How Much Equity Should You Offer Your Startup’s Advisors?

How Much Equity Do Startup Advisors Get? If you are creating a startup, you need to bring in a group of advisors in addition to your founders. And need to be aware of how much equity do startup advisors get? These advisers should be able to introduce you to potential customers, partners, and investors. The question is, how do you compensate them? How much equity should you give to them? That depends on which stage your project has reached and how much value they are bringing to the table. Many of the considerations discussed here may need to be adjusted […] Read More

What is Wrong with Incubators and Why We Are Starting a New One?

When Bill Gross created Idealabin 1996, during the early days of the internet boom, startup incubators were a fairly unique concept. Incubators differ from research and tech parks. Incubators are strictly dedicated to startups. Most tech parks do not offer any business assistance services. Business incubation has jump-started our economy in many cases. Now accelerators and incubators have multiplied and are found all over the world. In the most recent count, it was determined that there are more than 6000 accelerators and incubators out there. In theory, they do a great job. In our local market, 1871 is a thriving […] Read More

The Best Books for Entrepreneurs

We live in a world of rapid growth and continuous innovation. Depending on what side of the fence you stand on – this can be a good or bad thing. However, for today’s entrepreneurs, there’s one indisputable fact. Self-education and lifelong learning are absolutely essential to success in the new economy. Abraham Lincoln once famously declared, “All I have learned, I learned from books.” If you want to stay ahead of the curve and grow in mind and in practice – do it the old-fashioned way and download these ebooks onto your Kindle cloud as soon as possible. Here are […] Read More

How NOT to Find a Technical Cofounder?

Originally published by BuiltinChicago I have been a techie for most of my life and cofounded multiple startups with varying levels of success. I had conversations with a number of teams and individuals over the last year, for partnering to create something great. After meeting with quite a few early-stage startups and cofounders, I thought it would be helpful if I were to document some helpful points I’d like to make regarding the experiences and discussions during this process. (These are generic topics that do not reflect on any specific individual or company I have spoken to.) 1. You do not […] Read More

Failed Experiment 1 – Visual Search

We wanted to create a product discovery application. The final idea was to create a mobile application which can take a picture of an item and the applications should give more info about the product including online prices. The main use case was that you are in best buy looking at a new camcorder, buy taking a picture with your smartphone to get reviews, prices, your friends’ opinion in real-time or near real-time. Imagine the use of this same app for a teenager when she is trying to decide on a prom dress. Anyway, our research into visual search did […] Read More