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.