Questions

How does one go about finding funding for a mobile app?

We've recently finished the design of a mobile app for our startup. We would like to strengthen its capacity and reach but we need funding.

4answers

Step 1: Innovate
Step 2: Kickstart, Self-fund, VC
Step 3: Repeat


Answered 5 years ago

You should check out the lecture on 'How to Raise Money' by Marc Andreessen, Ron Conway, Parker Conrad: http://startupclass.samaltman.com/courses/lec09/


Answered 5 years ago

Great question. I have spent 15 years in the seed stage startups and now is a great time to be building and funding a mobile startup. We (my seed VC fund) invest in a lot of mobile startups that are pre revenue. Typically in the range of $50,000 for 5%.

That being said, having an MVP isn't enough. First try to bootstrap your way to early users. Customers are better than investors for a variety of reasons, including: no dilution and access to user feedback. Then try kickstarter, especially if this is a b2c app. Nothing proves you have a hot product like early users, especially those early users willing to put their money in first.

Next I might turn to an accelerator like Techstars or DreamIT. This programs offer you way more than just cash. These programs offer: mentorship, education and buzz. All very helpful assets in the early days.

Hope that helps, drop me a line if you wish to know more.


Answered 5 years ago

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