FREQUENTLY ASKED QUESTIONS
WHAT IS THE SELECTION PROCESS?
EXTENDED DEADLINE BECAUSE OF HIGH DEMAND!
PHASE I: Online submissions will now be open until June 15th, 2020. Visit this link to apply.
PHASE II: First round selection of 20 companies for pitch video interviews. These short interviews will take place from June 16th to June 22nd, 2020.
PHASE III: 10 companies are then selected for more in depth interviews. These will take place from June 23rd to 29th, 2020.
PHASE IV: 5 companies are selected to present their company in the final round. This will take place on July 1st and 2nd, 2020.
PHASE V: The teams at Wick & Mortar and Chapter 2 will vote on (and select) three companies to remake and relaunch. We will announce the 3 participants on July 6th.
WHAT IS THE BREAKDOWN OF THE DEAL AND SERVICES? HOW WILL THIS WORK?
Services from all our partners and sponsors will be provided in kind for the 1st year.
Both Wick & Mortar and Chapter 2 will work with the selected companies just like any traditionally engaged client (i.e provide scope for services, staff appropriate team, prodive strategy, execute against strategy. etc)
Approval processes will remain the same as with traditional clients; the founder/team will ultimately make final decisions.
After the first year, if the company would like to continue working with Wick & Mortar and Chapter 2, they will enter into and negotiate additional phases / scopes of work.
WHAT STAGE COMPANIES ARE YOU LOOKING FOR? ARE YOU SETTING PARAMETERS?
We are flexible, but generally speaking we are looking for companies that have had a significant disruption to their business due to the economic downturn around coronavirus or are in pre-launch and have not yet raised a fund round. They may have raised a note (friends and family), and done some product development, etc., but still pre-seed and pre-launch.
WILL YOU INTRODUCE FOUNDERS TO VCS DIRECTLY?
Of course. We will use our combined networks to help our brands get off the ground and scale, including introductions to VCs and other investors from around the world.
ARE YOU INVESTING IN ONLY DIRECT-TO-CONSUMER BRANDS OR MORE BROADLY CONSUMER GOODS/SERVICES?
No. While we have strong backgrounds in consumer and DTC cannabis and fashion
brands specifically, we’re interested in lots of different categories across all our industry.
WILL YOU INVEST IN ANYTHING OUTSIDE OF CONSUMER?
Any nonpublic information provided hereunder is confidential, and High Grade Hope will not disclose the information to third parties except for its professional advisors as strictly necessary; and will not use the information except as necessary to evaluate whether to perform services for or invest in the equity of the Company. High Grade Hope will restrict the distribution of the information within its company to those of its employees and representatives who have a need to know.
The foregoing is intended solely as a basis for further discussions and is not intended to be and does not constitute a legally binding offer, obligation or commitment on the part of High Grade Hope to perform services for or make an investment in the Company. No agreement relating to a business relationship between the parties, or any services or investment, shall arise unless and until a definitive written agreement relating to such business relationship is negotiated, executed and delivered by the parties. The disclosure of information herein or the entering into discussions or a business relationship between the parties shall not prevent High Grade Hope or any of its affiliates from evaluating a possible investment in and/or collaboration with, or entering into any transaction with, a company whose business is similar to or competitive with the business or proposed business of the Company or its affiliates.