Hi I'm 25 and never been involved in business before. I am a researcher into longevity and digital immortality and I would like to start a company for digital legacies - a kind of "make your own autobiography" software to store people's thoughts and memories online. What realistic progress do I need to have made before I can raise any money towards this project?
Absolutely not possible.
The only stories you have ever heard about a "paper idea" getting funded were stories where the founder had already made millions of $ for investors, and/or invested their own money.
There are literally thousands of startups trying to do things very similar to what you describe, and the only way to raise capital is to prove substantial traction (say, 100k paying users or 1M free).
With all due respect to the other folks who answered this question, in my experience it's totally unseasonal to suggest that a well-written business plan for such a startup would raise investment capital, except perhaps from a totally uninformed novice investor. It's about progress and proof, not about a pitch.
Answered 9 years ago
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