FirstMoney.In for Startups

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For Startups

Status: As of March 2023, the program is on indefinite hiatus. Applications are closed.
FirstMoney.In (1st$n) is a program for startup founders to apply to experienced startup angel investors on a standard deal of $5,000 in return for 0.1% of your company. It is designed to facilitate access to capital for never-before-funded companies, especially those led by founders who identify as Women, BIPOC, and/or LGBTQ+. All startups are welcome and encouraged to apply.

Why Apply to 1st$n?

While most venture capital requires founders to sell a large stake to investors, the 1st$n deal is purposely modest and as simple as possible. The program uses a standard deal: a $5,000 investment with a $5 million cap on a SAFE: Valuation Cap, no Discount. The investment purchases 0.1% equity in your company. FirstMoneyIn is not affiliated with Y Combinator in any way, but the program uses their verbatim SAFE document for the financing agreement.

How the program works:

  1. Fill out an application that asks for contact basics and your deck. Your deck is your pitch to us. We care more about substance over style. Contents commonly include a description of what you are building, its target customers, your traction, and team.

  2. Upon submission, a group of experienced angel investors will have access to the application for two business days.

  3. If one or more angel investors are interested during that window, they will contact you directly for an interview. All angels have different styles for investing, but most will require two meetings. Similar to being called for a startup accelerator interview, the chances for an investment even with a meeting are still less than 25%. Any investor who conducts an person-to-person interview and passes is expected to provide at least a few sentences of written feedback. Any investment facilitated by 1st$n is a private agreement between the startup and a specific investor. As a founder, you are not obligated to take investment money from anyone.

  4. After two business days, your application is considered closed. We do not have resources to provide feedback for every application.

  5. Please only reapply after your company has made significant new progress, and no more than once every six months.

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Participation is free for both founders and investors.

For Angels

While we want every startup to apply, the program requires its angels to be experienced and awesome. To participate as an angel investor on the 1st$n platform, you must:

Besides these requirements, 1st$n is committed to fostering an open and welcoming environment. Participants should review the community's Code of Conduct.

Inclusion to be a 1st$n investor is free and by invitation only. The core group of angel investors have invested in an average of 23 startups each, with a median of 14.

Program Status
Last update: March 2023, Startup Applications are closed.

Why Apply?

About FirstMoney.In

The program was created by Alan Glennon, Yury Lifshits, and friends, to discover underrepresented and underestimated founders. FirstMoneyIn does not generate revenue. Investors benefit through increased dealflow, and founders get their pitches in front of potential investors.

As founders, be aware that "first money" is not easy to get. Startup investors tend to invest in 1% or less of startups they evaluate. With multiple angels independently considering your application, we anticipate the likelihood of investment will be similar to a top-tier accelerator. Angels invest when they believe your team, your abilities, your product, and the market can lead to a massive return. We are excited you have chosen to become an entrepreneur. Best wishes on your path!

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