pss2125 Posted October 21, 2011 Report Share Posted October 21, 2011 Hi, Say for eg, I am in H1B visa working for Corporate.com, I want to start a tech startup like facebook called mystartup.com. There are two founders, Me and US citizen. We start in a Dorm and work on the website. After 6 months, the website gains prominence and we get a venture capital funding of 10million. Can somebody suggest me some way such that I can be a part of mystartup.com legally? 1) After 6months I want to quit Corporate.com and start working on mystartup.com fulltime. 2) Can the following model work: US citizen Equity: 50% My Equity in the name of my Mom who is in India: 50% I resign from Corporate.com after 6months. Then work as a consultant through a agency for mystartup.com as an employee. Mystartup.com becomes successfull. I sell it for $100million. My mom gets $50million. I transfer that in my account. Spend $500,000 to get my green card done. Then, I do other ventures independently. Can somebody comment on this approach. Or any other way, I can start the venture mystartup.com Thanks, Siva Link to comment
gorantlamk Posted October 22, 2011 Report Share Posted October 22, 2011 wowww...who do you sell it to??? Link to comment
pss2125 Posted October 22, 2011 Author Report Share Posted October 22, 2011 Some big company will acquire it. Google acquired youtube for $1.65billion. Link to comment
JoeF Posted October 23, 2011 Report Share Posted October 23, 2011 You are not Youtube. You haven't learned the first thing about startups. You are delusional. You are thinking about step 10 when step 1 isn't even possible. It is not possible, no matter how often you post it. Geez. Seems you have a big desire to see a deportation cell from the inside. Because that's the only thing that will happen: you will get deported and banned for life. Link to comment
JoeF Posted October 23, 2011 Report Share Posted October 23, 2011 wowww...who do you sell it to??? That guy is just dreaming of some "get-rich-quick" scheme... Since it would be illegal work, he wouldn't even get any venture capitalist investing in his pipe dream. And big companies wouldn't touch illegal stuff, anyway. Link to comment
pss2125 Posted October 24, 2011 Author Report Share Posted October 24, 2011 Joe I really like your sense of humor. You see the positive side of being deported is that I do not have to pay my flight ticket while going back :) Link to comment
pss2125 Posted October 24, 2011 Author Report Share Posted October 24, 2011 @JoeF: Can I join a start up as an employee which has just got the seed funding put no history of revenue but backed by a Venture Capital? Will my H1B get approved if the start up files for my H1B? Thanks Link to comment
JoeF Posted October 24, 2011 Report Share Posted October 24, 2011 An employer can file an H1, but they of course have to have the financial means to pay the salary for the person. The salary has to be at least the prevailing wage. If the company has a business plan and enough funding, the H1 could get approved. If the company doesn't have that, it is rather unlikely that an H1 will get approved. The company should discuss this with a good immigration lawyer. Oh, and getting VC isn't easy. I know people (Americans) who ended up rewriting the business plan for their startup more than 100 times before they got VC funding. And a few years later, they got pushed out of the company, and the company folded... That's the norm, btw. The dreams of 100s of millions is just that, a dream without any footing in reality. Link to comment
pss2125 Posted February 17, 2012 Author Report Share Posted February 17, 2012 http://www.murthy.com/news/n_encent.html So does it not confirm that I can be a co founder in a company? Link to comment
JoeF Posted February 17, 2012 Report Share Posted February 17, 2012 http://www.murthy.co...s/n_encent.html So does it not confirm that I can be a co founder in a company? No, it doesn't. Link to comment
acushle Posted February 18, 2012 Report Share Posted February 18, 2012 http://www.murthy.co...s/n_encent.html So does it not confirm that I can be a co founder in a company? Many entrepreneurs who were successful for the fact they did not do it for the money.... at-least not solely for the money. Let passion drive you, money will follow... Link to comment
JoeF Posted February 19, 2012 Report Share Posted February 19, 2012 Many entrepreneurs who were successful for the fact they did not do it for the money.... at-least not solely for the money. Let passion drive you, money will follow... The OP has read something in a book about how Zuckerberg started Facebook, and thinks that's how companies are started... And that VCs are just waiting to throw money at some arbitrary startup... What he doesn't understand that it is very hard work and takes years to get a startup off the ground. And that it is no get-rich-quick thing. VCs see thousands of business plans each year, and most of the business plans are just rubbish. I have known people who had to rewrite their business plans 60 times over two years to get VC funding. The OP has a lot to learn about how a business works. Link to comment
murphyd Posted February 20, 2012 Report Share Posted February 20, 2012 Dude you have serious issues. Which investor in their right mind deal with your mom? If you are an entrepreneur, they want to deal with you not with your mom, that means you have to own the equity not some proxy. No investor will touch your company even if your idea makes sense. If you do get funded, it would be wise for you to open a office in your home country. Link to comment
pss2125 Posted February 24, 2012 Author Report Share Posted February 24, 2012 Can u work as a consultant/contractor at a startup at least? Link to comment
JoeF Posted February 24, 2012 Report Share Posted February 24, 2012 Can u work as a consultant/contractor at a startup at least? A person can of course get an H1 from a startup company, provided the company has the financial means to pay the salary. That is not different than working for any other company on H1. You can not work for free or for equity only. You have to get the salary, free and clear. Link to comment
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