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6% for £12.5k isn't going to be enticing enough for what they're offering. 6% if you're YCombinator is one thing, there's track record, location, address book,
by buro9 15y ago
6% for £12.5k isn't going to be enticing enough for what they're offering.
6% if you're YCombinator is one thing, there's track record, location, address book, mentors, who you get to pitch to, etc... and you can easily come to the conclusion that you've had value-for-equity.
But I read BGV's site carefully as I would consider my startup to be exactly what they are looking for, and I meet all of their requirements (we're even London based), but... I couldn't find on their site the value to my startup, and how the 6% translated into anything of substance to me.
If it's not the people (experienced, with contacts, track record, etc), then I'm looking at the money, and the money isn't enough to justify the equity given the weakness of the rest of the offering.
It feels like someone has tried to emulate YC without understand what the value of YC is.
- citricsquid 15y agoI think you make a great point. People like Justin Kan going back through the YC process with a new startup (when the funding isn't a concern) just shows how much the people of YC and the YC brand matter, the money is only a part of it. Although YC didn't start in this position, the brand has built up over many years and I don't think the lack of people at the start will cause problems for BGV, but it will give them a hard time when being compared to the likes of YC.
- rellimluap 15y agoWell we had to start somewhere. I'm pretty sure I understand the value of YC - I know quite a few people who've been through the programme and I've visited the space and met with Harj who taught me a lot. We're different though and I think different startups are looking for different things. If you have time, I'd certainly be up for meeting to see if there is a fit. My email is on the site.
- AkThhhpppt 15y agoThis is a Young Foundation initiative, who started the Open University, Which? Magazine, the National Consumer Council... They're dipping their toe into the IT space for the first time, but they've been doing social innovation acceleration in other ways for decades.