if you were given 500k to start a business...what would you do with the money?
i've partnered with a real seed VC fund with 10mm. We are looking to fund 20 companies, 500k each for 20%. Looking for idea stage companies...you bring the idea...we supply the cash.
you don't need revenue...you don't need to have created the product...you just need an idea...an idea wth POTENTIAL
- you can't buy/sell/trade public securities
- you can't use the money to pay yourself a salary
- you can't buy real-estate...but you can lease for the business
You can start any kind of business...and you don't need to invest your own cash or credit.
What kind of business would you start that requires initial capital?
Daycare center? Korean BBQ restaurant? Gourmet Food Wholesaler? Medical Clinic? Electric Vehicle manufacturer? anything you can think of!!
This fund has a goal of job creation, with profit as a secondary (but still important) goal.
An example of a business we funded so far was a daycare.
Nannies are expensive, and there is a shortage of affordable daycare facilities.
We funded a multi-location business, where staff are load balanced depending on need.
Parents sign up, and can drop their children at any of our locations. We expand / move around staff based on need. Our 500k infusion has spured the creation of 100 jobs.
We would like to do more of these...or really any business where our funds can spur job creation.