Start-Up Funding

[TheWhiteDecipher]

Hey all,

I'm new to the Bitcoin Talk forum, and I hope it's alright for me to ask a few questions. I've been exploring the DeFi space for a while now, and have come across numerous innovative ideas that I've been working on for quite some time. I'm sure many of you have gone through a similar process, and you know it's not easy. Despite the challenges and occasional market setbacks, I remain optimistic and determined. After carefully crafting business plans, prototypes, and technical documents, I've assembled a group of talented individuals to help me build out these ideas. So far, things have gone well, but now we're at the funding stage. I'm well aware of the competition, but my determination to create decentralized interoperability solutions drives me to outpace the big-player exchanges.

As a young and passionate cryptocurrency enthusiast, I'm committed to developing innovative applications aligned with Satoshi's true vision. However, my age sometimes leads people to underestimate me, which only fuels my motivation to prove them wrong. At this stage, I'm looking for more talented individuals to join our team and help bring this project to life.

Regarding funding, I'm seeking suggestions for funding a new project in its early stages. We currently have seven prototype versions, and I'm working on the eighth. I've been working tirelessly to explain the project's concepts in plain English and back them up with detailed mathematical documentation. If you have any funding suggestions or know of someone who might be helpful, please let me know.

Thanks,

TWD

[pingu39]

HI there,
You looking for more talented individuals to join your team.What exactly are you looking for?What kind of talented people?
For promotion or development.Can you explain a little more? Maybe I want to become part of the team, but I don't know what it is about.

[pingu39]

And you also have a discussion here about funding https://bitcointalk.org/index.php?topic=5448228.0

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[pingu39]

Also I post about Platforms for Crowdfunding in Crypto,You can try it too.
My post:https://bitcointalk.org/index.php?topic=5448228.msg62080691#msg62080691

Why you not try with Crypto fundraising platform.One of them is INDIEGOGO , Website :https://www.indiegogo.com
Indiegogo is Crowdfunding platform where you can donate money, Bitcoin, or more cryptocurrencies to support ideas.
Some of them are listed here:
https://bitcoinke.io/2022/04/top-10-platforms-for-crowdfunding-in-crypto

TallyCoin – A Bitcoin fundraising Platform
Tecra Space – Fundraising for High-Tech Projects
Meridio – Tokenizing Real Estates for Investors
QuantumRe – Unlocking Home Equiy with No Debt
Kickstarter – Funding Creative Projects with Transparency
Gitcoin – Invest in Open-source Web3 Projects
WeFunder – A New Kind of Stock Market for startups and SMEs
StartEngine – Investing in Small Businesses Seamlessly
CoinStarter – Platform for Coin-Based Campaign Funding
PolkaStarter – A Decentralized Capital-Raising Platform

[Saisher]

Regarding funding, I'm seeking suggestions for funding a new project in its early stages. We currently have seven prototype versions, and I'm working on the eighth. I've been working tirelessly to explain the project's concepts in plain English and back them up with detailed mathematical documentation. If you have any funding suggestions or know of someone who might be helpful, please let me know.

With investors losing their trust in ICO type of funding it will really depend on how good your project is and how good your portfolio is as a developer, if funding is the one that can keep the project I recommend that you present this on the investor community in your country to get the initial funding, then create a thread in the altcoin section about your project for additional funding, but that will not be easy at this point in time as investors are scrutinizing all the project that comes along for funding.
Because there are projects that look good that failed to materialize because of the developers' greed and lack of motivation for the projects' completion, you will find it hard to get support from investors now.

[nioctib_100]

The reality is that raising funds is very difficult to do and without a proven track record of successful companies and exits, it's practically impossible before you have at least a public product and revenue. In almost all cases, you should keep your head down, stay working, and build the product without worrying about funding. Every day you're out trying to fundraise (which takes months in even the easiest cases), you're not building your product.

Also, think about what kind of valuations you can command when you have not yet launched the product and have no users. Just throwing out examples here that might be relatively realistic if you're in high school or college, but if a terrific idea and the team is worth $20,000, then that idea that has been built and has several paying customers, it's now worth $200,000. You'd sell yourself short by fundraising before launching. You'd give away 25% of the company for just $5,000 when you could have waited a little, bootstrapped the company, and then sold that same 25% for $50,000.  I'm cautiously a believer in holding off on fundraising until you hit the point when it's absolutely necessary, and I believe most scrappy (I mean that in a good way) startup ideas actually don't need to raise funds. If you have a prototype somewhere that you'd be willing to share, I'd be happy to take a look and offer some advice. I've been on both sides fundraising in the past, although I'll admit, my fundraising mindset is pretty conservative and goes against the grain of what you see in Silicon Valley and ICOs with money being thrown all around, which has led to both famous losses and famous successes.

