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HackFwd

hackfwd.com

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Re: HackFwd

#2

Post by bobds »

Giving up 30% of your company seems like a lot to me but I'm sure there will be plenty of takers. The maximum funding you can get in return is fairly high (at least compared to YC):

91,000 euros - single founder

141,000 euros - two founders

191,000 euros - three founders

Re: HackFwd

#4

Post by stefanobernardi »

Disclaimer: I'm a referrer for HackFwd.

I think it's pretty different. - It doesn't have a public application process. You can only be referred by someone in the network. - It doesn't require you to move anywhere. You can work from your home country/city. - It doesn't have a formal 3 month program with mentorship and dinners. It's a 1+ year stunt, with a quarterly weekend retreat where you get to present your achievements and get tons of feedback and mentorship. - It doesn't give you $15-20k for 6%, but instead matches your annual salary with caps at 90k, 140k and 190 if you are a 1, 2 or 3 person team respectively. HackFwd always gets 27% equity, and you are required to give away 3% to advisors/referrers.

It's a new approach to investing, and very very new having launched just 6 months ago.

Re: HackFwd

#5

Post by ig1 »

Not really, HackFwd involves a much large investment/equity stake/time period. It's closer to traditional angel than YC.

If you're looking for a European equivalent for YC checkout the following: The Difference Engine, StatupBootcamp and Springboard.

Re: HackFwd

#6

Post by pclark »

ig1 wrote: post #5

Not really, HackFwd involves a much large investment/equity stake/time period. It's closer to traditional angel than YC. If you're looking for a European equivalent for YC checkout the following: The Difference Engine, StatupBootcamp and Springboard.

Springboard and The Difference Engine are the same now :)

Seedcamp is another.

Re: HackFwd

#7

Post by shafqat »

ig1 wrote: post #5

Not really, HackFwd involves a much large investment/equity stake/time period. It's closer to traditional angel than YC. If you're looking for a European equivalent for YC checkout the following: The Difference Engine, StatupBootcamp and Springboard.

Seedcamp is probably the closed to YC in Europe.

Re: HackFwd

#8

Post by Vojto »

I heard about them in September, unfortunately you can't just apply you need to know somebody in their network.

Re: HackFwd

#9

Post by atirip »

There's at least 2 things one should consider:

- it's tranched deal - they get 27% up front(!) and invest, in 4 tranches. Some think that's A Very Bad Thing for the founders: http://cdixon.org/2009/08/15/the-problem-with-tranched-vc-in... and http://www.avc.com/a_vc/2009/08/milestone-based-investing.ht...

- after Series A funding the founders are usually guaranteed to be minority stakeholders. Think about that twice.

But, at least they are open about that.

Re: HackFwd

#10

Post by haasted »

stefanobernardi wrote: post #4

Disclaimer: I'm a referrer for HackFwd. I think it's pretty different. - It doesn't have a public application process. You can only be referred by someone in the network. - It doesn't require you to move anywhere. You can work from your home country/city. - It doesn't have a formal 3 month program with mentorship and dinners. It's a 1+ year stunt, with a quarterly weekend retreat where you get to present your achieve…

Accidentally hit the downvote arrow, while intending to do the opposite. Apologies.
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