Applications are open for TinySeed's Spring 2022 bootstrapped SaaS accelerator programs
Hey everyone, I'm Program Director at TinySeed, an accelerator and fund for bootstrapped SaaS startups: https://tinyseed.com
Applications are open for our Spring 2022 accelerator programs, which includes our brand new Europe-focused accelerator: https://tinyseed.com/latest/applications-open
We also did a video info session yesterday, if you'd like to see how goofy we can get in person: https://tinyseed.com/latest/spring-2022-info-session
If you're working on a SaaS with revenue, we'd love to see your application. Our program/fund is designed for folks who need just enough to help them scale but don't want to jump on the complete VC track.
— Read more about the program here: https://tinyseed.com/program
— We have a pretty amazing set of mentors, including Courtland Allen (wave!) https://tinyseed.com/mentors
I'm here if you have any questions. Hope to see you apply!
PS: If you've applied before and didn't get in, and have grown since your last application, DEFINITELY apply again if you're still interested! Re-applicants with growth are pretty hard to say no to. :)
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Curious, why would you specifically cater to bootstrapped SaaS companies yet take 10-12% equity? It sounds like you want bootstrapped startups, but I'm genuinely interested in how this makes you different than any other accelerator, especially when others like YC do $125k for 7%...
Thanks!
10-12% of a company for ~180K does not sound particularly appealing in a world where founders may be able to raise ~900k to 1mm+ SAFEs in seed rounds such that the overall dilution is still significantly less by the time you raise a Series A.
YC gives 500k for 7%: https://blog.ycombinator.com/ycs-standard-deal/
$125k for 7% "...and now also invest an additional $375,000 on an uncapped safe with an MFN."
Oh that is interesting. So if your start up does very well before raising more (or never raises more), it’s 125k for an amount that rounds to 7%.
If you blow through the whole 500k and are only able to raise at a 2M valuation, then YC owns about a third of the company!
I think economics aren't too bad - YC takes less % but also expects companies to become billion dollar ones that 'change the world'.
I'm assuming (could be wrong) Tinyseed doesn't pressure startups to become enormous hence needs a bigger cut for economics to stack up.
YC doesn’t bully them to, though. Many exit fairly small. WuFoo talked about doing that in one of their videos.
Yes, that seems to be the set up. I like the approach. Single founder salary capped at $250k and they take a percentage of dividends paid out over that amount. Calmer, profitable companies that don’t have to explode.
This is my biggest question about TinySeed. We have looked at alternative funding for StatusGator and TinySeed bills itself as such among the ranks of Calm Fund. But upon inspection, it appears much different financially. Different in that it’s the same as any other seed fund.
I guess I’m wondering, what am I missing?
So happy to TS coming to Europe!
Thanks for joining us even though the calls would be at odd hours for you! Proud to be an investor in ScrapingBee. 😁