StartupMotor Thursday, March 17 at 7:00 PM
Most investment pitches start with this…
We need a CTO – £25k for a year. And a CMO/CSO – 25k for a year. And me – £25k for a year. Oh and £25k to make the product.
What if you could reach revenue in 6 months. And with only your wage to cover? That brings investment down to £10-20k – well within the reach of a loan. Just think -no giving away shares of all the future profits. It can be done.
There is also a raising of the bar from VCs and Angels. They are expecting a fully fledged product and proof of traction before they will lend. It seems more and more that £5k or more needs to go into creating an MVP before going to the seed funding stage.
I'm hoping to attract a speaker from Virgin, Startup Direct or one of the other specialists in this area to come and talk with us. Watch this space.