Venture capital, anyone got some advice?

[ratewhore]

You could qualify for funding dependent on area and local employment. Have a look at www.businesslink.gov.uk for funding information. Other than that, I hear business angels are not a bad source of investment compared to VC's.

Also, you may want to consider dropping your day job to 4 days a week to work on plan B dependent on your risk/reward perspective...

[BoredBloke]

I managed to secure £100k of venture capital investment in my folks company just by writing a good business plan. The investors eventually sold their 35% stake to my folks for £2 when it was obvious a number of years later that they were rubbish at all of this business malarky. So effectively I managed to get them a gift of £99,998 and I got exactly Jack Sh1t of them for it - even though I had to take a few days off work and fly to Ireland over the Christmas break. i.e. not cheap!

[chef]

from what you've said and assuming im watching someone on something like dragon's den (i.e people looking for a VC to invest):

-you have a great idea but it needs 3 people/1 yr to complete
-you have funds yourself but you dont want to risk them
-you dont want to give away a significant portion of your co. in return for capital
-you believe it could significantly earn results (i.e make money) when complete


if i was a VC i'd question why you dont want to take the risk yourself and naturally assume its high risk, therefore an increased stake, which you dont want to give

as an alternative:
do you have 3 years funds?
if the answer is yes, at the end of this contract, begin work on plan b and spend 3 yrs coding, if it comes off your laughing as you have given away nothing of your co. , if it doesnt then go back to plan a..

alternatively you have to face the fact that any VC given the info you just have mentioned that they will want a large % in return for the risk of returns..

blunt i know, but thats an outsiders perspective

[seebol_star]

mate.. you can get loads of independant techi's online to bid for work you post if you want it done quicker...
I suppose if you really want to go for it save up as much as possible and then after your contract ..focus on it full time.. and maybe try and get a good vc involved... james caan has a decent company with good rep?!..
gudluck!!!!