[coin-investor]

Hey all,

I'm new to the Bitcoin Talk forum, and I hope it's alright for me to ask a few questions. I've been exploring the DeFi space for a while now, and have come across numerous innovative ideas that I've been working on for quite some time. I'm sure many of you have gone through a similar process, and you know it's not easy. Despite the challenges and occasional market setbacks, I remain optimistic and determined. After carefully crafting business plans, prototypes, and technical documents, I've assembled a group of talented individuals to help me build out these ideas. So far, things have gone well, but now we're at the funding stage. I'm well aware of the competition, but my determination to create decentralized interoperability solutions drives me to outpace the big-player exchanges.

These are strong words but investors cannot be swayed by strong and compelling words anymore, they want to know the developers' capability and what projects they've built in the past so that investors will believe that they can do a platform better than all the existing platforms.
Credibility is very important and part of that credibility is the team's resumes, funding stage at this point in time is very hard you have to make investors believe that you are capable and investors' money is worth it.
It's better if possible to just launch a private sale on your location so they, investors will
have also been on the roadmap of the project.

[MainIbem]

There are some certain stage you should have gotten to before seeking for funding, it should be that you have almost finished about 70 to 80 percent of your frame work, then you might have attracted investor to funds your project. Currently is very poor of your to seek funding without them knowing about your projects future were it's being deriving to, besides the era of fundraising has gone away where no one is willing to release his funds to unknown users with no clear vision of their projects. Before you could seek for this help, there should be lots of details to dropped, maybe
Website, social medial handle, telegram any other places that you need to promote your project.

[ARCADIA-OG]

Thanks for creating the thread I'm more or less in the same boat.
In general, every poster has given you a valid point to look forward. What you are looking after is having a minimum viable product (MVP). You need to synthetize all those ideas in a brief format also.
Local funding can be difficult because tech literacy is not a given anywhere and regulation can also be hard. I'd like to know more about what it is anyway.

[virasog]

There are some certain stage you should have gotten to before seeking for funding, it should be that you have almost finished about 70 to 80 percent of your frame work, then you might have attracted investor to funds your project. Currently is very poor of your to seek funding without them knowing about your projects future were it's being deriving to, besides the era of fundraising has gone away where no one is willing to release his funds to unknown users with no clear vision of their projects. Before you could seek for this help, there should be lots of details to dropped, maybe
Website, social medial handle, telegram any other places that you need to promote your project.

Getting start-up funds is really difficult these days as there are a lot of projects which are built only to collect money in the name of start funds and then disappeared. The modern name for this was Initial coin offering (ICO) where there were too many scam projects popped up only to collect and scam people's money.

Due to this reason, no one will invest in any project which has only an idea and not the final product.  If OP needs to attract investors he would need to come up with some unique working product / project and then see if he may get investors for partnerships and further product growth.

[MainIbem]

Snip

Getting start-up funds is really difficult these days as there are a lot of projects which are built only to collect money in the name of start funds and then disappeared. The modern name for this was Initial coin offering (ICO) where there were too many scam projects popped up only to collect and scam people's money.

Due to this reason, no one will invest in any project which has only an idea and not the final product.  If OP needs to attract investors he would need to come up with some unique working product / project and then see if he may get investors for partnerships and further product growth.

Was this the reason why they now turned to IEO, and IDO?
Since they noticed investors are longer interested investing in shitcoin and being scammed by some groups of people who claims to be the team members. Also noticed that most of the altcoin being introduced all these days have no use case and utilities so investors may not pay heed to invest in such projects.

[TheWhiteDecipher]

Hey everyone, I can't thank you enough for all the helpful replies! Your shared insights are incredibly valuable, and I truly appreciate them. Fundraising without a finished product is a real challenge, and I know I need to bring more developers on board to create that product, which obviously requires money. Since the project is still in its early stages, effectively communicating its true value is a bit of a hurdle, but ultimately, it depends on how well I can pitch it to potential investors.

The journey to find those investors hasn't been easy, but I'm not giving up. It's unfortunate that ICOs have earned such a bad reputation due to scams, making it more difficult for honest people to find support. It's disappointing that many in this market prioritize their self-interest, even if it means breaking the rules. With all the scams, hacks, and exploits out there, it seems like some are just waiting for the next platform to collapse.

