Imagine a startup in Florianópolis, with two founders and a piece of software that organizes fleet maintenance. They sign up for a business round expecting to meet investors, open the first conversation talking about market size and realize, within seconds, that the person on the other side is the logistics manager of a distributor who wants to know what it costs and how it works day to day. The scene is an example, but it happens. A business round can be a direct path for a startup to land its first business clients, as long as you show up ready to sell, not to raise money. Before reading on, put together a short version of your presentation in the sales pitch generator: it gives you a 60-second and a 30-second pitch plus an opening question.
Business round or funding round: which is which
The name is confusing. In the startup world, a "round" usually means a funding round: raising money from angel investors or funds in exchange for a stake in the company. A business round is something else. It is a set of short conversations, booked in advance, between companies that might buy from each other, become suppliers or partner up. Nobody is there to value your company or to buy a piece of it.
| Point | Business round | Funding round |
|---|---|---|
| Who is on the other side | Buyers, owners and managers of other companies | Angel investors and funds |
| What you are after | Clients, suppliers and partners | Money in exchange for equity |
| What the other person wants to know | Whether you solve a problem they have now | Whether the business can grow a lot |
| How you present | A spoken sales pitch, no slides | A deck with market, team and figures |
| What comes out of it | A next commercial step | Another meeting or an investment offer |
The two help each other: a paying client carries weight in a future conversation with an investor. But they are different conversations that need different words. If you walk into a business round with a fundraising speech, the buyer on the other side will not know what to do with it. The guide to the 60-second sales pitch shows, side by side, what changes between a sales pitch and an investor pitch.
When a business round makes sense for a startup
A business round works best for startups that sell to other companies and already have something to show, even if it is simple. It serves four goals:
- First clients: talking to people who have the problem your product solves, without relying only on referrals from friends.
- Validation: hearing from real buyers how they solve the problem today, how much it bothers them and who makes the purchase decision.
- Partnerships: finding companies that serve the same client you do and could offer your solution alongside theirs.
- Suppliers: finding someone to produce, integrate or deliver the part of the service your startup does not handle on its own yet.
If your startup sells straight to consumers, a business round yields less: the companies on the other side are buying for their own business. The same reasoning applies to a young entrepreneur who recently opened a service company. If their client is another company, the round opens conversations that would be hard to book on their own. To understand the format from the start, see how a business round works.
Before you sign up: CNPJ and ideal customer
The platform brings companies together, and each one is identified by its CNPJ, the Brazilian company registration number. Your company's first online business round is on us, but for that the startup needs an active CNPJ, and the benefit applies once per CNPJ. If your project is still at the idea stage, with no company registered, sort that out first. Talk to an accountant about the type of company that fits your activity and your group of founders.
The second thing is knowing who you want to talk to. Startups often say they serve "any company", and that gets in the way. In your round profile, you describe what you offer and what you are looking for, and the platform suggests conversations with people looking for what you offer, without repeating a conversation. A vague profile leads to vague conversations. Use the ideal customer profile tool to write down industry, size, region and the problem the client feels, and read the guide on how to define your ideal customer if you are still torn between two or three profiles.
What to bring to the conversation
The conversation is short and has a fixed length. Bring little, but bring what matters to the person who buys.
A sales pitch, not an investor pitch
Say what your startup does in the client's words, who it is for and what changes for the people who use it. Leave out market size, the amount you plan to raise and the expansion plan. Finish with a question about the other company, such as "do you track this in a spreadsheet today?". The question turns the conversation from a monologue into a dialogue and shows whether the problem exists there at all.
A demo that is easy to send
Have a short video or a demo link ready that shows the result your product delivers, not the sign-up screen or the settings menu. At the end of each conversation, each side marks whether there was interest, and contact details are only shared when both sides mark it. That is when the demo goes out with your first message. If the product is not finished yet, say clearly what already works and what is still being built.
A pilot offer
An established company rarely signs a long contract with someone it just met. A pilot offer, with a short timeline, a small scope and a clear success criterion, lowers the risk for the other side and gives you a real case to show later. Decide before the round what goes into that pilot, how much it costs and what happens when it ends.
Answers to the risk questions
People who buy from startups want to know whether the company will still be around, who provides support, where the data is kept and what happens if something goes wrong. Have short, truthful answers. "We are two founders and we handle support ourselves, the same day" is more convincing than a vague promise of a structure you do not have yet.
How to talk to a large company
Some rounds bring in anchor companies: large buyers that say what they need and talk to smaller suppliers. For a startup, this is a door that usually stays shut to a cold email. A few habits help you make the most of that conversation:
- Speak to the department's problem: the person in the conversation works in purchasing, operations or innovation, and each wants to hear something different. Purchasing wants lead times and terms; operations wants to know what changes in the routine.
- Ask how buying works: supplier registration, vendor approval, who signs off and how long it takes. The question shows maturity and prevents surprises.
- Be honest about your size: say how many people you are and what you can deliver. Promising capacity you do not have breaks the relationship at the first order.
- Prepare your cash flow: large companies tend to pay on long terms, and a successful pilot can become an order you have to fund until you get paid.
- Leave with a name and a step: who the next person to talk to is and what you will send them.
The article on how to sell to anchor companies at business rounds goes deeper into that conversation, and the guide on how to sell to large companies as a small business covers registration, documents and payment terms.
Open innovation programs: how they fit in
Open innovation is when a large company looks outside its walls for solutions it does not want to or cannot build on its own. Many run their own programs for this: they publish challenges from their operation, take applications from startups, pick a few for a pilot and, if the pilot works, hire the solution. Some programs include investment, but the core is the test inside the company's real operation.
These programs and business rounds complement each other. A program has a call for applications, deadlines and a selection process, and usually expects a more mature product. A business round is simpler: you sign up, talk to people looking for what you offer and agree on the next step directly with them. A good conversation at a round can lead someone at the company to recommend your startup to its program, if there is one.
To find these programs, look at the official website of the company you are interested in, under innovation, suppliers or startups. Check dates and rules in the call published by the company itself, not in a list put together by someone else.
After the conversation: from interest to pilot
The conversation at the round opens the door, but the pilot takes shape in the days that follow. Once contact details are shared, send a short message the same day or the next, with what you discussed, the demo and the pilot offer. If the person asked you to talk to another department, ask for a name and offer a summary they can forward. The guide to following up after a business meeting shows what to send and when to try again.
Where to start
Register your company and get a CNPJ, if you do not have one yet. Write your ideal customer profile, build your sales pitch and prepare a pilot offer that fits a first order. Then pick a round with companies from the industry you serve and treat every conversation as a sales conversation, not a fundraising one.
Your company's first online business round is on us: all you need is an active Brazilian CNPJ, once per CNPJ, and contact details are only shared when both sides mark interest. See the upcoming business rounds and bring your startup to conversations with companies looking for what you offer.