What will it take for your tech startup to raise $500k in 2017?

Josh Baer, an angel investor and well known startup community leader in Austin wrote a post about what it’ll take to raise $500k in Austin next year. Every element was on point, in my opinion… but it applies to more than just Austin.

The fact is that fundraising is changing, and it’s not what founders want to hear. Unless you’re in The Valley, or have several successes under your belt, be prepared to “prove it.”

Here are the 5 things you’ll need… no matter where you are:

  • A Team to Believe In
  • >$1 Billion Growing Market
  • Meaningful Customer Traction
  • Social Proof from Key Investors
  • Minimum Viable Product

Here’s one simple thing you can do to get ahead of the curve: read Steve Blank’s The Startup Owner’s Manual: “The Step-by-Step Guide for Building a Great Company.”

Read the full story on Josh’s Medium page.

Michael Sitarzewski

Michael Sitarzewski is the Publisher of Launch DFW, co-founder and CEO of Epic Playground, Inc., makers of inboundgeo. He is a veteran entrepreneur (and a TechStars Cloud alum) with a specific focus on Web-based software and services. Sitarzewski has been a part of the internet startup culture since 1994 and has had two exits along the way. After a seven years in the Boulder, Colorado startup community, Michael returned to Dallas, Texas, in 2013 where he’s focused on growing and increasing the visibility of the burgeoning Dallas startup community. He is the EIR at The DEC, a mentor in the RevTech accelerator, and leads several events in the Dallas area. Sitarzewski considers helping people understand and leverage technology his life's work.