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"I come with funding, you come with the idea"? (alien.top)

submitted 10 months ago by syrenashen@alien.top to c/entrepreneur@indiehackers.space

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Hi everyone, first time founder here of a tech startup that has around $1m in pre-seed funding. I have funding but I don't have a good idea that I'm also excited to work on. I know what general area I want to work in, but I just don't know what problems are out there.

Would it be a faux pas if I go to conferences in this space and try to meet people and tell them that I have funding and want to potentially start something together? I'm technical (AI research/engineering) and want to work in the ocean tech space which I don't have any experience in.

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[–] ComfortableRough1826@alien.top 1 points 10 months ago

I have an idea that would improve society a bit. But you'd have to sign my nondisclosure form as I do not have a patent yet.

[–] BTCbob@alien.top 1 points 10 months ago

This is highly unusual. How did you get $1M with no plan?

[–] mistraced@alien.top 1 points 10 months ago

We're developing an interesting app in the gaming space that also utilises AI as support. If the future of gaming is something you're passionate in, let's chat.

[–] cassiuswright@alien.top 1 points 10 months ago

It's a great way to get scammed out of your money sure. Figure out what you want, go get it. Shopping for ideas while waving a Milli is a way to get taken advantage of immediately

[–] Mikaa7@alien.top 1 points 10 months ago

Bro fr ? Like give me that reason which impressed them to throw away 1M or maybe 1M just dirt cheap for them ? As you stated, You must be looking deep in your field, you got experience in..maybe if not creating a solution, enhancing existed one. Plus ! What's the deadline they expect something from you ? And what motivated you to accept that mil ?

[–] Background-Paper-686@alien.top 1 points 10 months ago

Lol reddit is not letting me DM. Please DM me.

[–] TomFromOpenScreensIT@alien.top 1 points 10 months ago

Go and network by all means, it's probably best to not mention the fund and just keep your ears open.

That fund should be enough runway for a team of up to 5 people for up to 2 years. So that's what you are getting into basically.

If you are being paid in equity it means you don't get paid a salary, so it isn't as great as it seems, unless you have faith you can make a profitable venture.

[–] arkofjoy@alien.top 1 points 10 months ago

Most cities have a start up community. I would find yours on LinkedIn and start showing up to meet ups. Don't say anything about your access to capital. When you meet the right person with the right project, approach them.