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One way to suck less is to raise angel money after you've made some progress, such as demonstrating some technology viability, some market traction, or at least
by samaparicio 16y ago
One way to suck less is to raise angel money after you've made some progress, such as demonstrating some technology viability, some market traction, or at least commitments from other people to join you if you get funded.
- petewarden 16y agoDefinitely. At the end of the day, the best way to get any kind of funding is to make people worry that they're missing the boat heading towards a ton of money. Demonstrating real customers, and everything else that falls under 'traction' and 'momentum' is the way to achieve that. If I had to do it again, I'd completely forget about the money-raising and spend the three months focused on the product, and worry about everything else much later. That's not a great fit for the Techstars program, though some of the most interesting companies to come out of it have ended up boot-strapping, eg Occipital/Red Laser.
- RobertL 16y agoThe problem with Angel funding is that once you do all the required things like "demonstrate technological viability, show some market traction, and get a few commitments" then you are worth a whole heck of a lot more than you can ever get from the so called Angels so "Why Bother?".