Venturing for Capital

Week of 2/1 - 2/7

This week, I shifted gears a little bit and went back to focusing on my startup from iStart valley that I mentioned many blogs back. Our team usually meets up on Sunday every week and we discuss what our next steps are in making our idea a reality. To give you a recap' we won the iStart Valley final pitch deck competition and got a $500 dollar reward for winning first place. Now the biggest question we asked ourselves is "Where do we go from here?"

There are plenty of steps that we need to take and a long road that awaits us. But, in order to venture down this long road we need one fundamental thing every business needs, money. As of now, money and funding is our biggest setback because we are still high schoolers who either don't have jobs or are getting minimum wage salary. It would take forever to get adequate funding for our startup. Another option was getting a loan from the bank but, what bank would trust a bunch of high schoolers with hundreds and thousands of dollars? After a lot of discussion and brainstorming, we came to the conclusion that we needed a Venture Capitalist or investor to help fund our startup. However, doing this would reveal our idea and we would become vulnerable to big corporations. Not when Venture capitalists and investors sign an NDA counteract which states that they cannot share any details pertaining to our startup or idea.

In the coming weeks, my team and I will be heavily focused on connecting with Venture capitalists through LinkedIn and other platforms. If we are able to acquire a venture capitalist and get our startup funded, it will allow the gears to turn and progress will slowly be made through time. Having a venture capitalist could possibly change the way we build our startup.