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Tech Cofounder Program
☑ Developing the whole product.
☑ Web, mobile AI and more.
☑ Investing 50% of the money.
☑ Investors and mentors.
Tech Cofounder
If you are looking for a technical cofounder, a tech partner or a technical development team for your startup then search no more! We will become the technical cofounder and our internal team will be responsible for building the whole product from A to Z. We help non-technical entrepreneurs build a successful technical start-up, thereby allowing the start-ups' founders to focus on other key areas, such as refining their products/services, focusing on business development, sales, and other important non-technical aspects.
We also help technical entrepreneurs who don’t have the right team to build the startup.
We provide 50% of the money needed in technical development per equity.
So you will find yourself the technical cofounder and secure half of the money you need.
That is why our unique model is called: co-founding and co-funding.
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Co-founding means that FasterCapital will become a technical co-founder for the startup and will build its products from A-Z.
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Co-funding means that we will also be ready to invest 50% (or in some cases more) of the capital needed and invest in the startup (even from the idea stage).
Of course, acting as a co-founder is not limited only to development but rather to improving on the startup, its market, products, and how we can improve the chances of the startup to be successful and generate income. Unlike other incubators, FasterCapital invests in fewer startups and is ready to commit for a longer period of time and in multiple rounds of funding.
Looking for a technical team to build/improve your product?
FasterCapital becomes your technical cofounder and handles technical development from A to Z.
Fill in the form below to get started.
Why join us?
Technical development with us
Technical development on your own
A fully fledged technical team
Our technical expertise cover a wide range of skill sets and technologies (web development, app development, AI, programming, etc.) and so you will have an all-in-one solution
You will need to work on building your own technical team. Hiring a professional team that can cover all skill sets needed, or finding the right CTO/Technical cofounder need time and are costly.
Technical hardware and devices costs
Working with FasterCapital saves you the costs of the technical tools and devices you will need. We have our own technical department and we provide you with a fully-integrated ready-to-use product.
You will need to allocate part of your capital for computers, gadgets, tools, energy supplies, and a lot of other technical devices. This might be a very costly process especially if you are just starting out.
Your first investor
FasterCapital will cover 50% of the project's costs becoming the first investor in your startup. We assess the costs of the technical development and cover 50% of them which leaves the founder with only 50% to secure through raising capital, personal savings, friend and family, etc.
Starting your project on your own, you will have to cover the whole lot which means more capital to raise. Especially at earlier stages, capital is not easy to raise especially if you are still yet to build your app/website/product.
Money-back Guarantee
Pay only for results achieved!
We will study the opportunity of our collaboration and how FasterCapital can help and then we will list clear time-bound milestones that need to be met. Our team will do its best to deliver the best results in terms of quality, time frames, and offering the best technical and business insights. On the other hand, if the results were not met as planned you can get a refund and pay only for what have been achieved.
Tech Cofounder Benefits
Our Tech cofounder/Tech partner program (named previously incubation program) offers the following services to our start-ups mainly on an equity or co-founding basis.
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Investing
FasterCapital is ready to invest 50% of the funding you need and up to $2M. We might invest more than 50% but never 100%. So FasterCapital will become the first investor in your startup and will act as a cofounder.
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Technical cofounding
Technical development nowadays is more complicated than ever with multiple platforms to be supported and the introduction of clouding, etc. which makes things a little bit complicated for a small team of developers to tackle the challenge on their own. Things would be much more challenging if the founders don’t have the technical knowledge and can’t easily judge the capacity of a technical cofounder or an outsourcing team! FasterCapital comes to the rescue in this case as it is going to be the technical cofounder and will help also in business plans and product refinement. We can help in the development of your tech start-up. We will start from the requirement gathering stage up to the development stage. We can develop web services, websites, and mobile applications. You no longer need to search for a developer for your startup. FasterCapital will become your startup developer and tech partner, saving you the troubles and challenges in getting the development team, follow up with them and ensure they are working according to the plan.
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Develop your Startup
FasterCapital will provide technical development through its internal team. We don’t outsource. Your startup will be using in-sourcing. FasterCapital will provide software developers, designers to develop your startup. Our technical team has more than 200 software developers, engineers, full-stack developers, and designers. Once FasterCapital becomes the technical partner, we will have to come with a full project plan for the development of your startup from A to Z with clear milestones such as:
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Alpha version release: to present to investors, Venture capitalists.
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A beta version release: to show to potential clients and maybe strike B2B partnerships.
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A final version release: to use it to attract users and start generating income.
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Finding your first investor
FasterCapital is willing to be the first investor in your startup and will invest 50% of the money you need in technical development in each round of funding. It will be much easier to raise capital through another investor because the risk is mitigated and any angel investor will feel that the risk is shared with another party. FasterCapital will be ready to invest in your startup for multiple rounds of funding and you can check our startup investment.
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Raise capital for startup
FasterCapital will also feature your startup on its website and help connect you to potential angel investors or Venture capitalists that we have in our network. FasterCapital has also partnered with lot of incubators worldwide and through its partnership, we can provide discounted offers for coworking spaces.
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Find a mentor
FasterCapital will be giving you access to its network of Mentors. FasterCapital will help find the right mentor for you who can save you from making a lot of unnecessary mistakes. If you know mentors who might be interested in joining our network, feel free to share with them.
