Raising Finance??

Raising Finance

A site I frequent offers to raise gap funding up to £500,000 - and are apparently very good at it:-


www.insensiacapital.com

Naivity ?

I'm sure, there are supposed good drawings
Because project for 100K is really large.
6000 man hours - is good base for interesting work. Don't forget, guys, that Russian developers are really smart and very creative. They can do their work much faster. They can save tasty piece of budget.

Usually resellrs (or middlemen) who work with Russian Developers get up to 10 percent of project cost. And all three sides are happy

Re: thanks!

take a look at www.beerandpartners.com - stable of business angels

Re: thanks!

<!--EZCODE BOLD START--> hopefully this is a sign of confidence<!--EZCODE BOLD END-->

Naivity or stupidity. Should put realistic drawings for yourself. Do you usually work for free?

I wouldn't agree

As a person working in Russian offshore software development company I wouldn't agree with some points.

If you mention developers' salaries as 200-1000$ per month, you have some risks you may lose sight of, or guys in your dev. facility didn't count them.
Usually projects are estimated on rate per hour base. And monthly salary is not good measure to count a budget.
Upper border 1000$ is closer to real salary than 200$. Developers' salary hardly ever can be less than 500$. Otherwise you will get really 'cheap' quality

Our developers have salaries about 700-2000$
University graduated professionals should get good ones.

But project with budget of 100K is considered as big project, even if it requires some research.

Yours, Igor.


From Siberia with Love.

Re: thanks!

We had a torrid time getting bounced around VCs over the last year. Looking at Small Firms Loan Guarantee scheme now (UK only???) Check the DTI web site for more info.

Just taken on a real spitfire pilot sales guy, he starts Monday and reckons I'm going to be paying him £100k this year (advertising sales). If he does half his numbers we won't need the funding, makes you think a bit about viability doesn't it!

I spent two years at an ecommerce company - South East based, procurement software, burnt many millions. Fun ride though. Ecommerce has got to be THE biggest thing some-time, good luck with it.

Re: thanks!

I think that it is difficult to get venture capital for a new idea at the moment. They are looking for something which already has some income.

thanks!

thanks for the response guys, I'm following it up.

Yes, 100K isn't a great deal, but resources are cheap in Russia, and I don't intend to draw anything for myself - hopefully this is a sign of confidence!

I believe that there are some Angel Investors who are associates within the institute of Independent Business (IIB). Providing there is a good business plan to go with the proposition you may find some interest there.

Association of British Venture Capital people put out a good book listing the VC's operating in the UK, with areas of interest etc, ring them and you will get it within a couple of days, there are also a couple of business angel fora which might be worth looking at, problem is you might not want 1 or 2 individuals to have too much say.I know some people who dabble...

£100K isnt much though - are you sure you are allowing enough to get through to profits ?


www.bvca.co.uk
0207 240 3846

I have a good e-commerce idea, substantial e-commerce management and technical experience for major consultancies (I have a good verifiable background history), and am about to put together a business plan looking (I currently estimate) for around 100K in funding, with a possibility of returning serious revenue streams.

Banks are sh*t scared of "risking" equity on anything .com related (or even software related) - anybody know any private backers that may be interested - or advice of where I can look for funding?

I intend to resource this project from Russia (I have experience in Moscow) - as I can keep resource rates down to $200-1000 a month per-person.

Putting the plan/forecasts together now - any advice appreciated.

Ed