#LaunchHour TwitterChat Tips
#LaunchHour TwitterChats are monthly virtual chats featuring important topics for startups, entrepreneurs, investors, and ecosystem stakeholders.
Startup Funding: What does raising a seed round mean?
What does a typical seed round look like in Upstate NY? How does that compare to NYC or the West Coast?
@LKS_Law: Seed rounds in #UpstateNY tend to range on the lower end – $250k-$1M which is ok because cost of living & doing business is less in Upstate. Seed rounds in NYC and Silicon Valley typically range between $2M-$6M
What is a convertible debt note? Why does the Launch NY Seed Fund use it?
@MarnieLaVigne2: Because of its name the convertible debt note is often mistaken to be a loan that is intended to be repaid like traditional debt instruments. However, the convertible debt note, as its name implies, is designed to convert into a stake in the company typically within two years, but avoids the challenges of deciding at the seed stage how much stake the investor gets for a specific dollar amount.
Read the whole #LaunchHour here & past TwitterChats in our archive.
Join us for our next #LaunchHour TwitterChat on March 18, 2020.