In April we were very happy to welcome two more founders into our portfolio. Sponge and Connect me Sports came to Million Labs through our Ventures programme and are now both in development.
In May we want to ramp up the number of founders we invest in. Our focus in 2021 is to prove our investment thesis and we need to find plenty of opportunities to do that! So, what are we looking for?
Our target investments
We designed Million Labs Ventures to give everyone a chance to build their digital startup. The programme is designed to fund the development of Minimum Viable Products. That means we are looking for founders with an idea but need money to develop an application that will test it.
Ventures offers up to $50,000 for 5% of the equity in a startup. We are focussed on funding technology, but we will also fund minimum viable marketing campaigns if they are relevant to testing an idea.
Our conditions are:
That the application is built using no-code toolsThat the value proposition and business case make senseThat the founder can evidence a good understanding of their customer and the marketThat the scope of the minimum viable product is a relevant test of the idea
We make decisions on investments within four weeks and can support founders that require guidance to develop ideas to a state where they can be funded.
By using no-code we have been able to cost the cost and time to market for launching technology and that means we can take far greater risks with our investments. For that reason we will fund niche ideas from founders that simply wouldn't be heard by traditional investors.
If you want to get involved simply head to our home page and apply.