I'm wary of public crowd sales, as someone with greater resources could swoop in and take the idea. However, I'm always prepared to pivot with other ideas if needed. I've considered approaching Uniswap and similar platforms, but as you've pointed out, they're likely only interested in completed products.

My project's goal is to become a true one-stop shop, emphasizing transaction optimization and interoperability. I realize there are numerous wallets and exchanges making similar claims, but they often fail to deliver. At the moment, I'm unsure how to secure the necessary funds to hire more developers, but I remain determined to push forward and make this project a reality.

I've been dedicating 15+ hours a day to this project for some time now, and I have no plans to stop, regardless of whether I have developers or not. I'm committed to bringing this project to fruition. Thanks again for all the valuable insights you've shared!

TWD

[Accardo]

I've assembled a group of talented individuals to help me build out these ideas. So far, things have gone well, but now we're at the funding stage.

Count yourself fortunate to have a group of talented individuals helping out as a team, see them as your first investors, they've gone through the building stage with you don't neglect them now that funding is essential to the growth of the project. It's commonsensical, most projects even the competitors you mentioned did similar things to stand their projects, CZ binance not exempted. Nobody throws money into a project they're not sure of, like you pointed too, because of the ICO era and scams. The team you've got can as well join you in the search for investors if they have no funds to invest on the project. I mean they should trust the project so much that they can invest money and time till it gets the attention you guys need.

Goodluck.

I've been dedicating 15+ hours a day to this project for some time now

Meanwhile how do you achieve this and does it have any repercussion to your health and your glucose level?

[TheWhiteDecipher]

I've assembled a group of talented individuals to help me build out these ideas. So far, things have gone well, but now we're at the funding stage.

Count yourself fortunate to have a group of talented individuals helping out as a team, see them as your first investors, they've gone through the building stage with you don't neglect them now that funding is essential to the growth of the project. It's commonsensical, most projects even the competitors you mentioned did similar things to stand their projects, CZ binance not exempted. Nobody throws money into a project they're not sure of, like you pointed too, because of the ICO era and scams. The team you've got can as well join you in the search for investors if they have no funds to invest on the project. I mean they should trust the project so much that they can invest money and time till it gets the attention you guys need.

Goodluck.

I've been dedicating 15+ hours a day to this project for some time now

Meanwhile how do you achieve this and does it have any repercussion to your health and your glucose level?

Hey, thanks for your message! I completely agree with you. My health has been a bit rough lately due to stress. I can't always work 15-hour days, but I often find myself staying up late. I get up at 6 am, hit the gym, and start my workday around 7:30 am, staying on my computer until 11 pm or even midnight, depending on my tasks.

I'm dedicating a lot of time and energy to this, but it's what I genuinely enjoy doing. Computer science just clicks for me, and it keeps me motivated to work on this project, even if it affects my health. A few months ago, I thought I was facing some health issues, but it really it's just been a build-up of stress from this project.

Crypto has been the life and death of me, I've made lots and lost everything. But there's something about it that keeps me driven to finish what I started, and that's bringing these ideas to life.

I'm a pretty fit guy, but I've noticed my weight drop a pretty good amount unfortunately due to the fact that I'm just working and never focusing on eating, but I'm trying to get better and improve myself every day. Been watching too many David Goggins videos lol now I'm just in a warrior minset. Thanks man!

[ARCADIA-OG]

Nobody else in your team helps you code? I work about that same amount time, but I'm alone, and coding or designing is only about 50% of that for now so is not that demanding, but still.

[TheWhiteDecipher]

Nobody else in your team helps you code? I work about that same amount time, but I'm alone, and coding or designing is only about 50% of that for now so is not that demanding, but still.

I’m the sole developer on my team, I work alongside three partners who primarily focus on securing funding. Unfortunately, our fundraising efforts haven't been as successful as anticipated, prompting me to take matters into my own hands. My partners are exceptionally intelligent and talented individuals who have provided me with invaluable advice. However, their lack of experience in the cryptocurrency domain has made it challenging for them to fully understand the project's objectives.

Although it's difficult to admit, there are times when it feels like I'm the only one truly invested in this endeavor. Despite my tireless efforts to provide clear and detailed explanations, I often struggle to effectively communicate my vision. I am deeply grateful for the support I've received from my partners and mentors, but at this stage, I urgently need additional developers to join the team.

While I consider myself to be quite skilled in having developed what I have so far, I am hesitant to rely solely on my coding abilities for a project that involves people's money. It's not that I'm incapable of completing the task, but rather that it must be executed correctly for the project to succeed. My primary reason for starting this thread is to seek advice on funding opportunities, so I can attract the right partners and developers who share my passion and commitment to making this project a success.

