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