Will a VC give me seed money even if my idea is not unique but viable?
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I want to start a small local business. There is nothing unique or innovative about it, but there is enough demand in the market. I have no college education. Will VC still consider me?
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You should put this as an answer Tim. I realize it's not a direct answer to the question but I reckon it is the correct one. – John Plummer 13 years ago
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What kind of "small local business"? Do you mean a startup, or an actual small business like a dry cleaner or flower shop? – Alphadogg 13 years ago
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This is the perfect profile for a community-sourced or crowdfunding play. VC want a really big market opportunity. – Joseph Barisonzi 12 years ago
3 Answers
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I doubt VCs will consider "a small local business". That is not the kind of return they are looking for. The other things you mention are not as important as that issue.
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VCs typically look at the chance of a high enough return. Unique is not normally by itself a qualifier. Infact if its unique most VCs will be skeptical of it unless you have something proving a viable market for this new thing.
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Please provide more information.
- What type of business do you have in mind?
- How much seed money do you need?
- What would be the size of your start-up in terms number of employees and geographical area covered?
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USUALLY VC's invest in only those startups that have been successfully running for quite sometime on a smaller level. You will need to show them elaborate business plans and statistics. You will also need an impressive team if you wanna get funded by VCs. Since you just have an IDEA and no established business, what you need is an ANGEL INVESTOR. try googling the term. – Prateek Mishra 13 years ago
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