In the startup world, fundraising is often portrayed as a fast-paced game of pitching – a charismatic founder, a sleek deck, and a compelling story. Many believe that a good narrative and strong delivery are enough to land an investment. But the reality of fundraising is far from a TV show. It’s the opposite: a long, structured journey that demands understanding, planning, and above all – maturity.

 

Startups entering the venture capital world for the first time often have an idealized vision of how things will unfold. That’s why the Fundraising Bootcamp, organized by the Slovene Enterprise Fund as part of the Razvojni Plus program, kicks off by busting myths and laying a solid foundation for what the fundraising process really looks like. Under the guidance of experienced entrepreneur and investor Francois Mazoudier, startups face one of the most valuable – and often toughest – lessons:

“Fundraising has nothing to do with pitching. It’s a structured process with clear goals, steps, and timelines.” – Francois Mazoudier

This year, eight promising Slovenian startups took part in the bootcamp: Humanodoro, Voltpoint, Explast, Solved, AionEye, Skill2Grow, Samokat and Cluekit.

 

Fundraising is not a show – it’s a process rooted in knowledge, planning, and trust

One of the first “aha” moments for participants is realizing that a good pitch alone won’t get you very far. Most come in thinking a killer deck, some charisma, and an emotional hook will do the trick. But as Francois emphasizes, this belief – often shaped by startup TV shows and questionable online advice – is a dangerous illusion.

 

The true foundation of successful fundraising rests on three pillars:

• Process – a carefully planned sequence of steps with clear deadlines, from identifying the right investors to structured communication and closing the deal

• Knowledge – understanding how investors think, what they expect, when they invest, and how they evaluate opportunities

• Relationships – building trust through repeated conversations, aligned values, and shared goals

 

Raising capital isn’t a performance – it’s a strategic process where you need to prove to an investor that you know what you’re doing, and why you’re worth their time and trust. As Matej Gutman from AionEye puts it:

“It wasn’t until the Bootcamp that I truly understood what a pitch is. It’s not about impressing with a story or an idea. It’s about showing you have a plan, that you know your numbers, that you understand the investor. It’s not a performance – it’s a strategic process where trust is everything.”

Matej Gutman, AionEye

Why do startups most often fail when seeking investment

A full 90% of startups fail to raise investment because they keep making the same mistakes: they lack a proper process, they run out of time, and they don’t understand how investors think.

“Many think a pitch deck and an Excel sheet will be enough. Terrible idea. Without structure and an understanding of the other side—like what 2 and 20 means or how funds actually work—you have no chance.” – Francois Mazoudier

Francois Mazoudier

Investors also quickly sense when a startup is burning out—running out of time or money. And investing in panic is never a smart decision. That’s why at Fundraising Bootcamp, startups gain practical knowledge on how to structure their process—and why it's critical to start early.

"It’s never too early. In fact, it can be too late. Once you see how much time it really takes, you understand why you have to start early."  – Matej Gutman, AionEye

What separates an exceptional startup from an average one

Francois brez olepševanja pove, da »umetnost investiranja« v resnici temelji na zelo jasnih kriterijih. Najboljši startupi imajo skupne značilnosti:

• They target a large market – because it’s easier to win 2% of a huge market than 100% of a niche

• They tackle a real problem with a solution that actually works

• They have defensibility – something the competition can’t easily copy

"Startups often waste time on unimportant extras. If you want real growth, you need to solve real problems in large markets—not build features that a tech giant could wipe out with a single button." – Francois Mazoudier

Not everyone with money is the right investo

One of the biggest takeaways from the program is that not every investor is the right one. Fundraising isn’t just about collecting money—it’s about building a long-term partnership that can last a decade or more. That’s why at Bootcamp, startups also learn how to judge who deserves their decisive “yes” and who deserves a “no.”

