On Thu, Feb 12, 2009 at 12:15 PM, Elias Bizannes <elias.bizan...@gmail.com> wrote: > Legal and finance can be taken care of by my old man and myself > respectively. > I'll put $500 to be an investor and help you find another 48. > Three questions: > 1) What proportion of the equity do the investors put in and how much is > retained by the founders? I think this would have to be decided based on the startup. I'm reckoning 10 per cent would be your starting point but if there is a company that reckons they're valued at more than that, you don't want to rule them out because you're sticking to 10 per cent. So you'd draw a consensus and then make an offer > 2) What will be the selection process? Would need to be banged out > 3) Any special conditions (ie, brand new startup, investors cannot be > funded?) I'd suggest the only condition should be there are no other investors in the company other than the founders and that it is early stage > > Elias Bizannes > http://liako.biz > > > On Thu, Feb 12, 2009 at 12:04 PM, Phil Sim <philip...@gmail.com> wrote: >> >> NEW PROPOSAL: >> >> Silicon Beach Startup Syndicate >> >> 50 shares @ $500 = $25,000 >> Invested in 1 startup >> >> We invite any startup to apply >> We have a meetup to let a shortlist present >> We select a startup >> We set up a mail group/blog/facebook group whatever to keep everyone >> in touch with progress and to provide feedback/mentoring to the >> startup >> Within the community/syndicate we organise some free/cheap services >> like hosting/design/marketing/etc to further assist the startup >> We have quarterly meetups to hear progress from startup, network and >> have a few drinks >> >> I think a lot of us tend to think too big. Realistically to get >> something off the ground we need to start small and take a first step. >> So lets start with one startup, keep the number of investors under 50 >> to overcome that ASIC rule. And we should almost just about get 50 off >> the list + direct contacts. Pretty much, all we need is someone to >> agree to contribute the legals/finance aspect and I can't see any >> reason we can't push this ahead pretty quickly. >> >> What do you's reckon? >> >> > > > > >
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