The Renewal Venture — Camille's Bridge Round at Reviva SAS

A four-round, intermediate entrepreneurship simulation set inside Reviva SAS, a two-year-old circular-economy venture in Grenoble, France that collects, refurbishes and resells small household appliances under a two-year 'renewal' promise. Founder Camille Brun spun Reviva out of a regional appliance maker that declined to scale her intrapreneurial pilot; the venture employs 11 people (7 technicians, 5 of them women returning to work after career breaks), refurbished 9,200 units last year, and runs a €1.40M / 28%-contribution business that posted a €180,000 operating loss after over-investing in capacity. Trigger — 14 September 2026: with a €350,000 cash buffer covering ~5 months of €70,000/month burn, Camille has 21 days before the lead impact fund's term sheet lapses. The €900,000 seed is undersubscribed at €520,000 soft-committed; the fund will not close below €750,000, leaving a hard €230,000 gap, and it insists on ONE coherent business model from the three Reviva straddles (own-brand resale, white-label refurbishment-as-a-service, repair-subscription). Playing the founding team, you (1) diagnose the binding constraint — an unfocused model burning cash and a founder/team operating past sustainable limits — separating it from the presenting €230,000 gap; (2) commit to one model and build a financing stack to the €750,000 close, reading the cap-table and control consequences of the second investor's +€250,000 and its 'professional CEO' clause, a smaller angel bridge, a non-dilutive €150,000 BPI France innovation loan, or a burn cut; (3) redesign the operating model to remove the weekend-shift attrition driver (hire two technicians at €2,400/month, automate intake, or cap volume), choose a leadership approach (owner-operator, delegating CEO, or distributed) and set a work-life sustainability target that is actually funded; and (4) integrate everything into an investor pitch, defending mission consistency and committing to a single 12-month metric. The math rewards inclusion designed into the cost structure (not a slide), focus under scarcity, pricing control rather than just cash, funding the people who produce the margin, and budgeting sustainability — and punishes the five classic errors. Final KPIs track Model Viability, Funding Secured, Work-Life Sustainability and Team Engagement against the founder's runway and dilution.