Tag: startup

Hey Guys,

So as the title states i found a startup here in Cyprus to invest for a child care system similar to Brightwheel.

Basically the guy who coded the whole child care system in Cyprus is a developer and owns a web development agency for 15 years, i met him through the gym i go to and since then i know him for around 2 months. We had dinners i met his wife and kids so we have a good bond so far. So far the guy seems solid and smart.

He told me he found a gap in the Cyprus market so he created this child care system he has been developing this for 2 years and its not done yet. Iv seen it tested it and it looks pretty damn good very functional and there is no system like this in Cyprus.

So he asked for 60k investment in return of around 35% of equity in the company.

He sended me a partnership agreement that he will invest initially 30k and i will invest 30k. The initial 30k i will invest are not refundable and the next 30k will be invested after 6 months from my side possibly when the system will be done and that will be refundable so a total of 60k.

My role will be a partner in the company and decision maker with him.

Now the question is it really worth it?

Well from my market analysis there is no competition i even called some kindergartens to ask if they would use a system like this and there was a positive reaction.

The transition of this to work he told me i can leave my current job and go there to his current web agency work with him so i will have also an aspect of work with the agency i will have my own office as the system develops and i will get half o a salary from him and half from my own money (the investment money) until the system starts to be profitable.

The goal is to go abroad and make it big.

What do you guys think?