Withdraw periodically

Very true as always Aunty B, but I might suggest looking at a middle ground.

Why not negotiate a flexible agreement with your funding providers to access the full amount you’ll require (which will certainly not be enough, as the Oracle quite rightly points out), but only by drawing it down in periodic tranches as you need and can justify it?

This will allow you to access the funds as you need them (and only then), but will also trigger regular discussions – hopefully tough ones – with your funders to make sure you’re really on track.

It should also trigger some fairly painful squeezes towards the ends of your funding periods – when the money runs out.

In the unlikely event that you don’t need all the money, you might come out in a more beneficial equity position. But most importantly, this will avoid you having excess money in the bank.

There is nothing like being broke, for cost control, and if you have it you will inevitably spend it.