technical-cofounder.jpg

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.

  • Co-founding means that FasterCapital will become a technical co-founder for the startup and will build its products from A-Z.

  • 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.

Join the Program

None of the information below will be published or misused.
We respect GDPR rules. Please read our Terms and Conditions and Privacy Policy.

 
Contact Information
arrow&v
Phone & Country Code
arrow&v
arrow&v
Whatsapp: Include Country Code
arrow&v
arrow&v
Company's Info
Capital Needed
FasterCapital invests 50% of the money needed in technical development. FasterCapital will help develop the whole product from A to Z through its own internal Team. FasterCapital will provide that per equity basis.
FasterCapital will invest 50% of the money needed in technical development.
Have you already secured the other 50% of seed funding available with you (from Savings, angel investor or government grant)?*
Check the corresponding box
Supporting Documents
(Pitch deck, video presentation etc.)
Please upload all other documents after compressing them as zip or rar (Business plan, Pitch deck, Financial forecast). Please don't send videos. Max attachment size is 50 Megabytes
Upload File

Thanks for submitting!

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.

  1. 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.

  2. 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.

  3. 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:

    1. Alpha version release: to present to investors, Venture capitalists.

    2. A beta version release: to show to potential clients and maybe strike B2B partnerships.

    3. A final version release: to use it to attract users and start generating income.

  4. 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.

  5. 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.

  6. 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.

  7. 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.

  8. Improve your sales and marketing

    FasterCapital has a strong network of more than 2000 Regional PartnersRepresentatives, 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 CapitalGrow your StartupTech 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:

  1. 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.

  2. 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.

  3. 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.

  4. 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. The 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 who 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.

Tech Cofounder FAQs

Tech Cofounder Program

What do you offer for startups in the Tech Cofounder Program?


In this program, FasterCapital's team will handle technical development fully or partially. We are ready to become your technical cofounder and to be responsible for the whole development of the product from A to Z in case you have no technical team or looking for outsourced product development. We can also work with your team on specific technical modules. We are ready to invest 50% of the money needed in technical development. For example, if you are looking to raise $100k for your technical development then FasterCapital will invest 50% of that which is 50k and you only need to raise the other 50k. We will also help you get connected to investors/mentors who might be interested in supporting your startup.




What are the initial terms to be accepted?


They are highlighted on the website before you do the submission.
1. You should be willing to allow FasterCapital to become the technical cofounder and develop the whole product from A to Z, or continue its development or partially help in the development.
2. To start the development process, the founder needs to secure 50% of the costs. FasterCapital invests 5o% and is willing to offer a letter of commitment to help the entrepreneur in reaching angel investors more easily.
3. The entrepreneur should be willing to provide equity to FasterCapital in exchange for the technical development services it will be providing. FasterCapital will also provide a lot of other free services throughout the program such as market study, feasibility study, market strategy, and other legal services for free! FasterCapital will not be charging the entrepreneur for any of these services because we feel it’s our duty to provide them as a technical cofounder.
4. The entrepreneur doesn’t need to relocate to UAE. We are an online incubator, accelerator, service provider and you can reside anywhere in the world and even keep your daily job until the product is built.




What kind of startups do you accept?


We help startups in all industries as long as they have a technical component.




Will FasterCapital be the owner of the startup?


No. We will not become the owner of the startup nor the technology (hardware/software) as the technology will be owned by the startup itself in which we have shares.




Who owns the source code and the IP (intellectual property) of the startup?


The startup itself. FasterCapital has equity in the startup but the startup will own all source code and all IP from development. The source code can be later moved to another team if this is required.




What happens after getting the initial acceptance?


There are two main scenarios:
1. Either you have already raised the other 50% of the seed fund needed and then we can proceed with the technical development process.
2. Or you don’t have the 50% of the money and you are looking to raise them from angel investors or VCs. In such cases, we provide you with a “Letter of Commitment” that guarantees the money for you over a period of time. This letter is a commitment that the money you want from FasterCapital will be reserved for your project over a period of time (normally less than 3 months). So, in case you were able to raise the money from an angel investor then you will know for sure that the money we promised is already committed to you. Such a letter will significantly increase your chances of raising capital from a funding source.




When will I receive the LoC “Letter of Commitment”?


