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startgarden gives $5-$20k for new startups

by alleycatnews
17 replies
Startgarden is run by the grandson of the cofounder of amway. (don't let that scare you though)

Basically each week startgarden invests $5k in 2 different biz ideas. One is popular vote at the site the other is picked by the investors.

You come back in about 3 months after funding to see if they will fund you for another $20-$50k+

cool concept and they have been doing it a few months now.

Interesting bizs funded from a reindeercam to icecream delivery, to mobile bakery etc...

Anyway check them out if you have a business. You don't have to jump thru hoops either its like 5 questions to answer.

Don't put up junk though but if you have a legit biz go for it!

You are only competing with about 30-40 ideas a week!!

startgarden.com (No I am not affiliated with them but love the idea.
#$5$20k #startgarden #startups
  • Profile picture of the author WeavingThoughts
    IMO 5-20k is too little for most serious start ups. Maybe if you just need to make a website with some seo or a mobile app, then it may be okay. But a real business will probably need a lot more in most cases.

    If you just need to outsource a website and stuff, sure, that can be a real business too. But that is the most common thing nowadays and the only thing this much money can do for you.
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    • Profile picture of the author TheArticlePros
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      • Profile picture of the author Blade Runner 77
        Originally Posted by JaRyCu View Post

        Why is that? My first business was started with a $15K loan. It did $150K/year in sales for 5 years.

        My second business was started with $0 in the bank, no loan, and only my ingenuity to get it going. It's not doing too badly, either.

        If someone gave me $20K, I'd probably ____ my pants with happiness, and I'd never look back again. That sounds like way too much for most start-ups if the owner is resourceful and has a plan.

        -- j
        lol, you just explained why you could start a business with $15k. It was years ago when $15k had very different buying power.
        However I agree, a good business idea that is well planned out almost starts itself and I'd be very happy with $5k right now to get my ass off the runway.
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    • Profile picture of the author jkibbles
      Originally Posted by WeavingThoughts View Post

      IMO 5-20k is too little for most serious start ups. Maybe if you just need to make a website with some seo or a mobile app, then it may be okay. But a real business will probably need a lot more in most cases.

      If you just need to outsource a website and stuff, sure, that can be a real business too. But that is the most common thing nowadays and the only thing this much money can do for you.
      I have to respectfully disagree with you, WeavingThoughts. I started a handyman business with about $50 in my pocket, a few basic tools, and a minivan. Within a year I was making over $30,000 and I never had any financial help, loans or otherwise. After 3 years, I was hitting the $75,000 mark in profit. Again, I had no financial backing. Had it not been for a non-work related injury that made it impossible to lift anything with my left arm, I'd still be running that business and there is no doubt that I would have cracked the $100k mark by now.

      Depending on the business idea, $5k-$20k would be more than enough to get it off the ground, assuming that the founder practiced some common sense with their spending.
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      • Profile picture of the author PerformanceMan
        Originally Posted by jkibbles View Post

        I have to respectfully disagree with you, WeavingThoughts. I started a handyman business with about $50 in my pocket, a few basic tools, and a minivan. Within a year I was making over $30,000 and I never had any financial help, loans or otherwise. After 3 years, I was hitting the $75,000 mark in profit. Again, I had no financial backing. Had it not been for a non-work related injury that made it impossible to lift anything with my left arm, I'd still be running that business and there is no doubt that I would have cracked the $100k mark by now.

        Depending on the business idea, $5k-$20k would be more than enough to get it off the ground, assuming that the founder practiced some common sense with their spending.
        These stories start out great and then hit the wall. Since you were making $75,000 a year "in profit" you should have paid someone $25,000 to do the lifting for you.
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        • Profile picture of the author jkibbles
          Originally Posted by PerformanceMan View Post

          These stories start out great and then hit the wall. Since you were making $75,000 a year "in profit" you should have paid someone $25,000 to do the lifting for you.
          I was in a hospital for over 3 months, the first 2 weeks of which I was so heavily medicated that I barely knew my name. Exactly how was I going to hire anyone to do anything? The business was a sole proprietorship, so I didn't have any partners to take up the slack. The "story" as you put it is actually my autobiography, but if you feel that it's necessary to comment on how unreal it seems, be my guest. Trust me, it felt a bit surreal to me at the time, as well.
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  • Profile picture of the author alleycatnews
    that is what additional funding is for. They give that out once the idea is flushed out a bit and see what people can do with it. Some are given $50k to start with.
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  • Profile picture of the author fghaegele
    Originally Posted by alleycatnews View Post

    Startgarden is run by the grandson of the cofounder of amway. (don't let that scare you though)
    :confused::confused::confused::confused::confused: :confused::confused::confused::confused:
    Worst opening salespitch ever. Goodbye.
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    • Profile picture of the author TheArticlePros
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      • Profile picture of the author Michael Harris
        Originally Posted by JaRyCu View Post

        Only if you don't realize that Amway is one of the strongest marketing companies on Earth...everyone has heard of them because of their marketing imperatives.

        -- j
        I agree JaryCu,

        I'm not a fan of them, but I am aware of they way they market, both
        their products and business plans..

        As I have a friend who is a member..

        He is always going on about how many millionaires, they have produced, and how many of this product they sell, and how many countries they are in, etc..

        Like I said I'm not a fan but I admire the way they do their marketing..

        All the best..
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    • Profile picture of the author alleycatnews
      Originally Posted by fghaegele View Post

      :confused::confused::confused::confused::confused: :confused::confused::confused::confused:
      Worst opening salespitch ever. Goodbye.

      LOL I said don't let that scare you. Just cause his grandfather started amway and grew it into a multibillion dollar company and now owns the orlando magic.

      Doesn't mean his GRANDSON can't take $15 million over the next 3 years and invest in small businesses.

      The grandson has done some VERY cool stuff with the amway money. Including artprize which is cool.

      Anyway not everyones cup of tea but they are doing some great things with the money that family has earned.
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  • Profile picture of the author footbag_man
    Are they an American based investment company?

    Do they take a % of your company and profits?
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    • Profile picture of the author alleycatnews
      Originally Posted by footbag_man View Post

      Are they an American based investment company?

      Do they take a % of your company and profits?
      at the $5k investment they would own 3% of your company.

      which means they are saying your company is worth about $150,000

      And they will do a new deal if you are offered funding at higher amounts. But you never have to repay the $5k if it goes bust etc...

      Its an interesting idea for the little guy
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  • Profile picture of the author O0o0O
    Just registered. Looks promising!
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  • Profile picture of the author Viremia
    Originally Posted by alleycatnews View Post

    Startgarden is run by the grandson of the cofounder of amway. (don't let that scare you though)

    Basically each week startgarden invests $5k in 2 different biz ideas. One is popular vote at the site the other is picked by the investors.

    You come back in about 3 months after funding to see if they will fund you for another $20-$50k+

    cool concept and they have been doing it a few months now.

    Interesting bizs funded from a reindeercam to icecream delivery, to mobile bakery etc...

    Anyway check them out if you have a business. You don't have to jump thru hoops either its like 5 questions to answer.

    Don't put up junk though but if you have a legit biz go for it!

    You are only competing with about 30-40 ideas a week!!

    startgarden.com (No I am not affiliated with them but love the idea.
    It sounds awesome, but do they accept members from outside the USA?
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  • Profile picture of the author Dimachaerus
    This looks pretty interesting and 20k is a great start-up fund, if the idea is executed correctly there would be a great ROI.
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  • Profile picture of the author alleycatnews
    tourglass one was funded sounds like a very cool one. would be a cool way for people to make extra money as well and have fun doing it.
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