Start up co-founder how you deal with ego related problem and the strategy of decision making ?

I'm working as free-lance maybe this question seems to be dubmb for you but i'm working since 10 years by my self as solopreneur and when i think about join a group or found a start up, i have always the same kind of fearful thoughts. An entrepreneur Should have an intuition and not make all the times logic / obvious move.

There is also an ego problem in there when every co-founder think He is making the différence and he spend more efforts in the project than other maybe it's cognitive biais but i seen maybe projets fails for this reason

And Last thing is the decision making, decision in our times Should go fast when it depends to many person it can be a problem.

As teams of start ups how do you deal with this ? And how do you think sucessful startups deal with this kind of problem ?

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Startups – Rapid Growth and Innovation is in Our Very Nature!

Hong Kong fintech startup Neat raises $11 million Series A to give small companies more banking services

Neat, a Hong Kong-based fintech startup, announced today that it has raised a $ 11 million Series A to help small businesses do cross-border banking. The round was led by Pacific Century Group, with participation from Visa and MassMutual Ventures Southeast Asia, and returning investors Dymon Asia Ventures, Linear Capital and Sagamore Investments.

Neat also announced a strategic partnership with Visa, which means that in the next few months Neat will start issuing Visa credit cards to SMEs and startups.

This brings Neat’s total funding to $ 16.5 million, including its seed round announced at the end of 2018.

Like San Francisco-based Brex, which achieved a $ 2.6 billion valuation last year, Neat focuses on giving startups and small businesses a more efficient, online alternative to traditional banking.

Its services allow them to open business accounts for multiple currencies online, send and receive payments from different countries and apply for corporate credit cards. Neat’s new funding will be used for expansion, with a focus on Southeast Asian customers that do trade with European companies. Last year it opened a Shenzhen office to serve Chinese export businesses, as well as an office in London for Western European companies that trade in China.

Neat co-founder and CEO David Rosa told TechCrunch that businesses are still looking to digitize more of their operations despite the worldwide impact of the COVID-19 pandemic. “Neat is serving entrepreneurs around the world that trade with Asia. Before they may have fitted visits to the bank into their business trips to Hong Kong, this is no longer an option,” he said.

Corporate credit cards can be difficult for startups and SMEs to get because they typically need about three years of audited financials to qualify even for low spending limits, Rosa said. Employees often cannot get a corporate card because their managers do not have the tools to control their spending limits, making reimbursement more difficult. Neat’s partnership with Visa aims to solve many of the problems they encounter (it also offers a Neat Mastercard). In the future, Neat will launch tools for automated payroll, accounting and logistics.

In a statement, MassMutual Ventures managing director Ryan Collins said, “We’re proud to support Neat in the company’s vision to support entrepreneurs. There is a clear demand for better financial products for SMEs, especially when it comes to cross-border payments and trade, and we’re confident that Neat’s passionate and innovative team will deliver.”

Startups – TechCrunch

Downtime at #eNom reveals a handy TLD, gTLD and ccTLD chart

 DomainGang.com: Domain registrar eNom is having a scheduled downtime for some of its functions currently. In particular, the following activities are offline at the time of this post: Availability Checks Whois Services Domain Purchases Domain Renewals Domain Updates That’s pretty much anything you need to do with managing your domains at eNom!…
Domaining.com

[Morphisec in WSJ]Infrastructure Report: Hospital Technology Faces Coronavirus Strain

Remote work poses particular challenges for security professionals, given that they often rely on complex software that cannot be operated in the same way from home computers, said Ronen Yehoshua, chief executive of security company Morphisec Ltd.

Read more here.

The post [Morphisec in WSJ]Infrastructure Report: Hospital Technology Faces Coronavirus Strain appeared first on OurCrowd.

OurCrowd

looking to buy a flight booking application both mobile and web

I am wondering whats the best between buying off the shelf solution or getting it developed from scratch. I found a place where there is no such solution where every booking has got to go through an agent and I want to try to be the first and provide the solution. Basically, I am looking for all platform application ios, android, and web. Is there a market place where I can buy such a solution in the first place? Or, is there an affordable team that I can hire to develop the solution so that I can test the market before heavily invest.

although I prefer not to be specific about the place just to give an idea online payment does not exist in the country. In addition, currency conversion has its own drawbacks for people to use already existing sites such as google flights

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Startups – Rapid Growth and Innovation is in Our Very Nature!

Tyto Care raises $50 million as it looks to buy and build new services during COVID-19 demand surge

Tyto Care, the provider of a home health diagnostic device and telemedicine consultation app, said it has raised $ 50 million in a new round of funding.

The round was led by Insight Partners, Olive Tree Ventures, and Qualcomm Ventures, according to a statement, and brings the startup’s total capital raised to more than $ 105 million.

The funding comes just as Tyto has seen a dramatic surge in demand brought on by the global response to the COVID-19 pandemic. Tyto Care’s toolkit is being used as a telehealth diagnostic solution that was already seeing three times sales growth in 2019 alone.

Last year, the company inked a deal with Best Buy and works with most of the major telemedicine providers, including American Well, Teladoc and others.

