I'm in. 47 to go Elias :) So if we keep the number of investors under 50, does that mean that we can do a round of another 50 for a second start-up once this first round is 'settled'?
Rai 2009/2/12 Elias Bizannes <elias.bizan...@gmail.com> > Legal and finance can be taken care of by my old man and myself > respectively. > I'll put $500 to be an investor and help you find another 48. > > Three questions: > 1) What proportion of the equity do the investors put in and how much is > retained by the founders? > 2) What will be the selection process? > 3) Any special conditions (ie, brand new startup, investors cannot be > funded?) > > > Elias Bizannes > http://liako.biz > > > On Thu, Feb 12, 2009 at 12:04 PM, Phil Sim <philip...@gmail.com> wrote: > >> >> NEW PROPOSAL: >> >> Silicon Beach Startup Syndicate >> >> 50 shares @ $500 = $25,000 >> Invested in 1 startup >> >> We invite any startup to apply >> We have a meetup to let a shortlist present >> We select a startup >> We set up a mail group/blog/facebook group whatever to keep everyone >> in touch with progress and to provide feedback/mentoring to the >> startup >> Within the community/syndicate we organise some free/cheap services >> like hosting/design/marketing/etc to further assist the startup >> We have quarterly meetups to hear progress from startup, network and >> have a few drinks >> >> I think a lot of us tend to think too big. Realistically to get >> something off the ground we need to start small and take a first step. >> So lets start with one startup, keep the number of investors under 50 >> to overcome that ASIC rule. And we should almost just about get 50 off >> the list + direct contacts. Pretty much, all we need is someone to >> agree to contribute the legals/finance aspect and I can't see any >> reason we can't push this ahead pretty quickly. >> >> What do you's reckon? >> >> >> > > > > --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Silicon Beach Australia mailing list. No lurkers! It is expected that you introduce yourself: http://groups.google.com/group/silicon-beach-australia/browse_thread/thread/99938a0fbc691eeb To post to this group, send email to silicon-beach-australia@googlegroups.com To unsubscribe from this group, send email to silicon-beach-australia+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en -~----------~----~----~----~------~----~------~--~---
