Fellow techies. I have hardest time understanding how people find investors for a startup. I'm talking ground zero investments. I don't live in Silicon Valley and no one I know seems to have connections. Any advice for someone just starting out? Can't borrow money from family because I grew up in a community where everyone, but me is in debt. My POC was successful, but need an investment to grow the business with some pace. Should I try to join an incubator? Thanks in advance for the advice.
Do you attend meetups or whatnot? Someone in your circle must know someone who knows someone But incubators work 👆
Try to get some customers to prepay. Hard but the cheapest money you'll ever find
I like that idea @duckingbay. Maybe I can get them to split the cost. I just feel guilty asking for money from them up front, but the worst they can say is no. 😇
It's not "split the cost" It's prepaying for a license and influence in the roadmap
How much do you need? If it’s less than $1M, generally it’s: 1) Friends & family round (it’s called that but doesn’t mean you have to know everyone. Ask people to ask the 3 richest people they know). 2) Angel investors. 3) Loans: SBA, banks, local organizations. If all above fail, apply to an incubator (but be weary, they take a good % for not a lot of funding). DM me if you are actually ready to ask for $. I’m an investor.
Thank you @ChillyBean. I'll follow up with you. I appreciate the friendly mentorship.
Ground zero investments are hard unless you have pedigree in which case you know people or know people that know people. Accelerator is your best bet.