Trend Talk

Trend Talk

Global one to one conversations about today's trending news.
May 11 '16
The Lucey Fund helps early stage start-ups accelerate their business development, typically by taking on the product development for companies to enable them to get their mobile apps or Internet platforms launched more quickly, and more robustly. We get recompensed for our development work one third in cash, and two thirds in shares. So if a project budget was €75,000, we would need the start-up t The Lucey Fund helps early stage start-ups accelerate their business development, typically by taking on the product development for companies to enable them to get their mobile apps or Internet platforms launched more quickly, and more robustly. We get recompensed for our development work one third in cash, and two thirds in shares. So if a project budget was €75,000, we would need the start-up to find €12,500 up front, and the balance on project completion. Our development contribution is quantified at €500 per day, and is locked down in detail at the end of a comprehensive tech spec process during the first month. We used to fully fund product development, but we find that this approach ensures that the promoters are actually committed to their business, and that as we debate what should be included in the product build, all sides are aligned on doing only that which is necessary to take the product to the next stage. We often take over prototypes or simple MVPs to enable the products to scale.

We are based in Ireland and have worked on over 70 such projects over the last three years, and now have offices in LA and Bilbao.

Once we have an interest in the business we can help in other ways, perhaps by developing channels to market or business partnerships, or creating a social media campaign, or by introducing angel or institutional investors. Our approach has evolved in response to the understanding that promoters in start-ups rarely have all the resources they need, be they skills, experience or contacts, and we can help plug these gaps as the business is getting on its feet. We are always on the look-out for early stage companies for whom our model might work, so please feel free to get in touch.

Julian Ellison, Director, julian.ellison@lucey.fund, +353 87 973 4503
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