Completely out of funding, just before launch. Also, I’m being kicked out of my apt, totally broke

Built and developed my company over the past 18 months on 10k in funding from a startup incubator/accelerator. Spent 5k or so of my own in the 1st 6 months, had a family member lend me another $3,500. Raised an additional 5k by brining on a co-founder and selling 210 Shares of stock. Brought on another, selling 240shares of stock for 5k….he never paid me and is now intentionally dodging me.

Leveraged my security deposit to buy another month at my apt, in hopes the 2nd co-founder would pay, never did. Then pushed for another month pending a bank loan, additional incubator/accelerator funding, or a contract for the site or supplier…nil.

So now, i’m in an extra shit situation, where I could have left with my security deposit and been fine enough, at least probably until this same time. Except now there’s a pissed off property owner and i’m $1,400 in the hole.

Tried to push to get around a catch 22 situation and get a supply contract, which all seemed great, I dont know what happened though, they never signed….the opeartions guy and I communicate weekly and all seems to be just great, but they never sign anything. Pushed for one more month to get a site contract signed for a site which has 1.7MM in grant funding, but the property it’s for is blocked by an environmental cleanup company, who wants as much of it as they can for themselves, which is prohibiting it being any sort of decent offer and is no longer worth the time.

So, now, totally out of funding. Will be having no place to live by next week. What to do?

I think maybe my only option is to give it all up and enlist in the military. Which really sucks because I’ve invested my entire 20’s into this company, and right near launch. Even just having the launch funding, I can easily build the factory and go into production. (it’s a manufacturing company, recycling, clean-tech). Being in NY you would think there would be lots of funding to launch a clean-tech, manufacturing, recycling, highly-profitable and high-growth, with 23+ immediate direct jobs. But, I’m sure not seeing any of that, maybe it’s all talk, because this company is exactly what the state is asking for.


Any suggestions? I’ve got 1-week

I can maybe move to Manhattan and stay with a friend, who might be accepting of my trying to launch a start-up and get into an accelerator there. Take out some small credit card to get by until I can find some sort of job to cover basic expenses until the accelerator thing happens, if it happens.

Any ideas?! asap

  • Write Fred Wilson at, and if you have something he’ll be straight up about it.

    Don’t whine, all entrepreneurs have the same story. FYI, you’re more likely to have your life repo’ed just after you hit it big than before.

    Also, get on AngelsList and contact KimaVentures.

    If you’re going for credit, get it now before your butt is on a friend’s couch.

  • The time to start a clean tech company was in 2009 when the govt was throwing free money into this space.

    You say you invested your entire 20’s into this company yet you say its 18 months old?

    Look if this is your first big idea, maybe its not the right one. We all fall in love with our first big idea and stick with it long after its clear its not viable.

  • None of your hopes are a guarantee. The only guarantee is your friends couch, for another week.

    Liquidate and take your ass on a vacation.

    You’ll figure out something when you’re not trying to save something that’s dying.

  • Before you go into business –there has to be a demand for the widget or product.

    “lesson #1 to all of you ” !

    Or you can convince someone they need your widget or product…

  • If everything is finished and now it is time to lunch, just put it on hold, get a job and wait for the right person to come along and help you.

  • Military is not the “get away from it all” answer. Having large debts will hinder your enlistment, affecting your security clearance and if bad enough might get you kicked out if they sign you at all. Military pay is also nothing to write home about. I saw it many times in the Air Force.

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