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Seeking advice from non-tech solo founders on fundraising

There is no dearth of literature highlighting the importance of having a tech founder on the core team for building a digital solution.

What's often left undiscussed are the challenges of finding a suitable tech partner when you're starting out as a non-tech person.

So, this post is to gather experiences from people who find themselves at the shorter end of the stick (in a way) - the non-tech founders.

Would love to understand how you found your partners (if you even did, before smelling the cheques) or if you found another way to tackle the anticipated objections during the fundraising stages.

on January 9, 2022
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    Speaking from my angel investing experience and time spent in VC startups and working on numerous fundraising rounds, I can tell you that there are plenty of successful non-tech solofounders and teams out there.

    Some things I learned:

    • If the product is super technical (e.g. AI, ML) you definitely need a tech founder or people will not believe that you can pull this off.
    • If you are doing it solo or are a non-tech founding team, you better have superior skills in marketing, sales, or maybe even an insane network you can easily recruit from. I have seen several very successful (and raising tons of money) non-tech teams because they were exceptionally good at selling the product (or even MVP). Your USP as founder needs to be strong.
    • Non-tech founders need a product that sells easily, and ideally to other non-tech people. If you sell to sales, marketing, HR, finance you have a much higher credibility than if you want to sell to techies & devs.
    • Non-tech teams can outsource the first few iterations of their product to an agency, or get away with a nocode solution. But eventually (after Series A latest in my experience), investors will want to see a CTO and product team added to the team.
    • If you are 2 or more non-tech founders, are you ready to have your shares heavily diluted by tech people that join you later down the road?
    • In your business model and financial projections, are you considering the cost of outsourcing the development and/or later down the road hiring a product team? Your business idea might make sense now, but can you maintain this at a higher price point and higher CLTV? This can kill lots of ideas because your R&D costs go sky high with a hired tech team.
    1. 1

      Thanks for breaking down your experience so eloquently. Helps a ton. :)