Previous investors Orbimed, Echo Health, Qure, Teuza and others also participated in the new financing, the company said in a statement.

With the financing, Tyto Care is well-positioned to both buy and build new tools based on its existing diagnostics platform, as well as expand its home health testing kit into new areas.

Companies like Scanwell Health are providing at-home diagnostic tests for things like urinary tract infections, and Tyto Care chief executive Dedi Gilad definitely sees options for new products around different kinds of at-home tests, the Tyto Care founder said in an interview.

All of this new capital comes with surging demand where Tyto Care’s telehealth technology is being used by every hospital in Israel to provide remote examinations of quarantined and isolated patients infected with COVID-19. Other hospital networks are also turning to the company’s diagnostics tools for similar applications, the company said.

The remote medical exams can protect health providers from exposure to SARS-Cov-2, the virus that causes COVID-19, and enables uninfected patients to get an examination of their basic health remotely, without needing to go to a medical facility.

“Over the past two years, Tyto Care has increased momentum faster than ever before and is playing a leading role in changing how people receive healthcare. Telehealth is heeding the call of the COVID-19 pandemic and we are proud that our unique solution is aiding health systems and consumers around the world in the fight against the virus,” said Gilad, in a statement. “This new funding comes at a pivotal moment in the evolution of telehealth and will enable us to continue to transform the global healthcare industry with the best virtual care solutions.”

Startups – TechCrunch

End of the road for Neustar as GoDaddy U-turns again and buys out its registry biz

 DomainIncite.com: GoDaddy has changed its mind about the registry side of the industry yet again, and has acquired the business of Neustar, one of the largest and oldest registries. The deal will see GoDaddy purchase, for an undisclosed sum, all of Neustar’s registry assets, amounting to 215 TLDs and about 12 million domains. It means the [&#823…
Domaining.com

6 Keys To Managing Funding From People Close To You

business-funding-from-friendsIn their passion to succeed, too many entrepreneurs treat friends and family investments as “low-hanging” fruit, only to find out later, after a stumble, that the pain of lost relationships is greater than the loss of their beloved startup. Other entrepreneurs never start their adventure, because they can’t face the prospect of even approaching friends and family for an investment kick-start.

The only way an entrepreneur can really dodge this issue is to totally fund the startup with personal funds (bootstrapping). Then you don’t have to worry about the fact that most angel investors and venture capitalists won’t take a bet on you if none of your friends and family have given you a vote of confidence with money.

This is a sensitive and critical area for new entrepreneurs, and it’s important to get it right the first time. Brian S. Cohen and John Kador, in their classic book “What Every Angel Investor Wants You to Know,” includes these great points of practical advice on this subject:

  1. Manage expectations before the fact. Even if you passionately believe that your idea is a winner, it’s smart to remind friends of the historical facts with startups. More than 50% fail in the first two years, and even the “overnight successes” take six years on the average. In the interim, there is no market for the shares, and no dividends or interest.
  1. Make sure the money is discretionary. If friends and family are still willing to take the risk because they believe in you and love you, you need to be convinced that they can afford to lose it all without major impact, and their emotion won’t generate unreasonable expectations over time. If you are not sure on this matter, then don’t take their money.
  1. Be professional about it. Treat the transaction as you would expect to be treated by an angel investor or VC. That means writing down and signing the terms of the agreement, after making sure everyone understands them. Insist on paying market rates for commercial loans, since the IRS can instigate some nasty consequences on “gifts.”
  1. Tie payments to your product or service revenue. Try to avoid obligations with fixed repayment schedules. With “cash flow” obligations, investors receive a percentage of your operating cash flow (if any) until they have been repaid in full, or have achieved a specified percentage return on their investment.
  1. Loans are a safer option than equity. Offering debt is better than offering direct equity, especially in early stages when you have no valuation for setting equity percentages. Many use a convertible loan note that may be converted into equity upon the closing of the first formal angel or VC round of financing, with a more realistic valuation.
  1. Pay the money back, with thanks, as quickly as you can. This money is real, so don’t assume it doesn’t have to be repaid. Some founders are too focused on quick repayment, and they compromise strategic decisions. That’s why it is better to use institutional investors and loans when you are able, with realistic time frame expectations.

Don’t forget a couple of additional potential negative realities. For entrepreneurs, friends and family money usually represents the smallest increment of funding, yet requires the most time to manage. Everyone wants to keep up and even have a say in your activities, and that can be a lot of conversations to manage.

A second harsh reality for entrepreneurs is the realization of how little power you have to protect the position of these early investors. New money from professional investors sees no value in old money, so the equity of early investors is “crammed down” and often lost in the scale-up surge. Later investors all think you have given away too much of the company too soon.

These realities are part of the reason that this first tier of very early investors are often referred to as “friends, family, and fools.” Most experienced entrepreneurs and investors can recount a horror story of families and friendships torn apart by money lost on someone else’s dream. In these cases both the entrepreneur and the friends are the fools. Don’t be one or create one.

Marty Zwilling
Startup Professionals Musings