[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 266 KB, 737x787, 1558291425561.jpg [View same] [iqdb] [saucenao] [google]
14262647 No.14262647 [Reply] [Original]

How do I get seed funding for a startup /biz/? My work is launch-ready but most funds in Toronto are series A to growth stage types, and I can't launch without some funding to grow a team and maintain the hardware necessary for operation. Further, most government funds, even some private funds cater specifically to women entrepreneurs, or newcomers to Canada. How do I get the funds? Should I try going to NYC, Cali or EU? Why is the funding environment so difficult for pre-launch startups here?

>> No.14262656

>>14262647
Canada is a dead end for innovative people

>> No.14262665

Open your butt I'll give you some seed if you know what I mean

>> No.14262667

>>14262647
Get the fuck out of that shithole and move to America

>> No.14262735

>>14262656
>>14262667

I think I will have to. But the social culture is not too different from SF or NYC, so why's the financial environment like this for funding?

>> No.14262847

>>14262735
Because canada is full of retards who think a 1 bedroom condo for 1 million with low quality construction is an "investment", the banks love it though they milk normies for everything they have

>> No.14262884

>>14262847

No different than SF or NYC then, right?

>> No.14262967

>>14262647
easy, just become a woman

>> No.14263016

>>14262884
true

>> No.14263109

just meet with individual angels you dumb faggot

go on angel.co because you're obviously a fucking retard and won't be able to talk to Paul Graham anyway

>> No.14263188
File: 227 KB, 1306x1238, 1557551947991.png [View same] [iqdb] [saucenao] [google]
14263188

>>14262884
>>14263016
Toronto is not comparable at all. NYC is the most powerful and wealthy city in the world and the world finance capital, San Francisco is the center of the world technology industry and has literally perfect weather, Toronto is basically a strip mall with some bank head offices

>> No.14263226

>>14263188
As someone from Toronto this is so true, I always fuxking laugh when people say we are “New York” of Canada

>> No.14263230

>>14262647
take out a small business loan pussy

>> No.14263285

>>14263109
Have you checked Toronto's angel.co? It's ppl who are either members of growth funds, seed funds that expect to work with you post-launch, in-revenue @ 30% for 50k and even then, are only willing to tag-along, not lead. I would rather take out a bank loan.

>>14263188
this is depressingly true.

>> No.14263326

>>14263285
i live in san francisco so no i don't keep up with you canadians

protip: noone gives a fuck about where you're from

can't hop on a plane to meet with paul graham in NYC?

can't skype with Chamath?

pathetic

why are you even geofencing yourself like a cuck

>> No.14263338
File: 153 KB, 1252x1252, 1559848084137.jpg [View same] [iqdb] [saucenao] [google]
14263338

>>14263230
Who's going to approve non-collateralized loans totalling 250-300k? If I wasn't a young guy I'd mortgage something I own but unlucky for me, I'm not a 50yo boomer.

>> No.14263377

>>14263338
why would anyone fund someone who can't even save up 200k?

>> No.14263434

>>14263377
You had 200k in the bank at 22? I just got outta school last year and blasted the student loan off my plate.

>> No.14263506

>>14263434
the only time that 22 year olds get investment is when they can create a working prototype + get users/customers already (aka facebook, snapchat, yikyak)

no one is going to invest in a 22 year old with no track record who is literally saying "hey give me 300k and my company MIGHT work" when there are better and safer investments in companies that either already work or are led by more experienced entrepreneurs who have a good track record

>> No.14263510

>>14263326
Ah true makes sense bud.

I'll be doing this out of necessity I guess, I can't afford to waste more time, especially with the next recession fast approaching.

I just figured raising in the local region would be nice, wouldn't need to travel too far to meet, I mean no one's going to just send money to some Canadian without meeting them right?

>> No.14263596

>>14263506
Obviously a b2b fintech that hasn't raised even a pre-seed isn't going to pull much traction compared to a social app buddy, but the market exists and it's demonstrable. What's more, it is market-ready with the right hardware. It shouldn't be that hard to get funding even if I'm 22 yo, that kid that tried to make clinkle pulled like 30M in seed funding.

>> No.14263663

>>14263596

>b2b fintech
ok, so you have companies that are your customers
why not ask them for funding or help, since obviously they will be using your product in the first place?

>> No.14263779

>>14263663
In terms of a pre-paid service or as actual capital investment for equity or debt? I have not considered this approach as the entire point is to cut down client costs but I mean it's not an outlandish idea

>> No.14263979

>>14263779
if i was a company and you approached me with some service that would actually save me hundreds of thousands of dollars, i would be willing to invest in it