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Funding needed for start up

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  • 14-04-2015 12:53pm
    #1
    readytorock
    Registered Users Posts: 118 ✭✭


    Hi all,

    Currently in a startup incubator in Galway and looking for advice and opinions on the best way to raise a small amount of money to get my web startup off the ground. Looking for between €1000 - €5000. Any advice on any banks that are lending or any other routes for a small amount would be great! This is just to see whats available or what has worked for others! Thanks


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    #2
    duploelabs
    Registered Users Posts: 11,403 ✭✭✭✭duploelabs


    Local enterprise board followed by Microfinance ireland will sort you out and mentor you along the process.


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    #3
    smash
    Closed Accounts Posts: 34,809 ✭✭✭✭smash


    That's a very small amount. Have you tried Enterprise Ireland?


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    #4
    readytorock
    Registered Users Posts: 118 ✭✭readytorock


    smash wrote: »
    That's a very small amount. Have you tried Enterprise Ireland?

    Hi...thanks for the reply...yes gone through enterprise irelands new frontier programme. Enterprise Ireland wont fund until i have a website built and essentially proven the model! And yes it is a small amount...just trying to see if theres any other options!! Thanks for your advice and any other opinions are greatly appreciated!


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    #5
    readytorock
    Registered Users Posts: 118 ✭✭readytorock


    duploelabs wrote: »
    Local enterprise board followed by Microfinance ireland will sort you out and mentor you along the process.

    Hi thanks for your response! Microfinance Ireland wont fund anything until ive built a working website and demonstrated revenue and concept etc...essentially when i have reduced the "risk" which i can understand. Local enterprise use and recommend microfinance ireland but its a dead end. Thanks for your advice!


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    #6
    ironclaw
    Registered Users Posts: 8,004 ✭✭✭ironclaw


    Have you approached a local business owner? Or a pool of friends? That's not a lot of capital, I could even give you that amount.


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    #7
    readytorock
    Registered Users Posts: 118 ✭✭readytorock


    ironclaw wrote: »
    Have you approached a local business owner? Or a pool of friends? That's not a lot of capital, I could even give you that amount.

    Hi thanks for your reply! A local business owner is a good idea thanks. Yes essentially its not alot of capital for a startup....enough to get the front and back end developed, tested and launched with a group of already designated users. Banks and crowdfunding is the only other alternatives?


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    #8
    smash
    Closed Accounts Posts: 34,809 ✭✭✭✭smash


    To me personally it seems like a very small amount of money to get a site designed, built and tested.

    How large scale is the project? Would you be willing to part with some equity in your company in exchange for getting it developed by someone. It might be a route you could take. If not, a credit union loan could be the way forward.


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    #9
    readytorock
    Registered Users Posts: 118 ✭✭readytorock


    smash wrote: »
    To me personally it seems like a very small amount of money to get a site designed, built and tested.

    How large scale is the project? Would you be willing to part with some equity in your company in exchange for getting it developed by someone. It might be a route you could take. If not, a credit union loan could be the way forward.

    Hi, yes id absolutely be willing to part with equity at this stage...preferrably over a loan due to a vested interest in the project and potential for mentoring etc. Ive outsourced the front end build with a designer on elance and broken the design into 3 stages purely to to break the payment down...the process is alot slower this way but currently my only option. Back end developer building the back end framework but ideally further back end knowledge in the project/partner would be desired. Im creating an online platform for the creative arts sector. Users can build their own personal profile page by easily uploading their work, keep up to date with news/events, connect with other users and our usp...allowing them to apply for jobs on the platform in a revolutionary new way...for both jobseeker and employer!


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    #10
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Would you think about doing a night class to learn how to put the website together yourself.

    It looks like you have ideas for websites every year. The ability to build sites yourself would allow you to test some/all of them out.


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    #11
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    readytorock wrote: »
    Hi, yes id absolutely be willing to part with equity at this stage...preferrably over a loan due to a vested interest in the project and potential for mentoring etc. Ive outsourced the front end built with a designer on elance and broken the design into 3 stages purely to to break the payment down...the process is alot slower this way but currently my only option. Back end developer building the back end framework but ideally further back end knowledge in the project/partner would be desired. Im creating an online platform for the creative arts sector. Users can build their own personal profile page by easily uploading their work, keep up to date with news/events, connect with other users and our usp...allowing them to apply for jobs on the platform in a revolutionary new way...for both jobseeker and employer!

