I have a static prototype, can I get angel investment?
I have a static prototype for a very promising company. The prototype is not dynamic, just made to show how the site works. I need an investment to actually develop the functionality and get some sales going.
I have a biz plan, market research, all the financials worked out; everything but a dynamic site. Now, what I'm wondering is if there is any hope for me getting angel or VC investment with no 'launchable' prototype or traction.
Launch Venture Capital Angel Investment Prototype
2 Answers
Have you tried talking some angel investors about your idea? Do you have a network of them yet?
I have invested in ideas where there was no code before (successfully and unsuccessfully). It all depends on the people (people first!) and the idea. But if you don't have a network of people to reach out to your first step is to build that network.
Here in Seattle there are startup focused meet-ups that happen regularly (e.g. Lean Startup Seattle). These types of events are a great way to meet people and build that network. Stand up and say "I've got a great idea and am looking for angel investment. Find me and give me 10 minutes of your time!"
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I haven't talked to any angels - I probably should, eh? So #1 priority is to build the network, ok. What if I have a killer idea / team and go to an investor without any prior networking. That's great help - thanks! – Dawson Whitfield 12 years ago
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You have NOTHING to lose by going to investors and asking them for their thoughts on your idea. Worst case is they don't give you their time. You might want to check out AngelList (http://angel.co) too. – Tig 12 years ago
From the information you have given, there is no way to say. If your idea is really great and intuitively 'sticks', if the opportunity looks very profitable, if your team impresses -- then maybe you might get funding on a GUI mockup alone.
So yes, there is hope as you say. But it would be far easier if you also had good traction to show.
BTW, I have been recommending "The Anatomy of a Fundable Startup" by Naval a lot lately. It's a very good primer IMHO.
