This Code of Conduct provides guidelines for all attendees at SICTIC events (including investors, speakers, guests, partners, hosts, staff and other attendees) and for startup representatives pitching at a SICTIC event. It intends to facilitate trusting relationships, a comfortable event experience, and long-term partnerships. If you notice any violation of this code, directly approach the person in breach and if that is not possible or you can’t resolve it with that person, please immediately reach out to any of our vice presidents or the president or the staff member in charge of organizing the event.
Fair & Responsive
We conduct business in a fair and honest way in all dealings and in particular with startup founders looking for funding from investors. Investors and founders are expected to be responsive when reached out to and to answer requests without undue delay. For longer absences during a funding round and as a shareholder or founder, always proactively inform others involved.
Collaboration
We win together and treat others the way we like to be treated. Our behaviour serves to build trust among investors involved and with the entrepreneurs. The journey is long and a positive-sum game. Experienced investors and novice investors support each other to the extent of their possibilities. All investors engaging in due diligence actively support it.
Partnership
We act as partners of the entrepreneurs and co-investors, supporting them to build great businesses. We seek alignment of interest among all parties involved in the investment process.
Transparency
During due diligence and thereafter, we communicate transparently with all interested investors. Key points (key terms, timing, concerns, lead investor name) are communicated to all simultaneously and in the same manner. For simplicity and fairness, no individual side deals or subgroup deals at different terms are to be made without the consent of all involved.
Speed
To use our time efficiently, goodwill and energy of the investors and entrepreneurs, and for SICTIC credibility, investors commit to doing all they can so investment decisions are reached in a reasonable amount of time.
Lead Investor
For each investment opportunity with more than one investor interested, a lead investor is designated by the investors themselves. Whether remunerated or not, the lead investor’s responsibilities include:
– To act as the primary contact between interested investors and startup founders;
– Coordinate the feedback of interested investors (e.g. due diligence, questions, investment terms) in a consolidated way to the startup founders and vice versa;
– Upfront information to other investors if (s)he intends to be remunerated for due diligence efforts directly or indirectly
Non-Solicitation
Investors must disclose all fees charged to investors and founders prior to any contract taking effect. This includes registration fees, success fees, consulting fees and fees for other services provided by the Investor. The contract must specify any payable fees. Solicitation of paid services to founders and investors at SICTIC events and during the due diligence process with startup founders is strictly forbidden unless SICTIC has a partnership that explicitly allows for offering services at events, to our investor community or to startup founders (e.g. keynote speakers, event hosts, service partners, annual partners). Infringement leads to immediate SICTIC membership cancellation and exclusion from SICTIC events.
Confidentiality
We will use the circulated information solely for the purpose of raising finance and not to exploit it in any other way. We will take all reasonable precaution to keep information confidential according to the signed Agreement between SICTIC and the investor.
Ethics
Investors and startups will not accept subscribed investment capital from unspecified sources.