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Miller Lite – “Tap the Future”​ Competition – Daymon John, No Equity Angel Investment

27 Feb

Daymond gives some good advice here…

Miller Lite’s “Tap the Future” Contest is underway accepting applications through April 14th. The Contest participants (rules in link above) get $20,000 for being selected in the first round, and can get $100,000 if their idea is selected as an overall winner. As Daymon John points out above, the huge advantage in participation in the competition, is the money does not require giving up equity in the winning companies, giving the a massive leg up should their business move to the point of seeking secondary of tertiary investment. If you can get to the product prototype stage (or are already there) with $100,000, this is far better financially than pursuing “Angel” investors who will want 30-50% ownership. One of the most critical factors to success of a startup is keeping the investor/ownership group as small as possible. Winning this could mean the entrepreneur retaining majority ownership through at least the Venture Capital round.

Go for it!

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Posted by on February 27, 2017 in General, The Post-Racial Life

 

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