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Grow your Startup
FasterCapital will help beyond being just a technical partner responsible for software development for your startup. As a technical cofounder, FasterCapital will use its knowledge and expertise in business development, sales, and marketing. FasterCapital’s role as a technical cofounder implies that we have to challenge the written business plan, come with more ideas for monetization, validate the financial forecast, and re-prioritize features of the product development. FasterCapital can also help in growing your startup, opening new markets, strengthen your brand and build a referral network.
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Improve your sales and marketing
FasterCapital has a strong network of more than 2000 Regional Partners, Representatives, and Mentors. FasterCapital can help the startup explore new markets through its network. The network can help find potential clients, buyers or strike strategic partnerships. This service is provided for free to startups that are accepted in the tech cofounder program.
How can you refer entrepreneurs to FasterCapital?
If you have read about this program and you know of a startup (or startups) that might be interested in this program or any of our other programs (four programs: Raise Capital, Grow your Startup, Tech Cofounder or Idea to Product) then we appreciate it if you can introduce them to us. You can join us as an individual (Representatives) or as an organization (Partners).
Please fill either of these forms and we will contact you back. You can check the list of our representatives/regional partners (individuals) or partners (companies) worldwide. In either case, you will be rewarded with equity in the startup(s) accepted that we will be buying back immediately from you (around $10k).
Tech Cofounder Acceptance Criteria
In order to join our tech cofounder program, an entrepreneur should have a concise executive summary, a clear business plan and should be able to pitch their business idea to us in a 10 minutes presentation. The following criteria are required for acceptance in the tech cofounder program:
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Co-Founding Principle: FasterCapital becomes Technical cofounder: The entrepreneur is willing to allow FasterCapital to develop the whole technical product through its internal development team.
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No-Cash principle: Our incubator (co-investor) company will not give entrepreneurs cash funding. Instead, we will provide technical development needed for the startup in exchange of equity.
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Co-Funding principle: We usually invest 50% of the money needed for technical development. The entrepreneur should secure the other 50% either through angel investors, government funds or from savings. We can invest more than 50% but never the full amount.
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Fair equity principle: FasterCapital would like to receive a fair equity for the investment based on a fair valuation of the startup. FasterCapital will be providing 50% of the money needed in technical development. FasterCapital will also provide other free services like market study, feasibility study and other legal services for free! Those services amount to USD 75k - USD 125k per startup! FasterCapital will use its network of more than 2000 representatives, regional partners and mentors (available worldwide) to help sell your product and open new doors for you!
Tech Cofounder Process
Launching an internet start-up is and has always been a challenge. It has become more challenging recently with the introduction of mobile platforms that should be covered. The criteria to launch a tech start-up has become very competitive as end-users expect easier and more intuitive interface. When an entrepreneur approaches us, usually we go through these phases:
1. Submission | A few minutes!
An entrepreneur who is looking to find a technical cofounder to develop their startup has to submit his/her startup (Business plan including a SWOT analysis and a financial study) by filling in a brief form.
2. Initial Review | One to two days
In this short phase, we would like to get to know about the entrepreneurs themselves and their backgrounds. We would be keen to find out about entrepreneurs’ motivations, what inspires them in business, why they are applying to join FasterCapital’s tech cofounder program, whether they understand all of its benefits, how much money they are looking to raise and whether they have the right plan for raising capital. We also discuss the rounds of funding and the equity that they will give to FasterCapital. At this phase, we try to gather information with the founder(s) via email and prepare the startup for the next phase.
3. Initial acceptance and preparing for a call | One to two weeks
After gathering the information, the startup will be reviewed by a jury of 9 people and the startup should get at least six votes to get the initial acceptance. At this stage, the startup is either accepted or rejected. If it is accepted then we will send the entrepreneur a letter of commitment where we commit to investing 50% of the money they need. Entrepreneur can use this letter when they are approaching angel investors and it will help increase their chances of raising the capital. If the startup is initially accepted, we will arrange for a call with the founder(s)/founding team to discuss everything in more detail.
4. Raising capital and planning | Two months to three months
The startup team will have to secure 50% of the costs. Once the startup is close to securing the money needed, more resources from FasterCapital will be dedicated to it. There will be a business team that will be discussing the business plan and monetization strategies with the entrepreneurs. There will also be a technical team who will be assessing the skill sets needed for development and prepare a project plan for development along with clear deliverables. During this phase, we have also to sign the Tech Cofounder agreement. Before this stage, the startup doesn’t need to allocate any equity to FasterCapital nor pay us anything.
5. Execution | Two months to twelve months
After securing all the money and signing the Tech Cofounder agreement, both teams (start-up team and FasterCapital) should work together towards achieving their mutual goal of booting the startup. During this phase, FasterCapital’s technical team will be building the product(s) according to the plan agreed upon. The entrepreneur should be working concurrently and preparing themselves for the alpha or beta releases. An alpha release can be used when pitching to investors; a beta release can be used to attract potential partners. During this time, entrepreneurs should be working closely with FasterCapital’s team to make sure the product is up to their expectation and solve any issues or disagreements that might occur during development. The duration of this period will depend on the project plan that was prepared earlier.
6. Improvement | As long as the start-up is running
After finishing the development, we will continuously work on the start-up to refine and improve it. Once the product is launched, entrepreneur(s) can get feedback from the market and more ideas to improve the product. Our technical team will continuously modify the product to add those features or fix bugs.