any success stories yet?
HackFwd
21–30 of 62 posts
Re: HackFwd
#22Disclaimer: 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…
Very interesting. It seems to me like this approach responds to some of the points people have made about potential entrepreneurs who don't fit YC's profile.
Re: HackFwd
#23[deleted]
Re: HackFwd
#24I am the founder of a HackFwd backed Company, but we just started this month. Of course its not cheap for founders with a good prototype, but the landscape in Europe is very different from the US. You dont have a lot of Angel Investing in Europe and VCs often only start at 500K EURs...so they are really filling a gap here, which is pre-seed/seed funding. Besides the money you get to know some of europes best and most…
what is your startup?
Re: HackFwd
#25At least in France, where I help organize the Founder Institute, we have plenty of angels, who will invest as little as 25K€.
The difference with the US is that culturally, money and success is not as accepted as in Silicon Valley, so angels tend to hide. They don't put themselves up front and center as much as in Silicon Valley, but they are around to be found.
Re: HackFwd
#26I am the founder of a HackFwd backed Company, but we just started this month. Of course its not cheap for founders with a good prototype, but the landscape in Europe is very different from the US. You dont have a lot of Angel Investing in Europe and VCs often only start at 500K EURs...so they are really filling a gap here, which is pre-seed/seed funding. Besides the money you get to know some of europes best and most…
what is your startup?
its Reign of Steel
Re: HackFwd
#27I am another (UK based referrer) and I was attracted to the model which seems innovative. It will not suit everyone but for those who have an idea and want both funding and support it seems like an interesting approach.
All of the referrers are on the look out for projects but also welcome contact from those with the right sorts of ideas at the right stages of development.
Re: HackFwd
#28A friend of mine just signed on as one of their referrers. It seems like a cushy big VC. They fly the referrers out to expensive resorts a few times a year and in exchange the referrers give HF a heads up on all the cool people and projects they know about. The goal seems to be providing a framework for people who wouldn't otherwise do a startup. I can't leave my family, I need a salary, I'm just afraid, I'm not moti…
i wouldnt generalize it like that. It doesnt really matter to them if you have a startup already or still a job and a prototype. The important part is that you have already built something to show and are passionate about it. They also form regular companies and they dont tell you how to spend your money or anything like that. They have very good financial advisers that develop a budget with you upfront and then its the job of the CEO of that startup to make it work. The companies are real startups, they just help you alot setting everything up, but in a very transparent way.
And in regards to "they fund people who MIGHT produce something that is successfull"...isnt that how any VC or Investing company works ? Even YC works like that, its just that their risk and money involvement is much smaller.
Re: HackFwd
#29Thanks all for this fruitful discussion, making this a top story on hackernews. Europe is very different to the US, we wanted to create an secure environment to help geeks to start their own companies. Compared to the US, in europe investment in super early tech is very rare.
Please judge us by our output, we are committed to create with HackFwd a new way of starting tech companies in europe.
Please check out our companies: http://hackfwd.com/companies or see who is involved: http://hackfwd.com/map Or take a look at our investment contract: http://bit.ly/hfcontract
Re: HackFwd
#30"We take 27%" Ouch.
First time founders that are considering funding should be more concerned about the people involved, the terms, and the impact on operations than the specific amount of equity.
Edit: for clarification, care about equity, sure, but whether you're giving away 10%, 20%, 30% of your company is much less important in the beginning than the other things I mention.