The search for the perfect investor is a tricky path, and Conor McCarthy, co-founder of the successful Irish start-up Flipdish, has some valuable insights to share. But is his advice controversial? You decide.
At a recent regional gathering of the New Frontiers programme, McCarthy shared his wisdom with aspiring entrepreneurs. The event, hosted by Technological University Dublin and Silicon Republic, brought together start-up enthusiasts from various institutions, fostering connections and knowledge-sharing.
Here's the twist: McCarthy emphasized the importance of finding the right investor, not just any investor. He urged start-ups to ask themselves what they truly need from an investor. Is it just money, or is it guidance and support? And here's where it gets controversial—he suggested that if you have any doubts about an investor, it's better to avoid them altogether or do your own due diligence first.
McCarthy's own experience with Flipdish shaped this advice. They sought investors who understood their long-term vision and were willing to provide the necessary time and support. This approach, he believes, is crucial for building a sustainable business.
The event also featured a panel of New Frontiers alumni, including Barry Armstrong, co-founder of Antreo, who chose the Republic of Ireland for its supportive ecosystem. Armstrong highlighted the role of Enterprise Ireland and local LEOs in their decision, as well as the impact of Brexit on their choice of location.
Michael Guerin, founder of Imvizar, and Greta Dunne, founder of Marker Video, echoed the importance of the New Frontiers programme in their fundraising journeys. They, along with Meg Brennan of Polliknow, praised the Irish start-up community for its generosity in sharing knowledge, making Ireland an attractive hub for entrepreneurs.
So, is McCarthy's advice to be cautious with investors a wise strategy or a missed opportunity? What do you think? Share your thoughts in the comments below and let's spark a conversation!
