Apply for funding
We love early stage and that means companies that haven't yet put together a deck. With that, we've put together a list of questions that will help us better understand your business. Please answer each question in 120 words or less. Just send a plain text email and don’t edit the questions.
Founders' Co-op typically invests $250K-$750K in the first fundraise of software startups based in the pacific northwest. You can get a sense for the kinds of ideas we like to fund by reading this post.
We don’t make any formal promise about secrecy, but Seattle is a small town, life is long and we don’t gain anything by burning our relationship with smart young entrepreneurs. We don’t plan to let anyone outside Founders' Co-op see these applications, including other startups we fund. Feel free not to tell us secrets, but understand this will weaken your application.
Copy the questions below and send to email@example.com
- Please list your company’s name, URL (if any) and phone number (preferably cell). What does your company do?
- What’s new about what you’re doing?
- What do you understand about your business that other companies don’t?
- How will you acquire customers?
- How will you make money?
- Who are your competitors, and who might become competitors?
- If your project is software, what development stack will you use?
- If you’ve already started working on it, how long have you been at it?
- If you have an online demo, what’s the URL?
- How long will it take before you have a prototype? A beta? A version you can charge for?
- Why would your idea be hard for someone else to duplicate?
- What are the biggest unknowns or risks in your idea (what keeps you up at night)?
- For each founder, please list: name, linkedin, email address, personal URL (if any); and present employer and title (if any)
- What products or companies have any of you built before? (Include URLs if possible)
- How long have the founders known one another and how did you meet?
- If you’re already incorporated, when were you? Who are the shareholders and what percent does each own?
- If you’ve previously received funding, how much did you take and at what valuation(s)?
- If you’re not incorporated yet, please list the percent of the company you plan to give each founder, and to anyone else (advisors, etc.).
- If you expect to have any major expenses beyond salary, hosting and development tools, what will they be?
- How long do you expect to work on this idea?
- Do any founders have other commitments for the next 12 months?
- Are any of the founders covered by noncompetes or intellectual property agreements that overlap with your project?
- Was any of your code written by someone who is not one of your founders? If so, do you have the right to use it? (Open source is OK)
- Please share one personal fact about each founder that helps us understand who you are as a person.