    I'd love to get involved but you are probably a lot better off with someone technical who is going to actually be able to help develop it as well. Always fun to get involved with new projects!


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    #12
    readytorock
    Registered Users Posts: 118 ✭✭readytorock


    Graham wrote: »
    Would you think about doing a night class to learn how to put the website together yourself.

    It looks like you have ideas for websites every year. The ability to build sites yourself would allow you to test some/all of them out.

    Hi, i know alot of my posts have been about this concept! I have traction now...been through enterprise ireland new frontiers, finalist in ibye 2014 and currently in a startup incubator in Galway. The build is ongoing...a small fund would simply accelerate the process!


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    #13
    readytorock
    Registered Users Posts: 118 ✭✭readytorock


    jimmii wrote: »
    I'd love to get involved but you are probably a lot better off with someone technical who is going to actually be able to help develop it as well. Always fun to get involved with new projects!

    Hi, im a one man band right now so always looking for partners and founders on the venture! Whats your background? Cheers


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    #14
    smash
    Closed Accounts Posts: 34,809 ✭✭✭✭smash


    To be it just sounds like behance or dribbble.


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    #15
    readytorock
    Registered Users Posts: 118 ✭✭readytorock


    smash wrote: »
    To be it just sounds like behance or dribbble.

    Yes same concept in homepage and profile page. Our jobs section and other features separates us apart. And behance and dribbble are primarily usa focused.


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    #16
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    readytorock wrote: »
    Hi, im a one man band right now so always looking for partners and founders on the venture! Whats your background? Cheers

    Retail so not really my area of expertise!


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    #17
    NotaSheep
    Registered Users Posts: 85 ✭✭NotaSheep


    Try the WDC Creative Industries Microloan http://www.wdc.ie/microfundci/#toggle-id-3
    HTH.


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    #18
    NotaSheep
    Registered Users Posts: 85 ✭✭NotaSheep


    You could combine the microloan of 2,500 with Digital Online Trading Voucher from LEO of 2,500 and voila, 5k. At least in theory :)


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    #19
    bigpink
    Banned (with Prison Access) Posts: 4,552 ✭✭✭bigpink


    How far would 5000 bring you?


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    #20
    readytorock
    Registered Users Posts: 118 ✭✭readytorock


    bigpink wrote: »
    How far would 5000 bring you?
    Hi, it would accelerate the entire start up. The build of the website both front end and back end would be finalised within 8-10 weeks.
    It would enable us to go into our beta testing immediately after with our assigned 50 users.
    It will cover all of our initial set up costs and server space.
    Finally and most importantly it will enable us to market the platform effectively both online and offline here in Galway initially.
    The quicker we can grow our user base, the quicker we can implement our usp jobs feature which will enable us to charge companies for job postings on the platform.

    So yes a fund of 5k will go a long way to getting the project designed, developed, tested and marketed. We already have free rent in Startx6 in Galway as part of the 6 month incubator so our external costs are low and will stay low!

    Thanks


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    #21
    smash
    Closed Accounts Posts: 34,809 ✭✭✭✭smash


    readytorock wrote: »
    Yes same concept in homepage and profile page. Our jobs section and other features separates us apart. And behance and dribbble are primarily usa focused.

    Well they're international. Dribbble is more prestigious as its invite only, but anyone who has an Adobe subscription (nearly all designers) will have a behance account by default.

    Still though, I'd like to see your platform. Best of luck


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    #22
    readytorock
    Registered Users Posts: 118 ✭✭readytorock


    smash wrote: »
    Well they're international. Dribbble is more prestigious as its invite only, but anyone who has an Adobe subscription (nearly all designers) will have a behance account by default.

    Still though, I'd like to see your platform. Best of luck

    Hi,

    Yeh you're absolutely right adobe buying behance was a no brainer! Are you a designer yourself or involved in web in some capacity??
    Cheers


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    #23
    Atomico
    Banned (with Prison Access) Posts: 388 ✭✭Atomico


    readytorock wrote: »
    Yes same concept in homepage and profile page. Our jobs section and other features separates us apart. And behance and dribbble are primarily usa focused.

    I would be very wary about this OP. Just because a site is more US-focused doesn't mean that there aren't lots of users from Ireland and other countries on it. I'd be very surprised if there weren't lots of Irish designers on Dribbble. Plus could they not just implement the other features at any stage?