Once we gather all the information and agree on the amount of money that you want to raise, the amount of money needed for technical development, the equity given to FasterCapital, and discuss a little about how soon you think you can raise the other 50% from angel investors. Usually, once those are clear then your startup will be featured in front of the board and if you are accepted then you will receive a draft of the LoC that you need to fill and sign.




What happens If I get rejected?


You can re-submit. Maybe the information that you sent is not enough or maybe you should think again about the amount of money to be raised and the equity you want to give to FasterCapital. It’s a good chance to read more about the program and to rethink the opportunity. We encourage you to re-submit if you think it makes sense after the review.




In the Letter of Commitment, you mention a period of 3 months as commitment, what happens if I could not raise the money needed during this period?


It depends on how advanced you are in the process itself and how much attraction you have got from investors. If there's progress then you can ask for an extension and we will study it and get back to you.




What resources does your business team provide?


Our business team will restudy the whole business plan and come back with questions/challenges. This service is provided for free during the Tech Cofounder program and can amount to $150k. We provide some market and sales research, we can help through our network. We also provide Legal services but you might still need a dedicated lawyer in case things are complicated. In case you are interested in more comprehensive business development services, check out our growth program; Grow your Startup.




Is the 50% co-funding a must criterion for the Tech Cofounder Program?


50% is the standard requirement. We can accept startups that have 40% in some cases.




If FasterCapital will handle the whole technical development process, what should be available from the entrepreneur?


An innovative idea, a business plan, a financial forecast study, and of course 50% of the funding. The founder(s) will be also responsible for raising funds, marketing, and sales.




After getting initially accepted, when will I move to the next stage? When can we start the technical development process?


We can move forward once you secure the other 50% of the capital needed or got at least a clear positive commitment from an investor.




What technologies is your team familiar with? What aspects of technical development can deal with in the Tech Cofounder program?


You can take a look at technologies that we cover if you check accepted and graduated startups in our Tech Cofounder program (both graduated and those that are incubated now) by taking a look at our portfolio. The technologies covered include PHP, java, nodejs, react, different database types, .net, C#, Python, Android and iOS native applications, and many others.




We already have a technical team. How can FasterCapital help me? Can I still get funding by FasterCapital?


We can work with your already existing technical team on separate modules while covering 50% of the costs that FasterCapital’s team is responsible for. If your product is already built we can help with growing the startup by offering sales and marketing services in our Grow your Startup program while also covering 50% of the costs.




Once the product is done, how do you manage upgrades and enhancements?


As long as we are the tech cofounder, then we will have to do all the upgrades and enhancements. We are always responsible for technical development and product improvement.




Do you provide any other help besides technical help?


Yes, we do. We have a full team of mentors and advisors. In addition, we can connect you with potential co-founders and clients. At a later stage, we can also help introduce your start-up to VCs and angel investors. We also cover 50% of the costs needed for technical development.




What are the biggest advantages of joining your program?


You will have your first investor and you will have a technical cofounder/tech partner or your CTO! We will save you the trouble of finding a professional technical team. We will share the costs of development with you and will continuously support the products/services for any modifications or improvements that might be needed. You will have immediate access to potential investors who are ready to invest in your startup even if your business idea is at an early stage and all you have is a business plan and an executive summary. We are ready to work with you on building your dream technical startup and a presentable MVP product.




Who might join your Tech Cofounder program?


Any entrepreneur who is looking for a technical cofounder or a professional technical team. So if an entrepreneur lacks the technical knowledge or the funding to build the technical component of their start-up, then we will be ready to offer technical development services and 50% of the costs.




FasterCapital contributes 50% of the funding. Is the startup expected to contribute the other 50% of the fund on their own?


The entrepreneurs are expected to secure the other 50% either through their own investment (savings, family or friends) or through an angel investor. Once the startup gets an initial acceptance then we will send them a letter of commitment where we clarify that we will commit 50% of the money they need. Such an agreement can be used when they will later raise money from angel investors (to show that they have been accepted and FasterCapital is committed to invest 50% of the money needed).





Financial Questions

Is there any specific equity you ask for in return for your services?


No, the amount of equity we get in any startup depends on the investment needed and how much funding the startup is ready to contribute, plus the level of effort required from our end. It also depends on the valuation of the company and the stage of the startup. What matters in any offer is that the entrepreneurs should bear in mind that our investment is already 50% of the money needed and that we will take full responsibility for a CTO and do the whole technical development of the startup from A to Z. You can contact us to discuss it.




