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Everyone I hang around with always has big ideas in their head, but a lot of times it just bounces around in there and never comes to fruition. Whether it is money, business focus, resources, or you might just be a dumb ass. Well an opportunity recently came to my attention that should not be overlooked. Neil Patel recently invested in a Venture Capital firm that is looking to give you and your genius idea up to $250k (or more) to help you get started. If you’ve ever tried to get VC funding, you know how freaking hard it is just to get anyone to listen, so this is your fast track to the inside. Here is a summary from the post:
Here is what the Founders Co-op can offer you:
1. Money – with capital you’ll be able to grow your company.
2. Expertise – unlike most venture funds, the Founders Co-op isn’t made up of finance people, instead we are all entrepreneurs. Because of this you will get advice from people like Ben Elowitz who co-founded Blue Nile and took it public. Or Andy Sack who founded three Internet startups and sold them (the first company was bought by Acxiom, the second was bought by the New York Times, and the third was bought by Microsoft).
3. Networking – meeting random people on a regular basis is easy, but meeting people that can help your business grow is hard. Through the Founders Co-op you will get to meet the right type of people.
So if you’ve got that big idea and need some direction, don’t pass up on this opportunity and apply for a big piggy bank. I would be all over it on something I’ve got in my head, but I don’t qualify (this little idea would have to be out of the US…if you get my drift).
Congrats to Neil on another successful investment. The guy is on a roll!
{ 4 comments… read them below or add one }
VC is definitely the way to go, and hopefully this will make it easier. I’ve had a few startups in the past year that I would have loved to get VC funding for so they could take off, but especially during hard economic times people are a lot less willing to give you money unless they’re positive they will get it back, which isn’t always the case with new ideas and startups.
Is it true that you need to have one of those (not-so) old fashioned business plans to get venture capital funding? My dad always tells me: “If you have a great idea, you must be able to put in in writing so that some venture capitalist will be able to see the upside to your business n black and white. I don’t know how much those guys rely on the business plans, but I’d be interested if it was mandatory.
In this case you just have to answer 25 questions and send them in. I don’t think that’s probably normal though. Having a solid business plan generally is mandatory for VC funding (although the business plan you use can be less complicated and easier to follow).
My suggestion would be to find someone knowledgeable in writing business plans and get some help if you’re going the traditional VC route (although right now, you might not have much luck).
Kung-Fu Pand just got 16 Animation nominations, . . . and I still havent seen it! It’s on my rental list.