a detailed form that goes through a wide overview of their business, traction, projections, investment needs and strategic plans. Applicants also record a video about their experience as gender non-conforming entrepreneurs to assess their ability to connect with an audience. Successful applicants will go through a series of strategic and pitch coaching conversations with Noam Kostucki, non-binary cis-man and founder of HiR Transcenders. When applicants have answers to all basic questions required by investors and a good pitch, they are presented to investors. Every investor can make an offer, and investors can also make joint offers. After making the offers, investors complete their due diligence before signing off a contract with the entrepreneurs.
Q - What size investment is needed and what kind of businesses are they?
A - From the first round of applications, the investment entrepreneurs are looking for are:
$1k - $10k (12%)
$11k - $50k (19%)
$51k - $100k (25%)
$101k - $200k (25%)
over $200k (19%)
Industries so far include tech, health, real estate, beauty and health, fashion, arts and cannabis industries. All businesses are consider as long as they are legal, provide a value to society and have the potential to create a real return for investors. Some businesses already have traction and sales, others are at seed level.