First-time founder in a small town. I'm worried I won't be able to make the leap from raising $25k-$50k checks from angels (which I'm pretty good at) to raising $3M all at once from seed/micro VCs. Everything is taking so much longer than I thought.

You’re right to be worried. If there’s any chance of getting your business to profitability purely on angel money try that. If you don’t have the right connections raising millions is hell. In that case just keep working on your warm intros, keep improving your deck, and don’t give up after the first dozen rejections.

I am in the same trouble!!!

I am ready to start with 30.000€ from an angel investor who is ready to give it to me for the begging (research costs, etc) but after that I need around 2M to make the company profitable because its involve production costs. And I worry that I will have the same problems to find the money with the result to destroy my timetable that I have in the business plan.

Also I will like to ask for how long are you trying to raise the money from VCs? And what the Angels say about that delay (if is any)?

Raising from VCs is a waste of time unless you have real strong traction like 100K$ ARR (or other means to show very strong traction)

If you’re raising for real. Raise for real. Block the next 6 months on your agenda, and contact 50 VCs per 500k$ you’re trying to raise. Prepare for 49 rejections.

Actually meeting 50 peoples takes a lot of time. Finding warm intros, getting them, moving on to the actual meeting etc… So your fundraising process will take 6 months, no matter what.

Non VC options are super angel rounds (can you get four times as many angel checks in next round) for the other guy look into horizon 2020 and you may want to give the irish high potential start up unit a line. You have to move to Ireland but they are setup for this kind of thing. Other EU countries have other options. Might have to double your raise to get the thing going.

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