Fundraising

Can we create a cooperative fund to provide succor to ailing start up ventures and failing ones?

Venkatesa Prasad FOUNDER AND DIRECTOR- TEAMLIFTSS IT SYSTEMS AND SOLUTIONS-RFID AND AUTOMATION,MOTOROLA GOLD PARTNER

November 25th, 2015

With the spate of innovative ideas and start ups there is an imminent danger of a few getting into rough patch and if as a community these entities can be supported for a future price this would greatly enhance the entrepreneurial  spirit and make it even more exciting.

John Currie ITERATE Ventures - Accelerating Science & Technology Ventures www.iterateventures.com

November 25th, 2015

Venkatesa,  I think it already exists, and it's called an accelerator.  Those programs have now evolved as the seed stage fund/vehicle for ventures to get early traction and work with experienced mentors in their field.  Entrepreneurship is very Darwinian by its nature, and failing fast and moving on is much better that keeping a venture going on life support for way to long.

Narayanan Mummidi World's largest Online Supermarket "Egroceryshop.in & Retail outlet of Oxigen at Madhavaram,Chennai

November 25th, 2015

Yes we can create a cooperative fund. I will join u 

Karen Leventhal

November 26th, 2015

I'm curious if there is targeted research, showing the precise points where start ups get stuck and how to tell the difference between a potentially successful start up that needs help to get across a bridge and a start up with a fatal flaw in their team or business model that may never get across that bridge even with help. 

John Currie ITERATE Ventures - Accelerating Science & Technology Ventures www.iterateventures.com

November 27th, 2015

Karen, I believe a lot of folks have studies this, and the work of Steve Blank and the Lean Principles movement has won over most.  That methodology is all about the Customer Discovery journey.  Founders must search for, and validate, their Customer Hypothesis before building a of of their solution.  What's been proven si that the founders assumptions always are not 100% correct, and proper interviewing leads to identification of real pain that customers are looking for and will pay for. The successful entrepreneurs are able to make these pivots and adapt to what they hear through these interviews.

Karen Leventhal

November 27th, 2015

Absolutely John. We did Steve Blank's customer discovery process through an accelerator and it was tremendously helpful. I would recommend it to anyone. There are other crucial milestones, such as the average time it takes to find a team that sticks, how to overcome the valley of death when funding is short in the early years.   I've found as a person doing this journey, there are the hypotheticals, and then there are the on the ground realities, which are much more complex then advertised. 

John Currie ITERATE Ventures - Accelerating Science & Technology Ventures www.iterateventures.com

November 27th, 2015

Karen, that's great you are familiar with the process - and more importantly, that you are person doing the journey.  I am in the same boat. And I've come to learn that all those other questions are answered AFTER the Customer Discovery process is properly executed.  The founders figure out how to take the 1st bucks ... everything else should follow.  I agree 100% to the complexities -  but paying customers start to make the answers easier.  Lack of paying customers opens up more questions to the founders about their assumptions.  Hope this makes sense, would be glad to ae an offline discussion about a specific issue/question.

Liza Taylor Communication Specialist at Keyideas Infotech

December 5th, 2015

Venkatesa Prasad, Cooperative fund is good as long as the founder feels the need of a community funding. I haven't come across any startup who is community oriented. In terms of PR branding, some startups wisely use the the word "social-good"; I hope the concerned founder knows better the definition of social-good. The best example of community-funding is when founders own 3/4th of the stake and the co-founders own 2/4th or half of the stake. 

I hope this helps.