We are developing our startup plans and we are talking to business developers, but there is a few decision that need to be made. The original plan I had was to do heavy development first and then seek VC funding. In the current economy, that plan doesn’t sit to well with other people. We revised the plan to look for seed capital to bring some security into the mix, but I have second thoughts. Talking to experienced entrepreneurs and reading startup tips makes me consider reverting to the original plan. Meanwhile, getting VC seed capital would give us the benefit of strategic advice. This is recommended by other entrepreneurs I’ve talked to as well.
Both going without funding for a while and getting seed capital would work for me. If going without seed capital, we might be able to stay under the radar for longer and we will have more leverage when we seek funding while having seed capital from a VC now will be a strong signal when we need funding. The good thing is that we’re not in desperate need of cash.
We have a meeting set up with the business developer next week and whether to go for funding or hold for a while will be one of the topics. The main focus is of course going to be our specific technical plans and the market potential.
Does anyone have strong arguments for going without funding or equally strong arguments not to?