    Actually just checked - Ireland is one of the top countries for designers on Dribbble! https://dribbble.com/countries


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    #24
    readytorock
    Registered Users Posts: 118 ✭✭readytorock


    Atomico wrote: »
    I would be very wary about this OP. Just because a site is more US-focused doesn't mean that there aren't lots of users from Ireland and other countries on it. I'd be very surprised if there weren't lots of Irish designers on Dribbble. Plus could they not just implement the other features at any stage?

    Actually just checked - Ireland is one of the top countries for designers on Dribbble! https://dribbble.com/countries

    Dont know how you came to the conclusion ireland is one of the highest??? Click on the countries and youll see! Anyway i dont want to get into a discussion about the merits of the business opportunity. I havent discussed it fully with you so it is hard to make a judgement! Are you tech or web savy? Always looking to speak with people! Cheers


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    #25
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    readytorock wrote: »
    Dont know how you came to the conclusion ireland is one of the highest???

    I would guess by looking at the list of 30 'Top Countries'.


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    #26
    readytorock
    Registered Users Posts: 118 ✭✭readytorock


    Graham wrote: »
    I would guess by looking at the list of 30 'Top Countries'.

    Its quite low down in ranking and numbers. Not surprising though


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    #27
    Atomico
    Banned (with Prison Access) Posts: 388 ✭✭Atomico


    readytorock wrote: »
    Dont know how you came to the conclusion ireland is one of the highest??? Click on the countries and youll see! Anyway i dont want to get into a discussion about the merits of the business opportunity. I havent discussed it fully with you so it is hard to make a judgement! Are you tech or web savy? Always looking to speak with people! Cheers

    Em...seeing that Ireland is listed among the 'Top Countries' worldwide along with 29 others?! I would be concerned that you hadn't spotted this before.

    Yes I am web savvy - 10 years of experience.

    I would encourage you get into as many discussions on the merits of the business opportunity with as many people as possible. Otherwise you may be spending and investing your time into something that may be unlikely to take off (and where you could instead be working on something that would have a better chance). Being positive but realistic is key!


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    #28
    readytorock
    Registered Users Posts: 118 ✭✭readytorock


    Atomico wrote: »
    Em...seeing that Ireland is listed among the 'Top Countries' worldwide along with 29 others?! I would be concerned that you hadn't spotted this before.

    Yes I am web savvy - 10 years of experience.

    I would encourage you get into as many discussions on the merits of the business opportunity with as many people as possible. Otherwise you may be spending and investing your time into something that may be unlikely to take off (and where you could instead be working on something that would have a better chance). Being positive but realistic is key!

    Thanks for the feedback and yes i had spotted Ireland on the list...the numbers are still incredibly low even though its on the 'list'.

    Oh great to hear! Are you a designer/developer etc??

    Cheers


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    #29
    Atomico
    Banned (with Prison Access) Posts: 388 ✭✭Atomico


    readytorock wrote: »
    Thanks for the feedback and yes i had spotted Ireland on the list...the numbers are still incredibly low even though its on the 'list'.

    Oh great to hear! Are you a designer/developer etc??

    Cheers

    Hi there,

    No not a developer or designer - I'm on the marketing side myself. Digital marketing specifically, but have done online product management over the years too - working with devs and designers, QA teams, etc..

    The numbers are pretty low but maybe that shows the demand isn't there as such, especially if Dribbble is so well-known among designer types? Just a thought, not saying it is the case as haven't looked into it or anything.


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    #30
    Chris1479
    Registered Users Posts: 3 ✭Chris1479


    Hi,

    I've gone down your route with a Web business before and know where you are at. I'm in a position to help someone out now with advice and financially. I'm assuming since you've gone through the programmes that you have the business plan and model in place? Can have a further chat with you if you are interested?

    Chris.


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    #31
    readytorock
    Registered Users Posts: 118 ✭✭readytorock


    Chris1479 wrote: »
    Hi,

    I've gone down your route with a Web business before and know where you are at. I'm in a position to help someone out now with advice and financially. I'm assuming since you've gone through the programmes that you have the business plan and model in place? Can have a further chat with you if you are interested?

    Chris.

    Hi Chris,

    Thanks for the reply! That sounds very interesting...if it suits you can pm me your email and we can have a chat there? Easier going back and forth etc!

    Regards


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