Stealing the startup idea
Hey grapes I have an idea for a startup that could generate millions in profits but I was wondering how and ways to approach angel investors, vc's etc for funding? Will they steal my idea and build their own startup?Do I need them to sign an NDA before pitching? Where and How can I contact them for the same?
P.S: I do not know anything about raising funds and a newbie. Looking for help.
Don't want to come off as blunt, but startup "ideas" (including yours) have 0 value. It all comes down to execution.
Now coming to you:
- No, VCs will never sign an NDA. They're not even interested in "stealing" your idea.
- You have a 0.001% chance of raising capital based on the idea alone. This type of funding goes to ex unicorn founders, individuals with 7+ yoe in the domain they're building a startup in, robust teams or have some sort of an MVP that is <2 months to launch.
- In this day and time, focus on building and launching your product. If it's capital intensive, build a visually strong prototype. It's very rare and difficult to raise capital at pre-product/idea stage.
- Where to contact? LinkedIn, their websites (form fill), angel.co etc
Again, focus on the execution, don't get too excited about your idea. Hope this helps
Thanks for the insight. I guess it's just that fear when you are trying something new.
An idea is usually never worth much. Only execution matters. If you sign an NDA before pitching, very likely the good investors aren't going to respond to you.
Ideas are never that unique anymore (everyone thought of food ordering right since 2000s). The insight is sometimes unique (Swiggy's insight of having full control over delivery, to control experience vs. Tinyowl). The execution is most unique (the way they built their ops and teams out).
I have a startup idea that will generate trillions. See how easy it's to write that sentence? Nobody. Even if they know you. Will give you funding unless you prove your model with some initial effort that isn't just the idea. Nobody will help you connect with the right people either unless you prove yourself
Ideas are dime a dozen. Strategy is 50 cents to the dozen.
Execution is priceless.
Share your idea freely. You may get feedback that helps you refine them.
