August 30th, 2008

Compiled VC Questions About Startup Idea

 

I recently had a VC interview for one of my projects I’m working on. These were the questions they asked me, I organized them into different sections. I hope it’s helpful.

Questions about your idea

  • What are you going to create ?
  • What need in the marketplace will be filled by your product or service ?
  • What is your target audience ?
  • How long have you been working on this idea ?
  • How far have you gotten ?
  • Why do you want to do this ?
  • What do people currently do since your solution does already exist ?
  • Who will be your competitors ?
  • Why do you think yours will be better ?
  • How long will it take for you to develop / complete a prototype ?

Team questions

  • How long have you known each other ?
  • Have you worked together on a project before ?
  • What would be each member’s responsabilities ?
  • Is there anyone else that you need to execute on your idea ?

Execution and business issues

  • What is your biggest concern about this idea or project ?
  • Would your product be difficult to duplicate ?
  • Was any of your code written by someone who is not one of your founders ?
  • What core underlying tools or platforms will you be using ? (e.g. open-source)
  • How do you think people will discover the product or know it exists ?
  • How do you think you will be able to make money from it ? (charge for use, advertising, subscription based)

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