I agree with most things and that's been the general sentiment in our accelerator, too. However, I don't consider it a waste of time. Pitching is great in a way that it forces you to have a clear vision of what you want to do. And boy, I needed it. Every time I pitched, I got questions I knew I didn't have good answers to. These were the biggest holes in my business plan and pitching alone made me think harder about them.
As for the demo day, we were told early on that it's a big thing, but it's unlikely that we'll be discovered then. I got in touch with a pretty great investor who's kinda interested, but I think they're way out of our league now (series A/B level), so we'll wait. Also, on that day we initiated a B2B deal which just might turn out to be what we need at this stage (we're building a prototype now).
I love the Berlin-SV comparison and your conclusion!
@zura: yes, it's running on Cordova, but we'll move to React Native as soon as we're comfortable with it (we're using React right now, although the iOS version is still on Angular).
Thanks. While I agree for the most part, I do think that raising money is an important validation. Often you hear about a project you wouldn't even consider interesting, but when it's accompanied by "raised X MM from Y", your perception changes.
Also, it's that head-turning thing. They say "we raised X" and you start listening. I had something similar with my downloads count. Honestly, I didn't think 1 million is all that special, but over time I learned I should start most of my pitches with. People just start to listen.
Yeah and I'm not saying it's a bad choice. I just think too many people put so much importance on whether or not a company raised money as a measurement of success. When the reality is many companies can do it on their own, control complete ownership, and still achieve a level of success that many companies that raise money see. It's really just based on where your company is headed and whether or not you're eyeing an exit for your company. If you are looking to sell, be acquired, or go IPO then raising funds makes complete sense.
This app is just an MVP, the future hopefully is much bigger. On of the reasons is "because it's what startups do" and "everybody thinks that's the next step". I do have needs (development, content creation and in-house marketing team), but none of them are a must-have, I can do it a bit slower with whatever means I have at my disposal.
What does "the future hopefully is much bigger" mean for a calculator application? Competition with Wolfram Alpha? Unless you're doing something on that scale, I can't imagine what you mean.
@ohquu: people calculate craploads of things on a daily basis. More often than not they're using calculators that look pretty much the same as those in the 70's. I want to make it easier, faster and more pleasant. I want people to be able to calculate things that right now they can't and aren't willing to learn how to.
"Much bigger" doesn't need to mean we're gonna send people to Mars. Solving even small problems for tens or hundreds of millions of people qualifies as "much bigger" for me.
Yeah, simple percentage, tip & discount calculators are the most used.
Feature request come from markup/profit margin and "trader's" calculator users. And they have more serious needs (and they never want the same thing...).
Asking this question is exactly why they shouldn't take VC money.
Instead of running around trying to find an answer for "how will you be worth a billion dollars?!?!?!!!!" they should be figuring out where their market is.
It's a bit embarasing, but I'm not sure. I released it in June or July and didn't notice it for a long time (wasn't an iOS user). Then we've been working on a complete rewrite for a long time. The new release awaits App Store review.
