Startup freshmen usually have a very romantic vision about their future. They can see themselves with empty pockets, pitching their great idea in front of a big investor who will be so amazed he will momentarily hand over a blank cheque and they all live happily ever after. There is just a little problem with the idea, the pitch and the money in this story.
Unfortunately, most startups today can be launched with zero costs. Programming software and launching the test version can be done from your home without a CEO salary. Of course, hardware prototyping or projects from the field of nanotechnology are a different category. But they all have one in common – the future investor wants to see/feel/touch a project that is real and has a potential to succeed.
But first you would have to get to the investor and catch his attention. It’s easy to replay your awesome speech in your head. But if you don’t really know what you are doing, you will lose the attention of the old guns quickly.
Then there is another small catch – what are you willing to give up for the money? Or did you think it’s that easy? No sweetheart, you can lose shares, ownership, or the right to make decisions…
Did we just discourage you from running your own startup? Here is a simple cure. Don’t go in there blindfolded, keep swimming with the current first and take notes. Hang out with the startup crowd, find yourself a mentor, go to competitions and investors’ meetings. And if you still feel lost in the ocean, find yourself a bigger friend.
One of the global top four auditing and consulting companies established its Startup Studio right here in Kosice. The company KPMG has connections and position in the market that enables them to seek talent and act as a bridge to new partnership. They help the startups to communicate their goals, give legal advice and schedule meetings on neutral grounds.
You probably ask ‘where is the catch in this’? No catch. Of course they want their percentage, but only after you have filed for success. It’s up to you to decide what big fish you will swim with. We from Startup Weekend Kosice are happy to have KPMG on our side once more.
Written By: Dorota Liptáková