Welcome to the first in a series of blogs on the lifecycle of a tech startup.
You have recently founded a business with 2 others, Chris and Sarah. Chris is a good friend you went to university with and Sarah you met more recently but has also become a good friend. Your background is design, Chris’ background is engineering and Sarah is a developer.
Your idea is to produce a wearable wellbeing device. In fact, you have already produced designs for it. This device will link to a web based platform (and eventually an app), which Sarah is already building. One of Sarah’s developer friends has also been helping her, but she is likely to need more help going forward.
Although you are all based in the UK, you plan to ship internationally and may eventually need staff abroad. You expect the product to be a B2C (business to consumer) product, but are open minded should things develop differently.
COVID has meant you have re-evaluated your priorities and you have all agreed it is time to focus on this idea. You would like to ‘formalise’ things, but aren’t too sure of next steps. Although none of you have funds to invest in this venture, you have all agreed that this will be your main focus for the next 6 months and to work on this for free. You all plan to earn an income by carrying out some consulting work provided this doesn’t interfere with the business.
So now you’ve met the founders and their fictitious business, read the next blog in the series where we address ‘the basics’.
Lifecycle of a tech startup series
Episode 2
Lifecycle of a tech startup series: The basics
Last time we met the founders of a wearable tech startup, who wanted to take the next steps towards establishing their business.
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Episode 3
Lifecycle of a tech startup series: Intellectual Property
In our last instalment our founders, Sarah and Chris, considered the basics in establishing their tech startup and they incorporated a company under the registered name ‘KNow Wear Limited’. As part of the incorporation process, our founders started to think about any intellectual property rights (IPRs) the business was using and ownership of the same. In this blog we shall be exploring the IP considerations founders should be considering in a bit more detail.
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Episode 4
Lifecycle of a tech startup series: Preparing to raise investment
In the last instalment we talked about the ways in which the founders of KNow Wear Limited could protect the intellectual property in their business. Since then, the business has been progressing well and our founders have been working on developing a prototype.
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Video
Raising investment for startups: what legal documents would you expect to see?
Blog
Has the S.O.S from startups been answered?
Video
Raising investment for startups: types of funding
Blog
An introduction to angel investing
VIDEO
Raising investment for startups: what does raising investment mean in practice?
Podcast
Tech in Two Minutes Podcast Series
Video
Raising investment for startups: preparatory steps
Blog
Top tips for startups - getting to grips with legal issues
News
Startup Investments team shortlisted for Best Legal Team at the UKBAA Angel Investment Awards 2019
Blog
Articles of Association, Shareholders’ Agreements and Investors’ Agreements – what’s the difference?
Blog
What is a term sheet and why is it important?
We welcome views and opinions about the issues raised in this blog. Should you require specific advice in relation to personal circumstances, please use the form on the contact page.
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