.-F.: You need a better website
-JusA: Certainly. Any ideas how to produce this (with whom or with which tools)?
-F. Standardized terms. I don't think you should have 10-300k for 5-10%. I think it should be standard terms. Check how YC does it. (ycombinator.com)
-JusA: There should be couple of classes (e.g. 30k for 10% for a business plan + demo, 100k for 10% for a prototype and evidence on customer traction, and 300k for 10% for company already generating growing revenues). The question in this model is then, what to do if investors do not produce sufficient amount of money to meet the need for a round? Should we lower the valuation, lower the percentage, or have "free investment money" to fill in the gap?
-Kotis: Experience tells that investments below 10% are worth nothing so make it the lower limit
-JusA: Agreed. At least the first round should be 10% or more
-F.: Mass coaching for entrepreneurs should be part of the packet
-JusA: There are plenty of organizations offering different type of training, coaching and mentoring, what is wrong with them?
-F: Check http://www.xconomy.com/national/2009/07/22/startup-school-the-xconomy-guide-to-venture-incubators-2009-edition/; http://www.techcrunch.com/2009/03/08/angelsoft-lets-startups-find-fund; and http://www.techcrunch.com/2006/11/01/charles-river-ventures-goes-for-angel-market/.
-JP: MikroVC seems like a good concept. Meets the needs that, e.g. some of my acquaintances have had. I hope that the plan becomes reality!
-JusA: We have nominated the concept Open, because our primary objective is to create that this kind of a financing instrument to Finland. It does not matter, who does it. So we invite everyone interested to join our team.
If you have questions or comments, please send them to JusA.