It's interesting to see these opinions from someone who has been close to Seedcamp, even though at the end of the article the author discloses a bit of a vested interest in criticising.
Anyway, I thoroughly agree.
From my perspective, running a startup based in London that's been entirely bootstrapped, I'd be more interested in applying for Y-Combinator than Seedcamp. Even though we already have premises and 1 staff member, and a product virtually finished, I think we'd get miles more value for our 5-6% from YC.
There seems to be this notion in the UK that raising money and starting a business is a reality TV show. I'm subscribed to a mailing list where someone has come up with "Pitch to Win":
Defies belief. While this sort of attitude is floating around, I'm just not sure how to approach the whole funding problem in the UK.
We haven't approached any investors here yet (although we have been approached), and I am feeling like I'm going to have to look to the other side of the Atlantic to find the kind of people that I'd like to work with.
Thank you for your comment. Good to hear other people share my view on the funding situation over here.
A couple of clarifications:
I'm not sure I'd say I'm someone who has been particularly close to Seedcamp. I've not personally taken part in any of their activities beyond networking events that happen around Seedcamp week. I am a keen observer though.
I don't see BootCycle, the 'vested interest' you mention, as being direct competition to Seedcamp. BootCycle is simply a peer support group for a small collection of pre-revenue and pre-investment startups that meets every week. BootCycle takes no equity in the startups and provides no funding. We do think some BootCycle participants are likely to go on to get funding from Seedcamp or Y Combinator. Y Combinator is more appealing for all participants except for the ones that have family commitments in the UK.
Anyway, I thoroughly agree.
From my perspective, running a startup based in London that's been entirely bootstrapped, I'd be more interested in applying for Y-Combinator than Seedcamp. Even though we already have premises and 1 staff member, and a product virtually finished, I think we'd get miles more value for our 5-6% from YC.
There seems to be this notion in the UK that raising money and starting a business is a reality TV show. I'm subscribed to a mailing list where someone has come up with "Pitch to Win":
http://www.meetup.com/startup-fasttrack/calendar/10723535/
Defies belief. While this sort of attitude is floating around, I'm just not sure how to approach the whole funding problem in the UK.
We haven't approached any investors here yet (although we have been approached), and I am feeling like I'm going to have to look to the other side of the Atlantic to find the kind of people that I'd like to work with.