How to write the best Magma Memo
30% of our investments come 100% cold from the Magma Memo, our 100% online service to share your business with us.
- Don’t spend more than 10-15 minutes on your Magma Memo.
- Write directly, clearly and concisely.
- You can write in Spanish or English.
- Write as if you’re speaking.
- Don’t use jargon or fancy words
Examples of successful Magma Memos
We had never met any of these startups in person before we invested. In Albo’s case, we didn’t meet in person for at least 2 years after we first invested.
A step by step guide to creating your Magma Memo
Tell us About Your Startup
- Short Description - One sentence description of your company
- Website https://www.yourwebsite.com
- City where the company is based
- Entrepreneur First Name
- Entrepreneur Last Name
- Founding Date
- Idea Stage - select this option if you don’t have a product yet, but know the problem you’re solving and what an early version of your solution would look like
- MVP - select this option if you have already built an early prototype of your solution
- Growth - select this option if you’ve already launched your product, have traction and is steadily growing
Did someone tell you to apply to Magma?
Tell us if someone referred you to Magma. If nobody did, don’t worry about it!
Have you applied to: (optional)
- Start-Up Chile
When was the last time you applied to an accelerator? Which one? And what happened?
If you’ve applied to acceleration programs let us know what was the outcome or what’s the status. This won’t affect your prospects in the evaluation process with us.
Have you founded a company previously? What happened?
We’re looking to understand your background. We don’t care if your previous business failed, or even if it wasn’t in technology. Give us a few sentences here. If this is your first company, that’s totally fine too.
Why did you pick this business, rather than another idea? Or working for a company?
We want to understand your motivation for starting your business, and whether you have founder-market fit. Why are you the best person to be solving this problem?
What problem are you solving?
Tell us about the problem you’re solving, and it’s size and scope.
Tell us about your traction.
Tell us what you’ve done so far and how the market is reacting. It can be revenue, what you’ve built, letters of intent. Show us the work you’ve done so far.
Why are you the best team to solve this problem? How did you meet? Why will you win?
We are looking for founder market fit, and understanding your team dynamics.
How do you make money? (What is your business model)
Be straightforward, how does your business make money or plans to make money. If you have different revenue streams please list them.
What markets are you currently serving?
Add the countries you are currently operating in.
Monthly Revenue (USD)
Add your company’s current monthly revenue.
Monthly Expenses (USD)
Add your company’s current monthly expenses.
Investment Seeking (USD)
How much money are you currently fundraising?
Previous Investment (USD)
How much money have you raised to date?
Cap Table: Names, LinkedIn and % ownership entrepreneurs and investors
We want to understand who owns what % of the company and how they got it. Are they founders? Did they invest? How much did they invest? At what valuation?
Do you want to tell us anything else?
This section gives you a chance to tell us anything we didn’t ask that you think is important.