4 ms·

Would be nice if they told those of us who didn't make it, rather than letting us figure it out by process of elimination. :| Still, some interesting looking s

by jlees 18y ago

Would be nice if they told those of us who didn't make it, rather than letting us figure it out by process of elimination. :| Still, some interesting looking startups on the list!

pclark 18y ago
yeah, totally. Interesting choices, a lot of those aren't that early, as in, they've had one round of funding...
- wheels 18y ago
  It was the same in Berlin last year, actually (probably the largest of the "minis" that year, which we were at). Several of the teams had already raised angel funding and the team that got second place had already raised a Series A round.
  - pclark 18y ago
    how did you find it? I think you guys (Directed Edge) are really onto something.
    - wheels 18y ago
      It was a good event in general; that was really early for us -- in fact a few days before we started full-time on Directed Edge. I think most of the interesting German VCs had people there and the mentoring was quite good. On the one hand I was a little put off that many of the startups there weren't really at the seed phase, but on the other hand that meant we got to be connected to them (most of whom were in Berlin) and that network of connections ended up being quite useful for us. On the other hand, even at Seedcamp proper this year (I know the folks from all of the German teams that were there and several of the other teams) it was similar. At least one, and I assume more than one, of the "winning" teams had already raised an order of magnitude more money than they got out of Seedcamp. I've also heard from multiple folks that there was something of a snafu in the way that the term sheets were handled.
      - pclark 18y ago
        I've heard equally "interesting" things about seedcamp from other sources. Curious. Did you get funding? Did seedcamp help?
        wheels 18y ago
        It helped with connections and I think that's the way to view it. Being there is definitely a win. The investment side of things is a bit shakier. The thing I'd say, if you happened to get to the final phase, is to think seriously about what terms are acceptable to you and to have a lawyer on call for the final evening that can review the terms. At this point we've not sought major investment, though we are in contact with a few VCs that have been tracking us. We pitched to one of the VCs that came to us and then realized that we weren't ready for such and how much time and effort was going to be involved in trying to raise a round. Since we weren't in a money crunch decided to put that off and continue to focus on getting our product further along before messing with investment.
- jlees 18y ago
  Aye, which seems to me not to be the point of Seedcamp, though I suppose I missed something along the line.
  - pclark 18y ago
    lowers the risk for seedcamp, I guess.
    - adw 18y ago
      It depends how big they mean by "seed", too. Y Combinator's one extreme, half-million pound investments at ten million valuations is the other - I've seen both called seed rounds...

by jlees 18y ago

Would be nice if they told those of us who didn't make it, rather than letting us figure it out by process of elimination. :| Still, some interesting looking startups on the list!

pclark 18y ago

yeah, totally. Interesting choices, a lot of those aren't that early, as in, they've had one round of funding...

wheels 18y ago
It was the same in Berlin last year, actually (probably the largest of the "minis" that year, which we were at). Several of the teams had already raised angel funding and the team that got second place had already raised a Series A round.
- pclark 18y ago
  how did you find it? I think you guys (Directed Edge) are really onto something.
  - wheels 18y ago
    It was a good event in general; that was really early for us -- in fact a few days before we started full-time on Directed Edge. I think most of the interesting German VCs had people there and the mentoring was quite good. On the one hand I was a little put off that many of the startups there weren't really at the seed phase, but on the other hand that meant we got to be connected to them (most of whom were in Berlin) and that network of connections ended up being quite useful for us. On the other hand, even at Seedcamp proper this year (I know the folks from all of the German teams that were there and several of the other teams) it was similar. At least one, and I assume more than one, of the "winning" teams had already raised an order of magnitude more money than they got out of Seedcamp. I've also heard from multiple folks that there was something of a snafu in the way that the term sheets were handled.
    - pclark 18y ago
      I've heard equally "interesting" things about seedcamp from other sources. Curious. Did you get funding? Did seedcamp help?
      - wheels 18y ago
        It helped with connections and I think that's the way to view it. Being there is definitely a win. The investment side of things is a bit shakier. The thing I'd say, if you happened to get to the final phase, is to think seriously about what terms are acceptable to you and to have a lawyer on call for the final evening that can review the terms. At this point we've not sought major investment, though we are in contact with a few VCs that have been tracking us. We pitched to one of the VCs that came to us and then realized that we weren't ready for such and how much time and effort was going to be involved in trying to raise a round. Since we weren't in a money crunch decided to put that off and continue to focus on getting our product further along before messing with investment.
jlees 18y ago
Aye, which seems to me not to be the point of Seedcamp, though I suppose I missed something along the line.
- pclark 18y ago
  lowers the risk for seedcamp, I guess.
  - adw 18y ago
    It depends how big they mean by "seed", too. Y Combinator's one extreme, half-million pound investments at ten million valuations is the other - I've seen both called seed rounds...