I am a progressive HR practitioner and founder of HumInt Labs, a human capital management consultancy. I saw an opportunity to build the next Bloomberg Terminal but for human capital data to enable investors, boards, execs and HR to better diagnose, triage, value and invest in companies and workforces according to the health of their human capital, as an alternative to financial capital. It’s my vision, product designs, domain expertise, patent, prototype in development, business plan, investor relations, business/finance/HR acumen, 20+ yrs operator experience, etc. I am in search of a technical cofounder interested in equity only (until successful fundraise). Equity Split (Estimate) - Business Cofounder 30+% - Technical Cofounder 10+% - Early Employees (pool) 20% - Investors 30% - Advisors <10% Where do I find a technical cofounder who will work in exchange for equity? Are there communities or platforms for sourcing such talent?
Try starting with total comp
What do you suggest?
I get people coming to me with ideas and they want a technical cofounder to build it. I don't want to build some product guy's dream app. Maybe work with an engineer you know to come up with an idea together.
If the technical co-founder is building the entire product, what are you bringing to the table. Not being snarky, provide that details here so folks know what they are getting into? Without that you just seem whiny. Source: I co-founded two companies, with 1 successful exit.
Thanks for the genuine feedback. I updated my post with my contribution and equity split.
There’s 0 chance a Technical co-founder who is half decent is coming for 1/10th the company (and 1/3rd of your equity) unless you have a proven track record of successful exits. What you can do is reserve a pool of equity, with reserved equity based on hitting milestones (business milestones for the non-tech cofounder and technical milestones for a tech co-founder).
Thanks for the genuine feedback. I updated my post with my contribution and equity split.
It’s definitely possible. Try r/cofounders for one. Also, make sure you’re not just an “idea guy”. If all you’re looking for is free labor, expect to find really bad quality people, if anyone at all. Or you can try and swindle someone in your network, but just know you may seriously damage that relationship if you choose to go that route.
Thanks for your genuine feedback. I updated my post with my contribution. Not just an “idea guy”. What is “r/counders”? Duh me, Reddit. Got it. Thanks much.
Ok I read through and this is what I’ve gathered, feel free to correct me on any points: You are someone who has worked in business for over 20 years. It sounds like this is the first company you’ve founded (as you didn’t mention any others.) You are currently working on the prototype for a product that is essentially “a Bloomberg terminal for xyz market.” You are seeking a 75/25 split of the founders equity with your technical cofounder (30/10 of whole company == 75/25 of founders share.) So my take on this is that you will likely need to show more traction to get someone with technical chops. The hardest part for a startup is finding product-market fit so you should generate as many metrics as possible that prove you have found it (or that the payout will be big if the cofounder helps you find it.) If you don’t have product-market fit, or potential investors already in the pipeline, or even the full working prototype yet, then what you’re asking for is a technical person who can help build that prototype for free, for 1/3 the equity that you will get. That’s a tough sale imo. Best options as far as I can tell is if you are concerned with keeping the most equity possible, then you’ll have to hire cheap to build out that prototype. Think overseas contractors, fiverr, college students, etc. Then use that prototype to generate the appropriate metrics and get solid funding, then a solid cofounder. Or the cofounder can come first, then the funding. Point is that the product-market fit will allow you the leverage to command such a high equity retention for yourself. Your other option is to up the equity and even throw in some cash. This is all just my take though, you may have an easier time, but just be prepared for a difficult journey. Best of luck!
HumInt? Bad name for company https://en.m.wikipedia.org/wiki/Human_intelligence_(intelligence_gathering)
I’ll take that under advisement.
Try angel.co
Dm me