Funding is scaling fuel. VCs invest in companies who have something big to prove and governments invest for the same reason, to back winners.
NIAMH BUSHNELLDUBLIN COMMISSIONER FOR STARTUPS
Getting the right investors is critical. Do everything you can to get to know investors before agreeing to investment, ideally they should add value in addition to the capital...
MICHAEL BIRCHBEBO FOUNDER
With 100k you’d expect to see the product getting traction be it beta testers or elsewhere. Another aspect to consider is that most technology startups will have a CTO co-founder, this should help keep saving costs low too.
WILLIAM MC QUILLANVENTURE CAPITALIST
‘This amount should be enough to build a "minimal viable product" - depending on what it is of course. That could be enough to prove the concept and build interest amongst investors for follow on funding, but is rarely enough to last beyond that stage.’
MIKE BUTCHEREDITOR TECH CRUNCH
If your product requires advertising or salespeople to sell it, it’s not good enough: technology is primarily about product development, not distribution.
PETER THIELPAYPAL FOUNDER - AUTHOR ZERO TO ONE
This book delivers completely new and refreshing ideas on how to create value in the world.
MARK ZUCKERBERGFACEBOOK FOUNDER