MD for tech start up

[compagnito]

Hi,

Wonder if anyone might be able to advise the best way to find a potential MD with access to funds to complete the launch of a very high potential start up?

Funding required around £250,000, a lot to us, peanuts to some considering potential rewards.

Sales are in progress and talks with major blue chips.

 

[Rainmaker]

Try www.bvca.co.uk (British Venture Capital Association). The sum is probably too small for most venture capitalists, but could interest a business angel.

 

[Mayfly]

Compagnito

I agree with Rainmaker about this and that you’re really looking for private equity funding – the “business angel network” is probably a good place to start – you’ll find plenty of links in Google.

You must accept that any investor(s) will expect you to risk your own capital in the business – it’s a golden rule. This’ll be no different from making a personal guarantee on a loan from a bank, etc - in terms of demonstrating your own personal financial commitment to the company – what I’m saying is that you’ll be required to make this commitment in any event.

I can’t really comment any further, except to say that money will always be found for really good business proposals. I should add that these things are a lot easy to do in the states, where they’re far more receptive to this sort of thing.

HTH

Cheers

Mayfly

 

[compagnito]

Yeh the USA would be much better.

We've sunk our own money in thus far, and now need a further source & possibly an MD who has taken a start up through to sale.

It has been a long hard slog & I don't think we would repeat it.

The rewards/potential are quite awesome.

I am going to explore the BA route, for sure.