Funding...
About two weeks ago, I got an email from a potential investor in the area, who's shaping up to be a decent mentor in some areas as well. We got together over lunch and discussed what he thought about our business venture, and what the technology could and could not be applied too.Seems he thinks he can get a group of guys together, probably around 6 of them, who could each give us about $50,000 in exchange for some equity. He's ensuring me that these investors will likely not want any handholding (out of the ordinary), and can afford to lose some money for some time (ie, not looking for returns any time soon). A local angel investor group! And a real one! They're not wanting 70% of my company for $30,000!!!
So, now I just need to plot our musings / change of direction down on a piece of paper, and chart out the "newer" business plan so I can make another presentation.
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