<Deleted due to this forum being full of rude, unhelpful trolls>
[Edited by - sstark on October 23, 2010 2:01:44 PM]
Anyone have advice for launching an indie studio?
Quote:Original post by sstark
Anyone have any advice for finding venture capital or other funding, to setting up an incorporation or studio, or any possible problems or pitfalls?
VCs want really big profits. If you're doing a small-time operation, angels would be your better bet. This is something I learned at last week's IGDA L.A. chapter meeting, we had a bunch of startup funding pros on a panel.
Here in the US there's a government agency called the Small Business Administration, they're a great resource for startup questions. Maybe there's a similar agency in Canada.
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[Edited by - sstark on October 23, 2010 2:30:54 PM]
[Edited by - sstark on October 23, 2010 2:30:54 PM]
Quote:Original post by sstarkNot for them.
Had a game idea that needed 1mil, and went to a vc meeting with it. It's a great money maker of an idea, however the VC's wanted to see 3-5mil back within a year. Horrible way to kill a business.
They know it is a risk. Game studios are inherently more risky than many other businesses thanks to strong competition.
They know that if they keep looking around they will be able to find that kind of return. They're looking for ROI, they can see you can't provide it, so they put their money somewhere that can. It is a very sound decision.
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[Edited by - sstark on October 23, 2010 2:42:04 PM]
[Edited by - sstark on October 23, 2010 2:42:04 PM]
Quote:Original post by sstark
I turned down that offer because 400% ROI is ridiculous.
They saw the potential in it. Anyhow, that was a large game venture, and I'm focusing on smaller games to generate a flow of income. Just need help getting to that point.
I guess the answer I gave above wasn't helpful...
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[Edited by - sstark on October 23, 2010 2:00:34 PM]
[Edited by - sstark on October 23, 2010 2:00:34 PM]
Quote:Original post by sstark
No, you must of mis-understood. Let me clarify.
I turned down that offer because 400% ROI is ridiculous. I'd rather struggle more while making the game than pay back 400% within a year. A year is development time.
They saw the potential in it. Anyhow, that was a large game venture, and I'm focusing on smaller games to generate a flow of income. Just need help getting to that point.
Doubt you will find many VC that don't want at least a 200% return. They are the ones with all the risk after all. If the game goes bust you just say "whoops" and they are the ones with their ass hanging in the wind.
If you don't want to deal with that then you probably out to get a business proposal together and try and get a business loan. The ROI is much lower but then again you have all the risk.
You aren't going to find anybody to give you a million dollars then tell you to pay it back whenever you can. VC do what they do to make money. They don't stay in the business by giving out handouts to everybody who wants to make a game.
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[Edited by - sstark on October 23, 2010 2:16:45 PM]
[Edited by - sstark on October 23, 2010 2:16:45 PM]
Quote:Original post by sstark
Please read the details before jumping to conclusions.
Calm down, S. We're trying to help, and you're not easy to help. Somebody says 3 things, you just hear 1 and argue against it. Take this slower, drill down through each suggestion one at a time, more carefully.
You dismissed angels very quickly -- so look into what they are, do research.
You ignored the thing about government agencies that exist to help small startups entirely. You could ask your local agency about angels and also about other ways to obtain funding, if that's your main focus.
In the meantime, while researching funding options, you could be writing a business plan.
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