Regardless of the challenges ahead, I am determined to see this project through to completion, with or without assistance.

[yhiaali3]

While I consider myself to be quite skilled in having developed what I have so far, I am hesitant to rely solely on my coding abilities for a project that involves people's money. It's not that I'm incapable of completing the task, but rather that it must be executed correctly for the project to succeed. My primary reason for starting this thread is to seek advice on funding opportunities, so I can attract the right partners and developers who share my passion and commitment to making this project a success.

Regardless of the challenges ahead, I am determined to see this project through to completion, with or without assistance.

I am glad to see all this enthusiasm and determination to successfully complete your dream project.

The problem of obtaining the necessary funding is always the biggest problem for any project. This reminds me of my friend who has been working on a wallet project and a decentralized platform for about 2-3 years, but it has not finished yet. He is also an expert in programming and is working on the project alone now because some partners abandoned him at some point in the project. The development of the project is supposed to be completed within a year, but it took perhaps three years because he works alone, but he did not give up despite all that.

I am telling you this story to encourage you to move forward with your project despite the lack of funding and all the other difficulties.

I wish you success in completing your project.

[Accardo]

Hey, thanks for your message! I completely agree with you. My health has been a bit rough lately due to stress. I can't always work 15-hour days, but I often find myself staying up late. I get up at 6 am, hit the gym, and start my workday around 7:30 am, staying on my computer until 11 pm or even midnight, depending on my tasks.

I'm dedicating a lot of time and energy to this, but it's what I genuinely enjoy doing. Computer science just clicks for me, and it keeps me motivated to work on this project, even if it affects my health. A few months ago, I thought I was facing some health issues, but it really it's just been a build-up of stress from this project.

Crypto has been the life and death of me, I've made lots and lost everything. But there's something about it that keeps me driven to finish what I started, and that's bringing these ideas to life.

I'm a pretty fit guy, but I've noticed my weight drop a pretty good amount unfortunately due to the fact that I'm just working and never focusing on eating, but I'm trying to get better and improve myself every day. Been watching too many David Goggins videos lol now I'm just in a warrior minset. Thanks man!

It's important to work long hours at least to achieve our goals, but watch yourself closely and don't neglect any slight pain in your body. Most importantly, always take sugary drinks to boost your glucose level. Since these work requires lots of brain power. You can work shift, someone else can handle the programming aspect some hours while you take enough rest. It'll help fast thinking, and decision making. So that you can make the right decisions. 

[ARCADIA-OG]

Nobody else in your team helps you code? I work about that same amount time, but I'm alone, and coding or designing is only about 50% of that for now so is not that demanding, but still.

I’m the sole developer on my team, I work alongside three partners who primarily focus on securing funding. Unfortunately, our fundraising efforts haven't been as successful as anticipated, prompting me to take matters into my own hands. My partners are exceptionally intelligent and talented individuals who have provided me with invaluable advice. However, their lack of experience in the cryptocurrency domain has made it challenging for them to fully understand the project's objectives.

Although it's difficult to admit, there are times when it feels like I'm the only one truly invested in this endeavor. Despite my tireless efforts to provide clear and detailed explanations, I often struggle to effectively communicate my vision. I am deeply grateful for the support I've received from my partners and mentors, but at this stage, I urgently need additional developers to join the team.

While I consider myself to be quite skilled in having developed what I have so far, I am hesitant to rely solely on my coding abilities for a project that involves people's money. It's not that I'm incapable of completing the task, but rather that it must be executed correctly for the project to succeed. My primary reason for starting this thread is to seek advice on funding opportunities, so I can attract the right partners and developers who share my passion and commitment to making this project a success.

Regardless of the challenges ahead, I am determined to see this project through to completion, with or without assistance.

Yeah I can understand your whole position quite well. I actually identify with it a lot, so is good to know you are not alone in path.

But I would not advice on doubling down on a strategy that is not working out, While you'll always need more developers, whose feedback are you basing your development on? Is a common error to spend a lot of time developing a technically perfect solution that either nobody needs, or everybody will want to be different once released. MVP is the way.

I invite you to go a check the first landing pages and app versions of the unicorns tech companies that we know today. They all sucked, but they got a product that public could use, and a streamlined vision of what they wanted to do.

[moneystery]

It's quite difficult at this time to be able to convince investors to be able to invest in crypto projects, especially as you are a team that has no experience in developing crypto platforms before, it's even more difficult.

But if you can build a team of people who are quite popular in crypto platform development and already have a good portfolio, you can use that as capital to be able to convince investors, besides good white papers and really reliable applications.

Good luck on that.