In the case of funding, how much is the interest rate, and what are the terms (average terms)?


We get equity for our technical development. We don’t do any loans.




Will you pay my team along with your team as they will be working on the tech side as well?


No, we will be investing 50% of the costs for the parts that will be assigned to us as the technical co-founder in your startup.




I don’t know how to evaluate my startup, can you help me with this?


The valuation is something we should come together to. We can't value the business ourselves. If the business has already gone through a big round of funding then we can know the valuation that was earlier.




Can I approach the investors in your network myself, or should they be approached by you?


You can contact them yourself, but we prefer to interfere to give them a thorough idea about our role in your startup.




If I don't have any interested investors, can we start the development, and after the prototype is ready we can start looking for investors?


No, we can’t start the development until you secure the 50% needed from your side.




What about equity dilution, how will that happen?


Our equity will be diluted in the same way that your equity is diluted.




We have two options: either we raise $200k to build a very strong product or we raise initially $100k and build a small version then raise more money for technical development and business, which option do you recommend?


There’s no definitive answer that goes for everybody. It’s clear that the more you are able to raise in your round the more resources you have that can be used for technical development and thus you will have a stronger and more appealing product. At the same time, the higher the amount you want to raise the less is your chance to be able to raise it and the higher is the equity that you have to give up in an early round of funding! So, it all depends on how much you can raise. If you can raise $200k then go for it. Anyway, it’s always better to have two plans to raise the money, i.e. Plan A to raise $100k and Plan B to raise $200k and to be ready for both scenarios.




How many rounds of funding will we need to cover the whole technical development process?


We prefer to have the first round of funding go ONLY for technical development. It is better to focus on one goal in a round of funding and make sure it is fully achieved before jumping to another.




What if I am successful in raising part of the 50% but not the whole amount?


It depends on the amount you were able to secure. If it’s 40% or more then FasterCapital might consider investing the other 60% but never 100%. It’s a case-by-case decision.





Technical Questions

Is there any specific equity you ask for in return for your services?


No, the amount of equity we get in any startup depends on the investment needed and how much funding the startup is ready to contribute, plus the level of effort required from our end. It also depends on the valuation of the company and the stage of the startup. What matters in any offer is that the entrepreneurs should bear in mind that our investment is already 50% of the money needed and that we will take full responsibility for a CTO and do the whole technical development of the startup from A to Z. You can contact us to discuss it.




In the case of funding, how much is the interest rate, and what are the terms (average terms)?


We get equity for our technical development. We don’t do any loans.




Will you pay my team along with your team as they will be working on the tech side as well?


No, we will be investing 50% of the costs for the parts that will be assigned to us as the technical co-founder in your startup.




I don’t know how to evaluate my startup, can you help me with this?


The valuation is something we should come together to. We can't value the business ourselves. If the business has already gone through a big round of funding then we can know the valuation that was earlier.




Can I approach the investors in your network myself, or should they be approached by you?


You can contact them yourself, but we prefer to interfere to give them a thorough idea about our role in your startup.




If I don't have any interested investors, can we start the development, and after the prototype is ready we can start looking for investors?


No, we can’t start the development until you secure the 50% needed from your side.




What about equity dilution, how will that happen?


Our equity will be diluted in the same way that your equity is diluted.




We have two options: either we raise $200k to build a very strong product or we raise initially $100k and build a small version then raise more money for technical development and business, which option do you recommend?


There’s no definitive answer that goes for everybody. It’s clear that the more you are able to raise in your round the more resources you have that can be used for technical development and thus you will have a stronger and more appealing product. At the same time, the higher the amount you want to raise the less is your chance to be able to raise it and the higher is the equity that you have to give up in an early round of funding! So, it all depends on how much you can raise. If you can raise $200k then go for it. Anyway, it’s always better to have two plans to raise the money, i.e. Plan A to raise $100k and Plan B to raise $200k and to be ready for both scenarios.




How many rounds of funding will we need to cover the whole technical development process?


We prefer to have the first round of funding go ONLY for technical development. It is better to focus on one goal in a round of funding and make sure it is fully achieved before jumping to another.




What if I am successful in raising part of the 50% but not the whole amount?


It depends on the amount you were able to secure. If it’s 40% or more then FasterCapital might consider investing the other 60% but never 100%. It’s a case-by-case decision.





Legal Questions

What do you offer for startups in the Tech Cofounder Program?


