Slashdot Mirror
Open Source Venture Fund Unveiled
prostoalex writes "Over the next three years Simula Labs will finance 6-8 open source startups with $10-15 million it got from venture capitalists, News.com says. The venture financing enterprise is mostly interested in hiring the founders of the project and selling the services based around product infrastructure. LogicBlaze and Mergere are among the first startups who got financing from Simula Labs, and it looks like a logo that incorporates orange and brown is required before you apply."
An interesting way to fund Open source based buisness ideas... but the captial seems a little small spread out over that many ideas... will it run out before the ideas pan out ?
Both sites seem to be structured in the same manner with similar page titles and similar wording for content.
...a logo that resembles a mouldy tangerine?
It's a small world and it smells funny; I'd buy another if it wasn't for the money; Take back what I paid (SoM)
Today yada yada yada more than ever yada yada yada your needs yada yada yada our solution yada yada yada. Open Source adopts market speek
Microsoft has applied for funding to start an open source project called "POSIE", an acronym for the term "Proof that Open Source Is Evil." Microsoft requires funding due to a lack of volunteers. When asked why he doesn't simply throw a mountain of cash at the project, Bill Gates replied, "I'm not going to contribute any money to something that is Clearly Evil and Wrong".
from a bunch of lone developers and their pet projects.
"it looks like a logo that incorporates orange and brown is required before you apply"
Is it just me or do the logos look rusty and gray?
I wonder how these ventures will work out. The transition from being an independent OSS project to being a captive part of a services organization can't be easy. Holding customers' hands as they deploy last-year's release is very different from writing the next bit of cool code.
The solution will be to find a management staff that can balance software development tasks versus providing services -- keeping both the project personnel and the customers happy. I'm guessing that they will do this by putting project people into "guru" positions and doing the bulk of the sales and service work with an army of hired underlings.
Two wrongs don't make a right, but three lefts do.
nothing a good slashdotting won't fix
I saw that as "Today yodayodayoda More Than Ever yodayodayoda You Need yodayodayoda The Solution Is yodayodayoda"
Comment removed based on user account deletion
Looks like one of those spoof sites:
http://61.233.18.53/paypal
http://61.233.18.53/security
I'd guess that he'll get what he deserves....
It's not the posters' site. He's just posted someone else's IP addy.
I'd guess that he'll get what he deserves....
I guess that he's already got what he deserved. Do you really think that someone runs spoof sites on his own box? Then you're even a bigger idiot than he is.
Collected these little gems from the two sites mentioned...
"Evolve your web services into real-time business processes"
"Enterprise Transaction Platform"
"JAVA-based developers are not asking if they should adopt automated build processes; they're asking how much standardization is best suited to their IT structures."
"Infrastructure Development Management (IDM)"
"Software Lifecycle Management (SLM)"
"With our message queue, enterprise service bus and clustered cache manager products, we significantly reduce the complexity and cost of integrating, managing, and maintaining distributed enterprise applications to enable organizational adaptability and flexibility in responding to constantly-evolving priorities and competitive drivers"
hello dear sirs my name is jamesh i are india (bihar) can u guide me install red had linux 9?
It depends. Of course, the investment pattern tends to be that smaller investments yield less exciting returns, but obviously this isn't always true. It's better to have lots of fingers in lots of pots rather than dumping all your cash onto one hope.
I currently have a service which is blowing up in popularity (several thousand users, 300,000+ requests a day in only a few months) and getting lots of donations.. but users are saying they're ready for a commercial solution and so I'm working my ass off to get a totally kickass new version ready.
Problem is.. I have existing clients. I can't ditch those guys on a hope and a prayer.. so my spare time is minimal. Just $20K or so would let me hire the help I need to kick it up several notches, as well as keep me comfortable for several months while it builds up even further.
Of course, it's not going to turn into a $1 million/year income, which is why regular VCs wouldn't be interested (well, unless I ended up with tens of thousands of PAYING users.. not too far fetched I guess). So I guess there's an investment opportunity, but it's a tiny tiny one.
Both sites contain nothing but marketing double-speak and absolutely no useful ionformation about what they produce.
VC money meet toilet.
These "companies" almost seem like generic shells set up to suck money off of stupid VCs. Really. Don't they?
