We will give you the inside scoop on key SF/Bay Area events/meetups to attend, people, companies, VCs, blogs, incubators, programs, and hot issues. Come meet others getting started in the local startup community.

1. Intro to the
SF Startup
Community
With Ahmed Siddiqui
Illustrations by Jeremy Sypniewski
Want to get in touch? I’m on Twitter @ mrrioki.
Or email howdy@magicspoon.net.

2. I was living in Minnesota, working at IBM. Dreaming about startups...
Hi. I’m Ahmed
Siddiqui.
INTRO
When my Uncle said: There’s a saying...
If you love startups,
you HAVE to move Welcome
to San Francisco. to SFO.
I imagined things going like this: I even had a plan:
I’m going to build an
app to teach my two
year old cousin English!
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3. So I ate some Ramen and got to work.
But our customers
weren’t using it to Eating Ramen.
learn English.
We kept building,
and building. But the product still
wasn’t that great.
They were
using it as
a healthy And eventually we
eating came to the co-founder
app. disagreement phase.
We realized that either
We should We should We should We should We should way the market wasn’t
be this. be that. pivot. iterate. eat Ramen! big enough.
Can you tell Sure.
But I survived. us how we
get involved COOL!!!
in the startup
Any community? I’d actually love to.
questions?
Huge fan by
the way!
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4. Tech meetup. Another tech meetup.
Tech. Tech.
Initially, I went to all
the tech meetups
and kept meeting
1. MEETUPS the same people.
It’s a
circuit.
Cooking meeetup.
Everywhere you go here
Tech. people are into startups
and tech.
Variety; pretty Business card stack
inexpensive; in the will be HUGE; very
But they also evenings. social—not action
like to cook... oriented.
Are you really interested
in doing a startup?
2. HACKATHONS
Hackathons
can help you
find out.
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5. They’re about working with people, getting stuff built, and getting it out there.
The schedule
looks like this...
WE DID IT!!!
Action based—all Whatever you build,
about doing. No you’ll probably scrap. 3. MENTORS
business plans. You It’s ok; it will give
might find a you an idea. There is
co-founder (look a time commitment,
for people that can but you can find out
complement you). a lot about yourself.
Also, prizes.
This is important. What What I can help you.
should should I’ve done it.
I do? I avoid?
1. Ask for guidance
and advice.
YOU NEED 2. Learn as much as
A MENTOR. possible.
3. Build relationships.
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6. Unfortunately,
there’s no badge that
Where do you says "I’m a mentor."
find a mentor?
You choose them; You choose them;
the relationships you they could take you But they’re
build could lead to down the wrong They’re out there.
funding; you’ll always path. (Though this is allover.
learn something. rare).
They tend to drink coffee. Sometimes they speak at conferences.
Should you
give them Yes. They get
equity? vested
with you.
It’s also a way
of retaining
the mentor.
This is the
rage of late.
4. INCUBATORS/
ACCELERATORS
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7. A lot of mentors hang out at incubators.
What happens at 1. You’ll work on your
the incubator? startup for three
months.
2. You’ll get some 5X
funding to stay GREATER
afloat.
3. They’ll provide
networking and
dinners so you gain
exposure.
It’s good to learn
some of the stuff
Take some yourself...
classes.
Seed funding; some Hard to get into.
free legal services You have to pick 5. CLASSES & it will help you have
conversations with
(usually cost about
$700–900/hour); a
one. They’ll take a
percentage of your
TALKS developers.
large peer network. company, but for
the value of services
they provide it’s
worth it.
Also, classes can be springboards...
Structured learning; Some can be
usually in the very expensive.
evening; great Sometimes it’s
networking; can act a large time
as a springboard. commitment.
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8. It’s lonely working on your startup, by yourself, in your house.
This is kind of
a big thing.
And I was
6. COWORKING skeptical
at first, but I
found out it’s
all about the
network.
Coworking spaces
are great for:
1. Meeting amazing
people. Work with other Pricey; some places
startups; build a (like Rocket Space) 7. ANGELS
2. Sharing ideas. network; free events; require seed funding.
good exposure.
3. Getting work done.
Typically they invest:
YOU They’ll help get
the business
WANT off the ground.
THEM.
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9. Find a
reputable Somebody that
angel. has a vested
interest in your They do convertible Smaller increments
domain. notes. They’re great of funding. A lot of 8. VCs
advisors. They will angels aren’t that
help you raise more seasoned—be careful
money because whom you choose.
they are invested in
the business; well
connected.
Typically they invest:
When you’re at a point But there’s just not
to raise VC money, take a enough VC money to
look at their portfolios... support all the startups.
find places
that are similar or
complementary.
When you get to the big rounds the money isn’t there.
The bottom line is don’t
just go to angels and
VCs for their money. Go for their
Incubators knowledge.
Angels
It’s worth more than
Big money the cash money.
9

10. Awesome. Let’s
wrap this up.
Funding typically They take a big
above 1 million; chunk—means more 9. EPILOGUE
great advice; they’ll accountability, you
take a bigger chunk, have to make your Some advice...
but will help with numbers, there’s
later rounds. a board, and your
valuation could go
down if you miss.
Get ready for the
ride of your life.
THANKS FOR READING!
Don’t be shy. I’m on Twitter @ mrrioki.
Or email howdy@magicspoon.net.
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