3 ms·
Again way too many barriers to entry. I just need $100k to prove my idea. These funds have billions. They won’t lend 100k because it has a prototype app, a hand
by o-__-o 7y ago
Again way too many barriers to entry. I just need $100k to prove my idea. These funds have billions. They won’t lend 100k because it has a prototype app, a handful of interest, but no investor pitch? But they will give $1m to someone who can pitch a dream with no product?
Please come to me with $100k and I’ll offer you simply a guaranteed 0% return (no loss on investment) so I can pad my bank account and make “real” investors interested because it makes us look like we can manage our money.
It’s all smoke and mirrors and I wish I could get access to the same cheap money big corps get. $300k at 6, 7, or 10% interest is just robbery when public companies and home owners are walking away with 2-3% APRs
- charlesdm 7y agoLol dude, "just" $100k. Barriers to entry? Totally honest: I'm an investor and I wouldn't invest $100k in you with a mentality like that. We're all in this to make money. What you need is to prove your idea. No one is going to put $100k (or $100 million for that matter) in an untested idea, unless you have a relationship with an investor. And investing is a relationship business. If a friend whom I trust and I know is a talented chef comes to me with a restaurant idea, I'll consider investing. If a random person comes to me, there is <10% chance (unless his food is absolutely amazing in every regard) that I will consider investing. I'm happy to invest in a good tech business. But most things that I see just aren't great businesses. You're likely in the US, but many EU countries have investment entities (generally funded by EU funds) that "give out" loans at 3% APR. If you want it, you can get it done. But there are very few barriers to entry. A good idea in need of funding will find funding.
- shifto 7y agoMight be a bit late but do you have some more info on these EU funds? I'm just a very technical guy but somewhere on the horizon there will be a point where our proto is matured enough we probably should seek some funding if we want to do something with it. Thanks.
- charlesdm 7y agoI'm not up to date on the particulars for each country, but where are you based? Happy to help if I can.
- shifto 7y agoI'm based in the Netherlands. After my post I went searching and found we have a "early phase funding" from the government. https://www.rvo.nl/subsidies-regelingen/vroegefasefinanciering-vff https://www.rvo.nl/subsidies-regelingen/vroegefasefinancieri...
- o-__-o 7y agoI have ideas, i have executed on them and I’m up 500k in pure profit. But investors like you are hard to find. But investors wanting to pay $5m to start a mechanics for Uber app when there are several in the market? Everywhere. So my options are simply do something I don’t want to do to get investors (read: become an employee again), get an SBA Loan at 9%, bank loan at 6% or remortgage my house at 2%. I shouldn’t risk homelessness for cheap money and neither should investors buy let’s get real — $100k is a monthly rounding error for them