How important is a VC/investor in starting a business?

Post date: 2022-09-19 07:06:42

I have a software/hardware product that doesn't really need capital but needs support from other large vendors, for the sake of the question we will say Salesforce. I'm having a very hard time getting conversations going or being taken seriously. My question is twofold, how important is having a serious investor and how do you go about finding these investors if not through close friends?

The product is not vaporware, but most conversations I have with vendors or other companies kind of die when they see I do not have a serious investor. No one even asks to see if the product works. I did some serious comparative analysis of competitors and they all had high finance types heavily involved: hedge fund, independently wealthy, venture capitalist. Reading pitch decks from other startups and they all seemed to have run rates of frankly millions before they even sought out early investment.

Money is not the issue directly but I get the feeling having a serious investor gives credence, is this true and are there ways around this? Second how do you find investors if you're not already good friends with one? I went to corny investor meetings and they seemed focused on opening things like coffeeshops and not highly speculative technical startups.

i've been looking for a roadmap of either "keep working on the product" or "focus on getting an advisory team or investors to get companies to take you seriously" and oddly nothing exists.

Thanks!

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