Unrelated to the content of the site, the design is beautiful. Does anyone know who's the designer behind it?
HackFwd
41–50 of 62 posts
Re: HackFwd
#42Hi all, I'm the founder of the first UK company to be invited onto HackFWD and speaking for myself and my two co-founders I can safely say we're absolutely delighted to be on board. Since our first contact with David, the "Talent Geek" we've been treated absolutely fantastically and have been humbled by the level of support received. The join process was very straight forward, fast and informal, which allowed us to r…
Really? My experience with David, the "Talent Geek" was the exact opposite. I recommend avoiding him when dealing with hackfwd.
Re: HackFwd
#43Not 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.
Seedcamp (of late, at least) aims at a much more mature company/idea than YC does. Although there are exceptions.
Re: HackFwd
#44Based on my actual salary? Why not just a fixed amount for everyone? Seems unfair to those who have already reduced their income to a minimum to get started.
Presumably because it's not aimed at those people so much as fledgling entrepreneurs in steady jobs afraid to take that risk.
Re: HackFwd
#45I 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.
How did you become a referrer? Is there any benefit to being one (other than the warm glow of watching an awesome company get funded)?
Re: HackFwd
#46Hi all, I'm the founder of the first UK company to be invited onto HackFWD and speaking for myself and my two co-founders I can safely say we're absolutely delighted to be on board. Since our first contact with David, the "Talent Geek" we've been treated absolutely fantastically and have been humbled by the level of support received. The join process was very straight forward, fast and informal, which allowed us to r…
looks like HackFwd encourages companies to make posts here
Re: HackFwd
#47"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.
This is true, but only to a point, and only when compared with a founder's other alternatives.
Seed-stage fundraising has never favored the entrepreneur more. In this climate, founders can get a higher valuation for their company from a high-quality set of angels, so 'ouch' seems pretty appropriate to me.
Re: HackFwd
#48OK, maybe I'm biased against Europeans, I don't know the landscape, etc. etc. But just compare and contrast their web page with YC's. YC's is succinct, to the point and no-nonsense. It carries the air of someone who doesn't have to prove anything.
A look at this website, though turns you off, with the wannabe photos and titles like X Geek. And trying to get 27% by pushing around the tired notion of "Europe is different" in this age and time, where bootstrapping is so common and many incubators like YC are multinational? That's insane. Wasn't there a post from a YC applicant from Greece on HN just a couple of days ago?
I'm originally from Europe and looking at examples like this makes me really pessimistic. Instead of hiding behind "it's different" excuses, the founders should have made "We're gonna be 10x better than YC" their motto.
And one last thing: Just as all free Google services funnel users to their search where they make money, YC has HN as the breeding ground of ideas and startups. Everybody knows that this is what makes YC so successful. You probably should try to start a similar environment.
Re: HackFwd
#49Giving 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
The formula is:
FundingAmount = €41K + NumFounders * €50K
Re: HackFwd
#50Earlier quoted context omitted.
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.
This is true, but only to a point, and only when compared with a founder's other alternatives. Seed-stage fundraising has never favored the entrepreneur more. In this climate, founders can get a higher valuation for their company from a high-quality set of angels, so 'ouch' seems pretty appropriate to me.
$90k+ for 27% is a higher valuation than most alternatives, particularly the alternatives available in Europe.