--- title: How to Raise Money When You Have Nothing (Not Even a Prototype) description: Avoid common fundraising pitfalls with these expert tips for startup founders. Learn how to navigate legal strategies, investor alignment, and long-term planning for successful capital raising. image: https://blog.corporatecounsel.ie/hubfs/Vector%20-%20blog%20-%20pre-seed%20funding.jpg --- [Skip to content](https://blog.corporatecounsel.ie/wcc-academy/how-to-raise-money-when-you-have-nothing-not-even-a-prototype#main-content) ![blue-logo](https://blog.corporatecounsel.ie/hs-fs/hubfs/blue-logo.jpg?width=182&height=54&name=blue-logo.jpg) - [Home](https://www.corporatecounsel.ie/) - [Blog](https://blog.corporatecounsel.ie/wcc-academy/all) Open main navigation Close main navigation - [Home](https://www.corporatecounsel.ie/) - [Blog](https://blog.corporatecounsel.ie/wcc-academy/all) [All posts](https://blog.corporatecounsel.ie/wcc-academy/all) April 16, 2025 # How to Raise Money When You Have Nothing (Not Even a Prototype) ![Picture of Michael Bambrick](https://app.hubspot.com/settings/avatar/15f86413bbd9eaef2e6af4e427e1d61d) By  [Michael Bambrick](https://blog.corporatecounsel.ie/wcc-academy/author/michael-bambrick)  ·  1 minute read   How to Raise Money When You Have Nothing (Not Even a Prototype)  Raising capital with no product, no traction, and no team? That’s not a pipe dream—it’s called *pre-seed funding*. And yes, it's possible. But here’s the truth: at this stage, it’s not about the product. It’s about **you**. *“Pre-seed isn’t about ideas—it’s about proving you’re the team to bet on.”* Here's how to make that bet attractive: 1. **The Pre-Seed Mindset** Investors aren't backing your idea—they’re backing your *ability* to execute. Conviction, storytelling, and early signals of momentum matter more than polish or perfection. Pre-seed is where belief is built. 1. **The Alternative Funding Playbook** Can’t raise equity yet? No problem. Alternative capital sources exist: - Grants: Think Local Enterprise Office supports. - Crowdfunding: Platforms like Spark, Republic Europe, or Crowdcube allow you to raise small investments from a large pool of supporters—often without giving away too much control. - Friends & Family: But do it *with contracts*. Protect relationships and your cap table. 1. **The €0 Traction Hack** No product? Get Letters of Intent (LOIs). They prove real customer interest before a line of code is written. We’ve seen startups raise €250K+ off the back of strong LOIs alone. Need help? Ask us for a simple LOI template. 1. **The Pre-Seed Pitch Deck (8 Slides Max)** Less is more. Focus on: - Problem - Solution - Market - Why Now - Product Vision - Go-to-Market - Team - Ask Avoid overloading with detail. Your goal is to start conversations, not close the round from a single deck. **Legal Red Flag: Never Give Up Too Much Equity at Pre-Seed** We can’t stress this enough. Over-diluting early will kill your future rounds. Need help modelling your cap table? Ask us for free cap table software. **Final Thought** Pre-seed fundraising is part hustle, part vision, and part legal discipline. We’ve guided countless early-stage founders through this exact phase—helping them raise smart, not desperate. If you’re gearing up to raise a pre-seed round, or just want to know what your options are—we’d be happy to speak.        