In this program, FasterCapital's team will handle technical development fully or partially. We are ready to become your technical cofounder and to be responsible for the whole development of the product from A to Z in case you have no technical team or looking for outsourced product development. We can also work with your team on specific technical modules. We are ready to invest 50% of the money needed in technical development. For example, if you are looking to raise $100k for your technical development then FasterCapital will invest 50% of that which is 50k and you only need to raise the other 50k. We will also help you get connected to investors/mentors who might be interested in supporting your startup.




What are the initial terms to be accepted?


They are highlighted on the website before you do the submission.
1. You should be willing to allow FasterCapital to become the technical cofounder and develop the whole product from A to Z, or continue its development or partially help in the development.
2. To start the development process, the founder needs to secure 50% of the costs. FasterCapital invests 5o% and is willing to offer a letter of commitment to help the entrepreneur in reaching angel investors more easily.
3. The entrepreneur should be willing to provide equity to FasterCapital in exchange for the technical development services it will be providing. FasterCapital will also provide a lot of other free services throughout the program such as market study, feasibility study, market strategy, and other legal services for free! FasterCapital will not be charging the entrepreneur for any of these services because we feel it’s our duty to provide them as a technical cofounder.
4. The entrepreneur doesn’t need to relocate to UAE. We are an online incubator, accelerator, service provider and you can reside anywhere in the world and even keep your daily job until the product is built.




What kind of startups do you accept?


We help startups in all industries as long as they have a technical component.




Will FasterCapital be the owner of the startup?


No. We will not become the owner of the startup nor the technology (hardware/software) as the technology will be owned by the startup itself in which we have shares.




Who owns the source code and the IP (intellectual property) of the startup?


The startup itself. FasterCapital has equity in the startup but the startup will own all source code and all IP from development. The source code can be later moved to another team if this is required.




What happens after getting the initial acceptance?


There are two main scenarios:
1. Either you have already raised the other 50% of the seed fund needed and then we can proceed with the technical development process.
2. Or you don’t have the 50% of the money and you are looking to raise them from angel investors or VCs. In such cases, we provide you with a “Letter of Commitment” that guarantees the money for you over a period of time. This letter is a commitment that the money you want from FasterCapital will be reserved for your project over a period of time (normally less than 3 months). So, in case you were able to raise the money from an angel investor then you will know for sure that the money we promised is already committed to you. Such a letter will significantly increase your chances of raising capital from a funding source.




When will I receive the LoC “Letter of Commitment”?


Once we gather all the information and agree on the amount of money that you want to raise, the amount of money needed for technical development, the equity given to FasterCapital, and discuss a little about how soon you think you can raise the other 50% from angel investors. Usually, once those are clear then your startup will be featured in front of the board and if you are accepted then you will receive a draft of the LoC that you need to fill and sign.




What happens If I get rejected?


You can re-submit. Maybe the information that you sent is not enough or maybe you should think again about the amount of money to be raised and the equity you want to give to FasterCapital. It’s a good chance to read more about the program and to rethink the opportunity. We encourage you to re-submit if you think it makes sense after the review.




In the Letter of Commitment, you mention a period of 3 months as commitment, what happens if I could not raise the money needed during this period?


It depends on how advanced you are in the process itself and how much attraction you have got from investors. If there's progress then you can ask for an extension and we will study it and get back to you.




What resources does your business team provide?


Our business team will restudy the whole business plan and come back with questions/challenges. This service is provided for free during the Tech Cofounder program and can amount to $150k. We provide some market and sales research, we can help through our network. We also provide Legal services but you might still need a dedicated lawyer in case things are complicated. In case you are interested in more comprehensive business development services, check out our growth program; Grow your Startup.




Is the 50% co-funding a must criterion for the Tech Cofounder Program?


50% is the standard requirement. We can accept startups that have 40% in some cases.




If FasterCapital will handle the whole technical development process, what should be available from the entrepreneur?


An innovative idea, a business plan, a financial forecast study, and of course 50% of the funding. The founder(s) will be also responsible for raising funds, marketing, and sales.




After getting initially accepted, when will I move to the next stage? When can we start the technical development process?


We can move forward once you secure the other 50% of the capital needed or got at least a clear positive commitment from an investor.




What technologies is your team familiar with? What aspects of technical development can deal with in the Tech Cofounder program?


