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Co-founder

4 months ago

Hyderabad, India Playdawn Consulting Full time

Need a co-founder to work together to build a hyper local start up. The co-founder will co-own the start-up and work primarily on strategy, business development and investor relations, although as a start-up founder clear boundaries may not always exist.

The ideal co-founder would:
Have around 7-8 years of professional experience, a mix of tech development and management is preferred

Have tried to establish a company before and lead initiatives of different types

Need to have keen knowledge of the current start-up ecosystem in India in general and not just specific to a particular domain

Not currently have any major financial or personal responsibilities

Be willing to work full time on the start-up

Would need to be Hyderabad, preferably high-tech city based

The start-up is currently in market testing phase. A team of part time of 7 professionals including architect level people with 10 plus years of experience, is ready to start working on the prototype on the tech side of things.

The start-up aims to solve a major problem in the hyperlocal space and can see tough competition from big players in the near future. As of now there is only one single known start-up in India in this space so there is surely a lot to play for. The start-up idea aims to work on a paradigm which is growing very rapidly and may become something via which a lot of people get things done in the coming future as per industry reports.

Currently the major challenges that need to be solved are:
Increase the user base while keeping the marketing costs as low as possible.

Raise a pre seed fund of around 2 lakhs to get marketing and operations rolling from angels/friends/family etc.

Ensure that the tech team that is distributed and is working part time is able to get the vision and is highly motivated to deliver in the limited time that they have

Fine tune the strategy so that risks posed by large players entering the fray are minimized and keep a watch on the trends so that one can pivot swiftly.

Create a strategic plan with risk mitigation strategies and identifying interesting new opportunities for growth.

If successful in the initial phase the plan is to go for the next round of funding with figures showing user adoption and revenue, and profitability. The next round will then be either an angel round with 20 50 Lakhs or depending on traction and team growth, a series A 3 million USD plus.

As a co-founder we will together arrive at a plan of equity payment to you over the progression of the company. There will need to be some equity set aside for future co-founders other than that for investors as well.