Share: [Share this page on LinkedIn](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.corporatecounsel.ie/wcc-academy/how-to-raise-money-when-you-have-nothing-not-even-a-prototype) [Share this page on Twitter](https://twitter.com/intent/tweet?url=https://blog.corporatecounsel.ie/wcc-academy/how-to-raise-money-when-you-have-nothing-not-even-a-prototype) [Share this page on Facebook](http://www.facebook.com/share.php?u=https://blog.corporatecounsel.ie/wcc-academy/how-to-raise-money-when-you-have-nothing-not-even-a-prototype) [Share this page via emial](mailto:?body=https://blog.corporatecounsel.ie/wcc-academy/how-to-raise-money-when-you-have-nothing-not-even-a-prototype) ## Related posts [![](https://blog.corporatecounsel.ie/hubfs/istockphoto-1266952282-612x612%20investment%20trap.jpg)](https://blog.corporatecounsel.ie/wcc-academy/5-deadly-fundraising-mistakes-founders-make-and-how-to-avoid-them) [Venture Capital](https://blog.corporatecounsel.ie/wcc-academy/tag/venture-capital) ### [5 Deadly Fundraising Mistakes Founders Make (and How to Avoid Them)](https://blog.corporatecounsel.ie/wcc-academy/5-deadly-fundraising-mistakes-founders-make-and-how-to-avoid-them) [![](https://blog.corporatecounsel.ie/hubfs/istockphoto-1393151132-612x612.jpg)](https://blog.corporatecounsel.ie/wcc-academy/navigating-enterprise-irelands-pre-seed-start-fund-pssf) [Enterprise Ireland](https://blog.corporatecounsel.ie/wcc-academy/tag/enterprise-ireland) ### [Navigating Enterprise Ireland's Pre-Seed Start Fund (PSSF)](https://blog.corporatecounsel.ie/wcc-academy/navigating-enterprise-irelands-pre-seed-start-fund-pssf) [![](https://blog.corporatecounsel.ie/hubfs/blog%20image%20-%20founder%20dispute.avif)](https://blog.corporatecounsel.ie/wcc-academy/how-to-prevent-co-founder-disputes-from-stalling-your-business-growth) [Venture Capital](https://blog.corporatecounsel.ie/wcc-academy/tag/venture-capital) ### [How to Prevent Co-Founder Disputes from Stalling Your Business Growth?](https://blog.corporatecounsel.ie/wcc-academy/how-to-prevent-co-founder-disputes-from-stalling-your-business-growth) [![Wallace-Corporate-Counsel-Logo-1](https://blog.corporatecounsel.ie/hs-fs/hubfs/Wallace-Corporate-Counsel-Logo-1.png?width=250&height=70&name=Wallace-Corporate-Counsel-Logo-1.png "Wallace-Corporate-Counsel-Logo-1")](https://blog.corporatecounsel.ie/) Wallace Corporate Counsel LLP Waterloo Exchange, Waterloo Road, Ballsbridge, Dublin, D04 E5W7    [Home](https://www.corporatecounsel.ie/home) [Contact Us](https://www.corporatecounsel.ie/contact-us) [Privacy Policy](https://www.corporatecounsel.ie/privacy-policy) [Disclaimer](https://www.corporatecounsel.ie/disclaimer)   [About Us](https://www.corporatecounsel.ie/about-us) [Expertise](https://www.corporatecounsel.ie/investments-and-capital-raising) [Clients](https://www.corporatecounsel.ie/our-clients) [Our People](https://www.corporatecounsel.ie/people) Copyright © 2026, Wallace Corporate Counsel LLP ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Michael Bambrick", "url" : "https://blog.corporatecounsel.ie/wcc-academy/author/michael-bambrick" }, "dateModified" : "2025-04-16T21:09:55.377Z", "datePublished" : "2025-04-16T21:09:08.000Z", "headline" : "How to Raise Money When You Have Nothing (Not Even a Prototype)", "image" : [ "https://blog.corporatecounsel.ie/hubfs/Vector%20-%20blog%20-%20pre-seed%20funding.jpg" ], "mainEntityOfPage" : { "@id" : "https://blog.corporatecounsel.ie/wcc-academy/how-to-raise-money-when-you-have-nothing-not-even-a-prototype", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://blog.corporatecounsel.ie/hubfs/WCC%20footer%20logo-1.png" }, "name" : "Wallace Corporate Counsel LLP" } } ``` ```json { "@context" : "http://schema.org", "@type" : "Article", "author" : { "@type" : "Person", "name" : [ "Michael Bambrick" ], "url" : "https://blog.corporatecounsel.ie/wcc-academy/author/michael-bambrick" }, "datePublished" : "2025-04-16T21:09:08+0000", "description" : "Avoid common fundraising pitfalls with these expert tips for startup founders. 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