We've put about 5 man-years into the project, spread out over 4 years time. That time includes 3 years of full-time effort (myself for 1 year, co-founder for 2).
To be completely thorough, we ended up spending a lot of our personal savings to pay our personal bills, which was not included in the official seed investment. Still, that only amounts to perhaps an extra $25k (so all told, we're in the $70-80k range).
With a family of four I've gone back to working full-time at a corporate employer; my co-founder has not and continues to work on it full-time, as he is single and lives a pretty spartan life.
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Wow. The lowest burn rate means spending more in two months than we've spent on Stormpulse in 2 years.
Either I'm way out of my league and everyone else has amazingly-capitally-expensive ideas, or we're the cockroach on the cockroach's back.
Are you working on your startup full time? The cost of a single person working on a startup is at least $30k/year, even if you cut salary to the bone.
We've put about 5 man-years into the project, spread out over 4 years time. That time includes 3 years of full-time effort (myself for 1 year, co-founder for 2).
To be completely thorough, we ended up spending a lot of our personal savings to pay our personal bills, which was not included in the official seed investment. Still, that only amounts to perhaps an extra $25k (so all told, we're in the $70-80k range).
With a family of four I've gone back to working full-time at a corporate employer; my co-founder has not and continues to work on it full-time, as he is single and lives a pretty spartan life.