Frequently Asked Questions
Ok, remember the "almost" for free? We know you do. Developing an app is expensive, if you have looked around with a development shop they can quote you anything between EUR 25K to EUR 500K. If you go through the trouble of getting a technical co-founder, well, it's worth a lot of equity.
So why almost? Or the theory of free lunches...
We don't charge you for the app development in a standard way, which is where most startups struggle, because they burn cash even before they validate their idea. What we do ask for is an option to get a 3% stake in your startup and a spot in your advisory board, if and when you incorporate, plus EUR 500 to help with the admin costs we have with the upkeep of your MVP for 3 months. After launch I charge you EUR 150 on a monthly basis for the cost of keeping the app running.
Isn't 3% of a billion Euros is a lot of money?
Yes, we've done the math, it's 30 million Euros. š We do give you an exit option in our agreement. If and when you decide to incorporate, you don't want to give us the 3% stake there is a clause in the agreement that allows you to pay us 15K Euros for our early work on the MVP and off we go, still friends. You also get a "get out of jail free card". If you decide not to use the MVP we built for you, there's no obligation on giving us the equity or pay us the exit EUR 15K. So what you really risk losing is EUR 500 and 3 months of your time (the worst of it in our opinion)...
How can you guarantee that we launch in 3 months?
We will analyze the scope of your idea and discuss and agree with you what a Minimum Viable Product (MVP) should look like, so you can validate your idea and iterate as you get user feedback. Also we use no code tools to accelerate development and bring your MVP to life quickly. Remember, our focus is your app MVP development, you will still need to do everything else that is involved in launching YOUR product. š
How else can DigitalFight.Club help?
Because most idea stage companies aren't incorporated, this means that often they don't have a way to collect fees from customers for example. If that is your case, we can help you collect fees using our payment gateway and then articulate payments to you. We do charge a fee on payments that depending on what you're selling can go from 15 to 20%, until such time as you are able to use your own payment gateway.