What are the benefits of using Venture Programmers?

Will I save money?

We can offer a more effective solution for you than raising funds via a business angel then spending those funds on paid for development.

First, if you use paid for development, then the development company will be looking to make a substantial profit on top of the actual development costs. Therefore the funds you would need to raise would include the costs plus the developer's profit. That 'profit' reflects the saving you will make by using Venture programmers.

Will I get a better technical solution?

Absolutely!

Paying a software company to develop your solution buys you a fixed amount of their time. They will want to do the least amount of work to satisfy their brief. If they can cut corners, then they will. To make the most profit they have to complete your work as quickly as possible and move onto the next job.

Using a team of Venture Programmers is very different. You get a team who have a financial interest in ensuring that what they build for you will do the job intended and do it well. You get a team in whose interest it is to suggest and implement improvements and provide you with ongoing support. In short, through Venture Programmers, you can get a level of commitment to your business that money simply cannot buy. Unlike a conventional software company, we will not take your money and build a solution that will never make money. If we don't build you something that works, then we get nothing in return - so we will make sure we do!

Will I get ongoing support?

Yes.

Once we strike a deal then we are in business together; your success is our success. You can, therefore, expect your team of Venture Programmers to maintain an interest in the business beyond the initial development phase.

What if I have the money to pay for development?

See above!

You can spend your money if you like and take a chance on the quality and suitability of the product developed for you and pay again for ongoing support. Or, you can take on an ongoing technical partnership.

I already have a business

We don't only deal with start-ups. In fact, our very first client had an established business, but saw the benefits of an ongoing technical partnership over one-off paid for development. Our involvement allowed them to grow the business by allowing them to sell more of their services.

What other help will you give?

We have a wide range of previous experience and knowledge that we can share with you in order to ensure your business is successful. We also maintain contact with a wide range of business leaders whose skill and knowledge we are able to draw upon.

Costs and charges

Are there fees or is the service 100% share based?

There two fees that we charge in order to evaluate your business idea before we will offer you a deal:

• A Business Evaluation Fee (£99)

The first stage is for you to prepare a business case proposal via our online forms. We will evaluate your business idea, which will have one of three outcomes:

1. If we are happy that the idea is sound then we will invite you to attend a Management Evaluation.
2. If we feel the idea has no merit, the we will give you feedback.
3. We may ask for additional information. (There's no additional charge to resubmit your proposal with requested additional information in this instance).
   

• A Management Evaluation Fee (£399)

At this stage we invite you to meet with us, plus any external business experts that we believe will be of assistance. This meeting is to evaluate your ability to run and make a success of the proposed business idea. It will help us decide whether or not we can work together. We would also make an initial estimate as to the skills are going to be required to implement your idea and what the likely development costs / time scales will be.

note: prices are exc. VAT

Why isn't the evaluation process free of charge?

We are running a business and we receive a large number of proposals. Were we to evaluate them all for free, then we would not be in business for very long! As it is, the fee is nominal - it does not reflect true cost of us putting the idea in front of several of our experts and writing a response and feedback for you. The Management Evaluation will be face to face and will involve several of our staff and external experts. The charge covers our expenses for this meeting.

What happens after the Management Evaluation?

Assuming we are happy, we would then move onto a Technical Evaluation. At this stage we would look in detail at what it will take technically to implement your business idea. We will contact our programmers and put together a team in order to produce a proposal for you. Assuming you accept our proposal, then we go into business together! Read more in the Proposal Evaluation Process.

Do I need to pay for anything else?

Yes, there is one additional charge. While our programmers will be working free of charge in exchange for a share in your business, we do not expect them to incur expenses in doing so. In order to ensure your project is delivered on time; to the required specification and quality we will appoint a project manager. We will also have regular meetings with or programmers to ensure the right progress is being made etc. In order to cover all these costs, we will expect you to pay a sum equivalent to 20% of the market value of the development we will be doing for you. This figure will be decided in advance as part of the Technical Evaluation. Be aware, that this investment can be written off against tax as part of the Enterprise Initiative Scheme.

Are there ongoing costs?

Once we agree to work together then we will be in business together. We'll be running a new company and like all companies, that may have costs. Those costs would then be covered by the business, not you personally.

How much of a share in my business would I need to give in exchange for your services?

This would be decided on a case by case basis; there is no set figure. But as a rule of thumb, the percentage would be calculated by estimating a value of your business before and after the development of your technical solution. We would expect a share commensurate with the increase in value from the idea stage to the ready for business stage. Of course, you'll be working towards the success of the business as well, so that work is also taken into account. In short, we'll be looking for a share that will recompense us for the risk we are taking in doing the work, but at the same time, you need to retain enough so that it is still in your interest. Hence, there is no "one size fits all" formula, instead each project is negotiated on its own merits and circumstances.

Confidentiality

Will you keep my proposal confidential?

Absolutely!

Your idea will be seen only by our own staff and by the external experts twe feel are essential to give your idea a full evaluation. All the external experts we use will have already signed Non-Disclosure Agreements (NDAs) with us. Our team of programmers have no access to proposals until they are invited to join a Technical Evaluation.

Non-Disclosure Agreements

External experts and Programmers will all be covered by Non-Disclosure Agreements  before they are shown your proposal.

Venture Programmers Ltd does not sign any NDAs with those offering proposals prior to the submission. Should you have highly sensitive information that you prefer not to share until after an NDA has been signed, then that fact should be indicated in your proposal - but do not include the sensitive elements of your proposal at this stage. In general, the evaluation process can procede without such information.

Why should I become a Venture Programmer?

What do I get in exchange for my time?

You will be given a share in the business you are working for. That share entitles you to any dividends paid as well as the value of that share should the business be sold. In general we would be looking for business ideas with a three to five year exit strategy. That means we expect the business to be floated on the Stock Market or bought out within that time frame.

Do you guarantee me a return?

Sadly, no. This is a risk and some businesses we work with will fail to provide the expected return. However, we will only ask you to become involved in businesses that we feel have a high chance of success. In return for your risk, you will be given a share which should realise many times what you would have earned if you had been paid up front. You are under no obligation to accept any offer that we put to you. You can turn down as many projects as you like and wait for one that really suits you. Whichever project you choose to invest in, you will not be alone. Other programmers, Venture Programmers Ltd and Venturists will be investing too. Others will be investing money, you will be investing some of your time.

How can I increase my chance of a high return?

Invest your time in more than one project. If you were to invest six months of your time, then you'd have a higher chance of big success if you gave two months to three projects rather than six months to one project. Putting all your eggs in one basket may give you the best return, but increases the risk of not having a large return. Just like stocks and shares, your chances of success are higher with a manageable portfolio rather than investing everything in one company.

Do I have to pay my own expenses?

Venture programmers will expect you to attend occasional meetings. Initially there will be evaluation meetings and if the project goes ahead, then there will be regular planning and progress meetings. The basic costs of you attending these meetings will be funded by us from within the agreed project.

Do I have to provide my skills indefinitely?

You will become a shareholder in the company you invest your time in. Your financial success, as well as that of everyone else involved, will depend upon the success of the project and may also depend upon ongoing support. Since you will have a vested interest we would expect you to provide a level of ongoing support. However, if much of your time were needed, then the business would typically pay your time out of its profits after the initial development period. All of this would be agreed at the outset of the project prior to launch.

Do I need to do this full-time?

No. You decide how much of your time you want to invest. We'll find the right project to match whatever time you can offer.

Can I be a Programmer AND submit my own business proposal?

Yes!