 

Francois Mazoudier

"Before the Fundraising Bootcamp, I thought the investor had the power because they had the money. Today I know they need me too, because we’re investing in each other." – Matevž Javornik, Solved

Choosing based on “whoever offers first” is one of the biggest mistakes. Francois teaches startups how to generate multiple offers at once, so they make decisions from a position of strength—not desperation.

 

If you want 3 good offers, you need to select 77 right-fit investor

To get three serious offers, you need—on average—77 investors who are a perfect match for your profile. This is not a random number, but a statistically supported insight (DocSend, 2023). And it means fundraising must be managed like a project, not run like a campaign.

"The biggest shift for me was realizing that this isn’t about looking for money. It’s about selling a share of your company—and you decide who you’ll offer it to. This is a partnership. And that’s why you need a plan." – Matevž Javornik, Solved

With a clear structure, timeline, and plan, fundraising becomes more predictable, less stressful, and—most importantly—more successful.

 

And what about artificial intelligence (AI)? Will AI replace investors

Artificial intelligence is transforming everything—including the startup world. But can it also change the way we raise investment?

 

Francois Mazoudier answers and points out something AI (still) can’t do. 🎥 Watch the video below.

 

Fundraising Bootcamp – the week that changes everything

Fundraising Bootcamp is not just another startup workshop. It’s a week that shows startups, without sugarcoating, what fundraising really is and how challenging the path to the right investment can be. Participants often describe the program as unexpectedly honest, extremely intense, and above all – a practical experience that prepares them for something no one usually talks about openly.

 

Fundraising Bootcamp 2025 participants

“I definitely didn’t expect brutal honesty and insider information about the process. I thought we’d talk about theory. But it was insanely practical. You won’t find this in books, 100% not.”– Matej Gutman, IonEye

“Fundraising Bootcamp opened my eyes. Before that, I thought I knew enough – now I know how little I actually knew.” – Nejc Oset, Explast

Nejc Oset, Solved

And what do participants say about the mentor who “shifted their mindset”?

Francois Mazoudier is for many the main reason why the Bootcamp is not just theory but a transformation. His approach is honest, direct, and uncompromising – exactly what startups value most.

 

Watch the video testimonials from participants about how he taught them to think like investors in just one week and showed them what serious preparation means.

 

Francois himself believes in the potential of Slovenian startups and sees their rapid growth in maturity:

“Slovenian startups think globally today – and that is the key shift. They have the knowledge and potential. They just need the right structure. And that can be learned.” – Francois Mazoudier

If you are serious about raising investment, you truly have to understand the process.

This program is not for those looking for shortcuts. It’s for teams who want to build a serious company, with the right people, at the right time, and with the right capital.

 

“In the end, you’re not looking for money. You’re looking for trust. And if you don’t know how to manage the process, no one will trust you.”– Francois Mazoudier

 

more about the Fundraising Bootcamp

 

The RazvojniPlus (DevelopmentPlus) program offers highly specialized content support to innovative startups and SMEs on their path to faster, global, and sustainable growth. It provides participants with expert consulting, targeted training, study visits, networking, matchmaking, and promotional-educational events. The program strengthens key competencies of companies, increases their competitiveness, and effectively connects them with investors, partners, and foreign markets. It is intended for companies that are current recipients of the P2 incentive or have an active SK or SI-SK contract with the Fund, as well as companies registered in the Register of Innovative Startups and other innovative SMEs, including fast-growing companies (scale-ups).The program is implemented by the Slovene Enterprise Fund in collaboration with leading public and private providers within the entrepreneurial ecosystem. It is co-financed by the Republic of Slovenia and the European Union through the European Regional Development Fund.

 

more information

 

 

 

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The program is co-financed by the Republic of Slovenia and the European Union, specifically from the European Regional Development Fund. It is implemented based on the program ‘Substantive support for faster global and sustainable growth of innovative SMEs (DevelopmentPlus Program)’ within the framework of the Slovenia’s EU Cohesion Policy Programme 2021-2027.