Seedcamp
An open letter to thank SeedCamp
Submitted by xsyn on Sun, 2010-08-15 16:40While I gather my thoughts, and put my own feedback together, I thought I'd share my 10Layer cohort Jason Norwood-Young's feedback to Philipp Moehring and Reshma Sohoni:
Hi Philipp
Please pass this on to Reshma as I don't have her email address.
I'd just like to briefly let you know what Guy and I thought of Seedcamp. When we initially signed up, we had in mind to look for VC through Seedcamp, but before the event we'd changed our strategy to try and fund ourselves for as long as possible. I think this was advantageous as we weren't really pitching to the mentors and could happily admit all the large holes in our current business plan and get real, honest and excellent advice.
I think it was also to our advantage that we are for the most part just "slideware" at the moment, as we're able to implement the advice from the mentors immediately without having gone down wrong roads to having to change existing business practices.
For these two reasons I suspect we experienced Seedcamp quite differently from the other startups.
So how did we find Seedcamp? My measure of its success would be the amount of change it has created in our business, and by this measure it was highly successful. In particular, our marketing message and pitch was dramatically honed; our pricing structure will have a severe review; our funding time-frames and the entire way we think about funding have changed dramatically.
Our weakness is that we take our strategy by thinking about the product and the customer. While this is still vital, we don't think enough about the business - it's a typical weakness for us idealistic startups. Seedcamp gave us access to people who think about the business first - its sustainability, profitability, risk reduction, and market perception. We feel significantly more skilled after Seedcamp (although still far from considering ourselves to be experts).
While every mentor was valuable and excellent, Sheraan and Stefan stood out in terms of strategy, Andrea was amazingly open and gave us an immense wealth of information, and Gareth was incredibly insightful. I'm sure Guy has his own list of stand-out mentors.
The most incredible thing about Seedcamp is it was exposure to experience that it would have taken us months to achieve, and probably immense expense. You guys brought us this amazing resource, for free, compressed into a day, and I cannot express my gratitude enough for what you've done for us and our business.
Thank you, thank you, thank you.
Kind regards
Jason
10Layer


