Hi everyone, first time founder here of a tech startup that has around $1m in pre-seed funding. I have funding but I don’t have a good idea that I’m also excited to work on. I know what general area I want to work in, but I just don’t know what problems are out there.
Would it be a faux pas if I go to conferences in this space and try to meet people and tell them that I have funding and want to potentially start something together? I’m technical (AI research/engineering) and want to work in the ocean tech space which I don’t have any experience in.
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Most cities have a start up community. I would find yours on LinkedIn and start showing up to meet ups. Don’t say anything about your access to capital. When you meet the right person with the right project, approach them.
Go and network by all means, it’s probably best to not mention the fund and just keep your ears open.
That fund should be enough runway for a team of up to 5 people for up to 2 years. So that’s what you are getting into basically.
If you are being paid in equity it means you don’t get paid a salary, so it isn’t as great as it seems, unless you have faith you can make a profitable venture.