Think about it. A new category of startup: The Open Source Startup Model. As any self-respecting Slashdot denizen, I naturally haven't read the article. Others mentioned that 10 million spread among 6-8 startups would not be enough to fully fund a startup. I agree, but if I was running such a fund, I don't think I'd want all of the startup funding coming from one primary source anyway. The OSS teams I'd want to finance would be those that already had something going, i.e. some software already in place. Then I'd want to at least see a plan for filling in the "Step 2: ?????". Why finance something that already exists? Because you don't want to start with a just a concept that may or may not work. Also, you already have a potential customer base (just have to figure out a way to not piss them off).
What would be the advantage of an OSS startup? It's a great way to leverage goodwill--people like OSS software and its developers. Also, OSS usually contribues to the greater good of society.
What existing projects would be good candidates for this? I'd like to hear from others on this. My votes would be for 1. Mambo--PHP Web Content Management. 2. Nagios--enterprise system monitoring and alerting software.
I don't think I'd be willing to fund, say, PHP or MySQL because they are too mature to benefit from $1-2 M, plus MySQL already is an established enterprise.
BTM
That was the turning point of my life--I went from negative zero to positive zero.
VC money meet marketing. I've always thought that marketing and "double-speak with absolutely no useful information" were synonymous. But hey- if those full-color brochures don't prove that the product is good, then I don't know what will.
Comment removed based on user account deletion
Also required on web page: corporate jargon, and empty buzzwords.
I note that the web pages for both start-ups don't know the English language -- in particular their use (actually mis-use) of commas. And the style is distressingly similar. It looks like a fraud to me.
... and they dare to (mis-) use the holy name of Simula for this ... shit! (Isn't it protected by one of the creators of Simula? Where are the true-hearted knights of the holy grail of object-orientation to fight against this evil dragon?)
Bernd
This venture could have picked a better name. There is already a Simula Research Laboratory in Norway, a government funded research facility specializing in communication technology, scientific computing and software engineering.
I have been giving this a great deal of thought for forming my own corporation. Make the software tool open source and simply providing the configuration service.
The question I have is, what happens if a rival company claims it is a patent violation? Does OSS offer any protection?
@vSpid Like, Whatever
Others mentioned that 10 million spread among 6-8 startups would not be enough to fully fund a startup
Yeah, well others don't know what the hell they're talking about. It's absolutely possible to bootstrap a new company on far less than 1 million dollar. You can't say anything meaningful about it unless you know "the plan".
I'm just replying to your post because I think it's silly the way people talk about startups these days (not you; the others). There certainly are products/markets that require more capital investment in early round financing, but you also have to remember that it's pretty damn uncommon that a company will raise more than a million in round 1 financing. Usually the higher amounts will come in subsequent rounds. This should, again, all be part of "the plan".
Seriously, if you have a good idea for an Open Source based startup, go for it! The main thing it requires is your drive, not cash. But also, I personally think it's very important to plan. Plan what you intend to do, in a realistical manner (have someone else cross check your estimated times, preferably someone that has done software projects before), but definitely TALK with people about it. You may find that others get so excited you don't need to take any financing.
And don't get a cent more financing than you absolutely need. Remember that every cent you take as an investment now, you will be paying back based on high risk investment standards; we're not talking 5% interest rates here. These guys may end up owning more than half of your company before you know it.
One last thing before I stop my rant and continue working on my own lil thing; Don't fool yourself; VCs are not investing money in OSS startups because they think they are so cute. Or because they are of such morally high standards. They are doing it for one thing, and for one thing only; to make as much money as they can from the enterprise.
So go out and do your thing; you don't need a million dollars to do it!
Thier sites and logos were done at the same time by the same person, and reading them sites I have no idea what these companies do.
So I guess this is the start of another bubble. Hurrah.
#hostfile 0.0.0.0 primidi.com 0.0.0.0 www.primidi.com 0.0.0.0 radio.weblogs.com
Simula Labs is located in Norway, the country where the Simula programming language originated. The _real_ Simula Labs homepages are at http://www.simula.no/ :-)
"Rune Kristian Viken" - http://www.nwo.no - arca
TFA specifically states that both companies were sreated by Simula Labs. So of course it's possible that they would look similar.
sreated -> created. Yes, I used preview.
What a blurb of bullshit those websites were! Sounds exactly like the kind of abstract small-talk we had before the bubble. Will another bubble grow and burst?