We are in a exciting business of powering web startup companies. Given the fact that most web startups are about certain idea/product/service that is implemented online it turns out we support a critical part of our customers’ business. Being in the web development outsourcing business since 2001 we’ve accumulated great knowledge about the majority of online industries. We have perfect understanding of online business and solid development/animation/online marketing talents in place. With this said we are fully equipped to be a development partner/active member of online ventures.
In June 2008 we officially launched Early Stage Startups Funding program which provides the opportunity to startups to use our services in exchange for equity in the company. Typically we are talking about $$5,000-25,000 worth of our services in exchange for 5-15% of the company. Ideally we would prefer to know the CEO or other management folks or at least have the ability to track the previous accomplishments and success as well as share the vision. In addition to that we need to understand the business concept, see the business plan and all other supportive documents (no formal requirements to these documents).
The number of companies accepted into this program is limited for many reasons (resources availability, industries of an interest etc). We do not do any marketing for this program and already have strong demand from entrepreneurs that have a proven track record. So if at any given point of time we are not available to work in exchange for equity we are still happy to provide our services on a regular customer/vendor basis (this is still the core business of MoveYourWeb).
Update: MYW acts as a vendor according to the terms of this program. The management of a startup is doing the actual management of the company and business development. We do not interfere with that. However MYW has separate internal funding program when employee’s idea can be developed into a startup. Typically the employee will not be able to act as a true CEO of the new business so MYW allows to utilize the existing infrastructure and is helping/taking care of all administrative/business/legal/business development/marketing/sales matters.
Tags: funding, startup companies, startups, web startups
Posted in management, outsourcing | 5 Comments »
