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Thank you, we also thought of accelerators as a plausible option. Part of the reason I asked the question though, is that I am curious how others are able to ge

Thank you, we also thought of accelerators as a plausible option. Part of the reason I asked the question though, is that I am curious how others are able to get from just an idea to VC funding. It sounds simple: build a great product, and get enough traction. But actually doing it, even if we believe in the product, seems to take a lot of time. Are we missing anything that other founders do? Or are the suggestions you posted what everyone else does?

martinald 7y ago
Many of these people have a past track record which helps hugely, and/or connections with investors. For example, people which have worked in finance often have many coworkers and other contacts who are high net worth which will be willing to write a cheque on the basis of their personal relationship. I wouldn't underestimate this factor when looking at other investment deals.
dkarras 7y ago
It is usually about coming up with an idea that addresses a burning need. Getting enough traction becomes quicker that way and provides you with the necessary runway. So instead of getting "wow" as a response when you showcase, it becomes more like "we need this yesterday, when can we talk?"
- oliverx0 7y ago
  Thanks, thats a great way of putting it. Will try to aim for this more, and iterate until we get to this.
  - dkarras 7y ago
    I mean it all depends on your runway. If you are young with very little responsibilities and can run on noodles, with some savings you can extend your runway and can chase more difficult to sell ideas. But if you have very limited time (cash to survive) then you better come up with something good because it needs to sell quick.
thinkindie 7y ago
depending where you live there might be some local institutions giving out some cash either as a grant or as a loan with very good conditions (a combination of no collaterals, low interest rate, no equity and so on). That could be an option to stretch your runaway further and avoid being constantly worried about that.

martinald 7y ago

Many of these people have a past track record which helps hugely, and/or connections with investors. For example, people which have worked in finance often have many coworkers and other contacts who are high net worth which will be willing to write a cheque on the basis of their personal relationship. I wouldn't underestimate this factor when looking at other investment deals.

dkarras 7y ago

It is usually about coming up with an idea that addresses a burning need. Getting enough traction becomes quicker that way and provides you with the necessary runway. So instead of getting "wow" as a response when you showcase, it becomes more like "we need this yesterday, when can we talk?"

oliverx0 7y ago
Thanks, thats a great way of putting it. Will try to aim for this more, and iterate until we get to this.
- dkarras 7y ago
  I mean it all depends on your runway. If you are young with very little responsibilities and can run on noodles, with some savings you can extend your runway and can chase more difficult to sell ideas. But if you have very limited time (cash to survive) then you better come up with something good because it needs to sell quick.

thinkindie 7y ago

depending where you live there might be some local institutions giving out some cash either as a grant or as a loan with very good conditions (a combination of no collaterals, low interest rate, no equity and so on). That could be an option to stretch your runaway further and avoid being constantly worried about that.