Hidden Founders — startup accelerator without developers
Alexander Sergeevwrote this on Апр 16, 2015
Every day I choose a fresh startup which will help to make your own startup more successful. Today we’ll learn about an accelerator for startups lacking developers in their teams.
Hidden Founders creators help startupers who have already made up a good business-model, but can’t find a person with the necessary technical skills for realization of a project.
Each 6 month Hidden Founders management selects several worthy ideas to their mind and realizes them. Startupers don’t have to pay all the development price at once: an entrepreneur has to pay 14% of the declared price on the first month and the rest of it in the following 18 months. After 18 months the code becomes a property of the customer.
Besides paying for product development, the company gets 2% share of the selected startup according to the agreement.
If a product doesn’t become a hit and a startuper decides to shut down the project in order to do something different, he/she won’t have to pay for the code. The only condition Hidden Founders creators have is that besides 14% payment on the first month, payments for the following 6 months should be made as well. Only after this period, in case of failure, a startuper can quit paying Hidden Founders.
Hidden Founders creators position their service as accelerator because they risk a lot, according to their words. If the idea is not so good and a startuper refuses from the written code for it, Hidden Founders will lose money spent on the product development.
That’s why Hidden Founders representatives will be mentors for the selected projects during 6 months. They will help not only with technical problems, but also with business development.
But you shouldn’t forget about freelancers. You can find them at oDesk or at other freelance platforms.