You can take a look at technologies that we cover if you check accepted and graduated startups in our Tech Cofounder program (both graduated and those that are incubated now) by taking a look at our portfolio. The technologies covered include PHP, java, nodejs, react, different database types, .net, C#, Python, Android and iOS native applications, and many others.




We already have a technical team. How can FasterCapital help me? Can I still get funding by FasterCapital?


We can work with your already existing technical team on separate modules while covering 50% of the costs that FasterCapital’s team is responsible for. If your product is already built we can help with growing the startup by offering sales and marketing services in our Grow your Startup program while also covering 50% of the costs.




Once the product is done, how do you manage upgrades and enhancements?


As long as we are the tech cofounder, then we will have to do all the upgrades and enhancements. We are always responsible for technical development and product improvement.




Do you provide any other help besides technical help?


Yes, we do. We have a full team of mentors and advisors. In addition, we can connect you with potential co-founders and clients. At a later stage, we can also help introduce your start-up to VCs and angel investors. We also cover 50% of the costs needed for technical development.




What are the biggest advantages of joining your program?


You will have your first investor and you will have a technical cofounder/tech partner or your CTO! We will save you the trouble of finding a professional technical team. We will share the costs of development with you and will continuously support the products/services for any modifications or improvements that might be needed. You will have immediate access to potential investors who are ready to invest in your startup even if your business idea is at an early stage and all you have is a business plan and an executive summary. We are ready to work with you on building your dream technical startup and a presentable MVP product.




Who might join your Tech Cofounder program?


Any entrepreneur who is looking for a technical cofounder or a professional technical team. So if an entrepreneur lacks the technical knowledge or the funding to build the technical component of their start-up, then we will be ready to offer technical development services and 50% of the costs.




FasterCapital contributes 50% of the funding. Is the startup expected to contribute the other 50% of the fund on their own?


The entrepreneurs are expected to secure the other 50% either through their own investment (savings, family or friends) or through an angel investor. Once the startup gets an initial acceptance then we will send them a letter of commitment where we clarify that we will commit 50% of the money they need. Such an agreement can be used when they will later raise money from angel investors (to show that they have been accepted and FasterCapital is committed to invest 50% of the money needed).





Questions about the process

What do you offer for startups in the Tech Cofounder Program?


In this program, FasterCapital's team will handle technical development fully or partially. We are ready to become your technical cofounder and to be responsible for the whole development of the product from A to Z in case you have no technical team or looking for outsourced product development. We can also work with your team on specific technical modules. We are ready to invest 50% of the money needed in technical development. For example, if you are looking to raise $100k for your technical development then FasterCapital will invest 50% of that which is 50k and you only need to raise the other 50k. We will also help you get connected to investors/mentors who might be interested in supporting your startup.




What are the initial terms to be accepted?


They are highlighted on the website before you do the submission.
1. You should be willing to allow FasterCapital to become the technical cofounder and develop the whole product from A to Z, or continue its development or partially help in the development.
2. To start the development process, the founder needs to secure 50% of the costs. FasterCapital invests 5o% and is willing to offer a letter of commitment to help the entrepreneur in reaching angel investors more easily.
3. The entrepreneur should be willing to provide equity to FasterCapital in exchange for the technical development services it will be providing. FasterCapital will also provide a lot of other free services throughout the program such as market study, feasibility study, market strategy, and other legal services for free! FasterCapital will not be charging the entrepreneur for any of these services because we feel it’s our duty to provide them as a technical cofounder.
4. The entrepreneur doesn’t need to relocate to UAE. We are an online incubator, accelerator, service provider and you can reside anywhere in the world and even keep your daily job until the product is built.




What kind of startups do you accept?


We help startups in all industries as long as they have a technical component.




Will FasterCapital be the owner of the startup?


No. We will not become the owner of the startup nor the technology (hardware/software) as the technology will be owned by the startup itself in which we have shares.




Who owns the source code and the IP (intellectual property) of the startup?


The startup itself. FasterCapital has equity in the startup but the startup will own all source code and all IP from development. The source code can be later moved to another team if this is required.




What happens after getting the initial acceptance?


There are two main scenarios:
1. Either you have already raised the other 50% of the seed fund needed and then we can proceed with the technical development process.
2. Or you don’t have the 50% of the money and you are looking to raise them from angel investors or VCs. In such cases, we provide you with a “Letter of Commitment” that guarantees the money for you over a period of time. This letter is a commitment that the money you want from FasterCapital will be reserved for your project over a period of time (normally less than 3 months). So, in case you were able to raise the money from an angel investor then you will know for sure that the money we promised is already committed to you. Such a letter will significantly increase your chances of raising capital from a funding source.




