Navigating the tough terrain of startup funding: the MVP dilemma

Currently at mid-mvp stage fintech startup looking for pre-seed funding to resume their progress. Does this qualify the requirements to achieve a pre-seed funding ? I bootstrapped the startup myself at the beginning and we have not yet reached the stage where we can present a MVP for investors which is a huge setback we are currently facing. I tried to apply to few Indian based pre-seed ventures but all I got was just rejection mails not sure why. Prepared a pitch deck and a company structure profile although all our employees are remote. I just don't know who or how to approach an angel investor or a ventures firm so lacking expertise in this field. Suggestions would be appreciated ☺️

Acquiring funding for a startup in india has become a hassle. I myself have been doing research on seed funding Vc's and angel investors. All they ask is pitch deck and LinkedIn profile. Which they don't even go through and just reply with an email saying we are not eligible for funding. On the other side US and other countries are getting funding at the ideation stage. I guess we can't even go for crowdfunding. Started building MVP, but halfway through the hurdle and unable to resume the development due to limited resources.

Hey, I think I have a decent (tech) idea with good product market fit and got it validated from few people in its industry. I’ve started working on an MVP with the team, and we think we can develop it in a month. What should we do apart from it, we want to get funding as soon as the mvp is made. What all should I know, any resources, what registration and everything else.

Hey everyone, We've got an exciting journey ahead, and we're at a crossroads. Our AI startup is all set to take off, but we're fighting with an important question: should we seek funding for our startup ? Here's the scoop: Our team is hard at work on a game-changing problem-solving service platform. Right now, we've got the skills to create the entire product, but most of us are Python enthusiasts, and we could use some extra hands with diverse talents to take our venture to the next level, which do require funding. The story behind our decision to dive into the startup world is the success of our previous project. It gained some impressive traction, fueling our desire to turn it into a startup. But there's a hurdle on the horizon - funding. And also the investment landscape is in a bit of a winter chill right now. And we don't know much about the process of funding 😕. feel free to drop your advice in the comments below.

I had an argument with an investor/founder yesterday, and he went on a rant about the quick MVP ideology. Many entrepreneurs and product managers believe that launching a product quickly with a barebones minimum viable product (MVP) is the key to success. However, I think that in 2023, this approach is outdated and ineffective. A minimal viable product (MVP) with barebones features is designed to be used by early adopters, providing essential functionalities to test the product concept and gather market feedback quickly. However, I disagree with this approach. I believe that in 2023, a barebones MVP falls short. Here are two reasons why: Customers are concerned about the app's look and feel. If you are enhancing an existing product, you must deliver a superior user experience compared to your competitors. A barebones MVP may not meet customer expectations and preferences, potentially creating a negative impression that drives them away. Early traction does not guarantee product-market fit. While a barebones MVP may attract initial users, it doesn't ensure that they will remain or pay for your product. Relying on early success may provide a false sense of validation and confidence in your product's efficacy, potentially causing you to overlook the genuine problems or needs of your customers. In conclusion, a barebones MVP is not enough in 2023. If you want to build a successful product, you need to build a polished product that delivers value and delight to your customers. This is not easy, but it is worth it.

Do VCs also have this underdog spirit? The early-stage VC, take a lot of risk in investing at a pre-revenue startup. How do they scout such founders? What are the key attributes they look for in the early-stage team, which are pre-revenue and have an MVP?

Currently I’m in the stage of building the MVP of my idea. Idea is not something unique. Already has a lot of competitors. In that scenario what is the chance of somebody investing in my startup. And I am also not from any tier 1 colleges or not an ex employee of any unicorn startups. In fact I am a college drop out from a tier 3 college. What is chance of I’m getting funding?