Yorbing Staff, January 21, 2019
Its been very difficult locating Angel Funds that is sufficient enough to set up a running business with quick access to the market. It is however surprising that a great idea as a venture capitalist still alludes many recent grads and the unemployed to set up their own businesses and thrive in this recession-ridden economy. In this economy you’ve got to brainstorm your own career path and get down dirty with it or you will stay unemployed and poor.
Ben Schiller, Fast Company noted this frustration in their article as why venture capitalists dont bother to reach out to us. Schiller states: ‘If you’re looking for money to start a new business, it helps to be white, male, attractive-looking, and living in a place like Boston or San Francisco. Better still, you want to have gone to a top-ranked university. People with these sorts of profiles win the lion’s share of funding from VC firms.’
‘In 2015, more than three-quarters of U.S. VC funding went to companies in three states: Massachusetts, New York, and California. Only 5% of capital went to female founders. Just 1% went to African-Americans and Latinos. Between 2007 and 2012, graduates of just six universities–Stanford, Harvard, Berkeley, MIT, NYU, and the University of Pennsylvania–received 10% of all the world’s startup financing…..VCs fund products that solve problems they understand, it’s often said. And, being largely white, male, and elite-educated themselves, they fund people of the same backgrounds.’
He wrote that many startups and ideas go hungry and unfulfilled. Simply advice yourself and get down to it. Just start with whatever money gets into your hands, $10 here, $20 there. Get the tools gradually but build.
Its been a hellish exclusion but dont be fazed. Its slow-paced due to the financial scarcity but what can you do? Just stop begging and keep doing, you will eventually overcome.