Entrepreneurial Idea Help

Based on the most helpful WSO content, here are some insights and advice for your entrepreneurial idea:

1. VC Funding Requirements:

   • VCs generally require solid traction with users/customers to raise significant money. Asking for a high valuation pre-prototype/MVP and without a founding team is usually not feasible.
   • If you decide to raise pre-MVP, consider finding angel investors through your network of co-workers or industry professionals. Since you have a background in IB, leveraging your professional network could be beneficial.

2. Building a Prototype/Demo:

   • The best route is to build a prototype or demo that does one thing better than all alternatives and start getting sales as early as possible. If you can show VCs that you have pre-sales or commitments from clients, they are more likely to be interested.

3. Finding Developers:

   • Consider bringing on a co-founder with strengths where you are weakest, particularly in the technical domain. This can help ensure the feasibility of your idea and protect it from being stolen.
   • Look into accelerators and incubators, which can provide you with a network of mentors, investors, coworking space, marketing, and startup founder training. They usually take some equity in exchange for their support.

4. Additional Resources:

   • Reading "Venture Deals" can help you better understand the VC landscape.
   • Talking to startup founders who have successfully raised money can provide valuable insights and guidance.

5. Challenges in FinTech:

   • If your idea is FinTech-related, be aware that it can be harder to raise capital due to high regulatory barriers and the sophistication required from both founders and clients.

By following these steps, you can better position yourself to verify the feasibility of your business idea and attract the necessary funding.

Sources: VC startup idea - PE or VC interest? Are these numbers viable?, Q&A: 2nd Year Associate at a VC fund - Breaking in With a Fund of Funds + IB background, VC in LatAm is wild, Is VC out of undergrad a good idea?, Article: VC is deforming capitalism. #dumpsterfire