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by helen842000
5465 days ago
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Yeah, we were told our funding amounts and then advised that around £1200 (which in my case was about 15%) of this had already been allocated to cover training, office space (which I never used) and mentor meetings. Some of the other businesses only got a small amount of funding to start with which left them with very little after subtracting this expense. However, just to have had a place or any funding at all in the UK in my opinion is a great thing. I think YC have it spot on, their funding is the right amount to allow a team to concentrate on their idea yet not so much that they can be complacent about running costs. I still had a full time job whilst part of my incubator. The funding couldn't be used for living expenses. I wonder how much further along I would be now if that wasn't the case. I think great things happen when afforded the time to focus on that one thing. |
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