Entrepreneurship · Entrepreneur

How early should I start speaking with VCs?

Kashif Jehangir Assistant Manager Administration at Private Company

September 13th, 2016

Is it ok to reach out when you have an idea on a napkin or should I wait until I have an MVP and significant traction?
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Martin Omansky Independent Venture Capital & Private Equity Professional

September 13th, 2016

If you are a Nobel Prize winner with an idea on a napkin, you will get a serious hearing from investors. If not, don't approach investors without a story, a product/market combination, a team, a document, a financial projection, and evidence of the uniqueness and protectabity of your venture. Sent from my iPhone

Rob G

September 13th, 2016

It's not binary.  with nothing more than an idea on a napkin you will be wasting everyone's time by trying to schedule meetings, which you won't likely get, but do take the time to go to meetups and events attended by VCs and at least introduce yourself and work on building relationships.  Then when you do have some traction you are not starting completely from zero. Also, build relationships with founders of funded companies who can help with warm introductions when the time is right. 

Jeffrey Pearl Entrepreneur, CEO and Sales Leader

September 13th, 2016

I have found having traction and revenue is very important

Shams Juma

September 13th, 2016

Don't think in isolation! Start reaching out to VCs and talk to them. Get it straight from the source.

John II Entrepreneur - Technologist - Software Architect. The Code Wookie is focused on helping people get the most out of tech.

September 13th, 2016

I was fortunate enough to be at a meetup with several VCs in our area. The VCs encouraged us to reach out them early about an idea, not for funding, but for advice and direction. The VCs often have knowledge about others that have a similar idea and may be good partners to work with on the same venture or on complimentary ones.