

Ask YC: Does anyone have any experience with these guys (http://prototypeinvest.com)? - aitoehigie

There is a new kind of VC called prototype invest, and they claim to develop any software or webapp for equity. i will like to know if anyone has done anything with them and how the experience was.
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smoody
Actually,they claim to develop a 'PROTOTYPE,' not a shippable product. There
can be a large chasm between the two.

They way I interpret their service is like this: They build enough of a
prototype to help you get funding. They make no mention of taking you the rest
of the way. Nor do they claim to build 100% of your functionality.

If that's true, then you will end-up walking into a VC/angel office and
showing the prototype. The person across the table will ask you how long it
will take to turn the prototype into a launched product. So, here's the
question: Can the prototype they develop even be turned into a real product or
is it throw-away code only mean to help you raise money? What if they're
writing crappy throw-away code and you know it, can you ask them to improve
their engineering? Probably not because they're writing a prototype.

If you walk into a funding meeting with a prototype but without an engineering
team, your chances of getting funded are pretty slim, IMHO. But, it is
possible that a good prototype can help you attract engineers, so maybe that's
not so bad.

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rms
They've been submitted here a couple times now... I think someone should
submit an idea to them just to see what the process is like, though I'm
guessing they are incredibly selective about ideas.

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ideas101
I'm in touch with them and have requested to add FAQ section on their website
to make us understand how the whole thing works and how much equity they
expect in return to develop, maintain, support and upgrade an application.

