Angel investor · Mentoring

Is it good to apply for a early stage fund, when they already angel funded to a similar company ?

Sajay Alexander Founder at Trip Me

May 9th, 2016

Hi,
I am working on a start up which deals with dynamic tour package creation and also with augmented reality which is new to the industry.
I have Concept idea UI, algorithms and a simple prototype. Since I am in short of fund, I am applying for early stage startup acceleration programs. When I does the same. I found that the ventures organizing the acceleration programs for early stage start up had already seed/angel funded to some of the similar company's to mine.
I am worried about same that these ventures asking for the full details of my idea while applying for the acceleration programs in there website. Also these venture had funded for the company which is already providing dynamic tour packages. But my idea is little more advanced and can be challenge to the same company. So i am confused whether I should apply to these acceleration programs which can take my idea and implement to their funded company. Or is it a advantage for me to get fund because they are funding in the similar industry/companies?
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Chicke Fitzgerald

May 10th, 2016

Sajay - I have nearly 40 years experience in travel technology and am happy to talk to you and see if I can help you navigate the industry and the opportunity.  I am also happy to sign an NDA.   I think there are others that are better equipped on FD to counsel you on your intellectual property.  It would clearly be totally unethical for them to utilize anything that you have.  

Feel free to connect to me and set up a time to talk.



David Austin Relentless problem solver and innovator.

May 10th, 2016

I would expect that any startup investment group would be interested in diversifying their portfolio into very different products, especially since they are already high-risk by investing in startups ... diversification is one of their best means to mitigating that risk.

On the other hand, it seems investment choices do tend to be somewhat trend oriented, and if you can show that there is a trend in what you are trying to do (often this is because enabling technology becomes commonplace all at once ... such as vr ... which is what it sounds like you may be focused on), then there are likely other investment groups who do not have that in their portfolio yet.  If so, then I would target those investors specifically.  But if I were you I wouldn't waste time trying to get funded by an investors who already have a significant player in that space, regardless how much further or more advanced your solution is.

Good luck.

Sajay Alexander Founder at Trip Me

May 10th, 2016

Thanks  Chicke Fitzgerald for offering help. I have messaged you about the same. Please look at it.