When will I receive the LoC “Letter of Commitment”?


Once we gather all the information and agree on the amount of money that you want to raise, the amount of money needed for technical development, the equity given to FasterCapital, and discuss a little about how soon you think you can raise the other 50% from angel investors. Usually, once those are clear then your startup will be featured in front of the board and if you are accepted then you will receive a draft of the LoC that you need to fill and sign.




What happens If I get rejected?


You can re-submit. Maybe the information that you sent is not enough or maybe you should think again about the amount of money to be raised and the equity you want to give to FasterCapital. It’s a good chance to read more about the program and to rethink the opportunity. We encourage you to re-submit if you think it makes sense after the review.




In the Letter of Commitment, you mention a period of 3 months as commitment, what happens if I could not raise the money needed during this period?


It depends on how advanced you are in the process itself and how much attraction you have got from investors. If there's progress then you can ask for an extension and we will study it and get back to you.




What resources does your business team provide?


Our business team will restudy the whole business plan and come back with questions/challenges. This service is provided for free during the Tech Cofounder program and can amount to $150k. We provide some market and sales research, we can help through our network. We also provide Legal services but you might still need a dedicated lawyer in case things are complicated. In case you are interested in more comprehensive business development services, check out our growth program; Grow your Startup.




Is the 50% co-funding a must criterion for the Tech Cofounder Program?


50% is the standard requirement. We can accept startups that have 40% in some cases.




If FasterCapital will handle the whole technical development process, what should be available from the entrepreneur?


An innovative idea, a business plan, a financial forecast study, and of course 50% of the funding. The founder(s) will be also responsible for raising funds, marketing, and sales.




After getting initially accepted, when will I move to the next stage? When can we start the technical development process?


We can move forward once you secure the other 50% of the capital needed or got at least a clear positive commitment from an investor.




What technologies is your team familiar with? What aspects of technical development can deal with in the Tech Cofounder program?


You can take a look at technologies that we cover if you check accepted and graduated startups in our Tech Cofounder program (both graduated and those that are incubated now) by taking a look at our portfolio. The technologies covered include PHP, java, nodejs, react, different database types, .net, C#, Python, Android and iOS native applications, and many others.




We already have a technical team. How can FasterCapital help me? Can I still get funding by FasterCapital?


We can work with your already existing technical team on separate modules while covering 50% of the costs that FasterCapital’s team is responsible for. If your product is already built we can help with growing the startup by offering sales and marketing services in our Grow your Startup program while also covering 50% of the costs.




Once the product is done, how do you manage upgrades and enhancements?


As long as we are the tech cofounder, then we will have to do all the upgrades and enhancements. We are always responsible for technical development and product improvement.




Do you provide any other help besides technical help?


Yes, we do. We have a full team of mentors and advisors. In addition, we can connect you with potential co-founders and clients. At a later stage, we can also help introduce your start-up to VCs and angel investors. We also cover 50% of the costs needed for technical development.




What are the biggest advantages of joining your program?


You will have your first investor and you will have a technical cofounder/tech partner or your CTO! We will save you the trouble of finding a professional technical team. We will share the costs of development with you and will continuously support the products/services for any modifications or improvements that might be needed. You will have immediate access to potential investors who are ready to invest in your startup even if your business idea is at an early stage and all you have is a business plan and an executive summary. We are ready to work with you on building your dream technical startup and a presentable MVP product.




Who might join your Tech Cofounder program?


Any entrepreneur who is looking for a technical cofounder or a professional technical team. So if an entrepreneur lacks the technical knowledge or the funding to build the technical component of their start-up, then we will be ready to offer technical development services and 50% of the costs.




FasterCapital contributes 50% of the funding. Is the startup expected to contribute the other 50% of the fund on their own?


The entrepreneurs are expected to secure the other 50% either through their own investment (savings, family or friends) or through an angel investor. Once the startup gets an initial acceptance then we will send them a letter of commitment where we clarify that we will commit 50% of the money they need. Such an agreement can be used when they will later raise money from angel investors (to show that they have been accepted and FasterCapital is committed to invest 50% of the money needed).