Seed funding

What is your experience with FundersClub, SeedUps, or a similar crowdfunding platforms?

Stephen Karlsgodt Systems Engineer & Entrepreneur

June 13th, 2014

I'm interested in hearing about experiences, and learning any dos/don'ts.

Jake Carlson Software Development Manager at Oracle

June 13th, 2014

I should also mention as well that prior to working at MicroVentures, a client of mine applied but was denied. We are very selective and go only for startups with decent traction etc. But I don't make those decisions. ;)

Maria

June 15th, 2014

Yes - what did you want to know about them?

Jake Carlson Software Development Manager at Oracle

June 15th, 2014

Based on my experience, it will be difficult to get picked up with these crowdfunding sites until you have proven the product and/or gained at least some traction. Of course, if there is credible evidence that the product will sell, it's worth a try.

Jake Carlson Software Development Manager at Oracle

June 13th, 2014

I am lead developer for MicroVentures in Austin/SF. The website (new version just released) pretty much hits on all the basic information, but I'd be happy to answer any specific questions.

Stephen Karlsgodt Systems Engineer & Entrepreneur

June 15th, 2014

How far along do companies have to be to get investments with these types of funding vehicles? I'm at the working prototype stage, but I have no customers or 'traction' yet. My product is hardware based so I can't just put a beta version up on a website and get feedback. (Also, the prototypes are expensive and rough around the edges, so making a bunch of those for beta testing is not desirable.)

I'm just looking for some feedback and thoughts on how these crowd funding site might view my company at this point. I want to do whatever I can to make my opportunity attractive to them.

Thanks!