I’ve recently been talking to some of the incubators that have sprouted in Manila.
Let me tell you, we’ve come a long way from the “I want 80% of your startup since I’m shouldering all the risk!” we’ve always heard from angels and investors when we tried to raise money before.
If your team is top-notch and your idea is sound, you CAN get funding now for much less equity. Investors are getting to be more sophisticated. Plus I think there are more investors now who were startup founders themselves, so they know they’ll never partner with real entrepreneurs if they insist on majority shares.
I will always, always advocate bootstrapping as much as possible (at least to start), but if your idea direly needs funding, you will find it just a bit easier to raise money now.
So okay, let’s recap:
Funding = easier.
Ideas = a dime a dozen.
Startup support infrastructure = getting better.
So why haven’t we seen an AVALANCHE of startups? What’s the bottleneck?
If I take into account the number of people who are looking for co-founders, the number of people I know who are fence-sitting in corporate waiting for the “right opportunity,” and the same (great) people I see in startup circles and meetups – then the answer is pretty obvious: it’s the lack of people who are willing to take the leap.
C’mon people. You know who you are.
Don’t be like the proverbial torpe who lived the rest of his life wishing he asked the girl out.