I am technically inclined, strong in math and statistics, background in science. Due to research experience in the natural sciences where I had to program simulations, I have basic programming skills to do small things, but am certainly not a programmer.
I have a few ideas that I want to implement, and non-family supporters who have faith in me such that they are eager to invest even though I have nothing but a few ideas.
I subscribe to the notion that ideas are a dime a dozen and especially in this day and age nobody should really see investment until they at least have some basic proof of concept. This is one of the reasons I refuse to take capital contribution.
The other reason is that I have no idea what a fair amount to take/equity to give is, especially considering that these parties are willing to invest on the basis of an idea alone.
I have a buddy that I've worked with that I trust to develop, but if I accept contribution, I'd also work my ass off to develop programming chops and contribute meaningfully in that time. But until then, all I'm good for is: 1. ideas 2. building models/algorithms 3. providing access to capital
I hesitate to take investment precisely because I am not a programmer, can't do the work myself, and think that the odds of a successful startup are wildly against everyone and especially me because of my skillset.
Yet I really am interested in this space.
Am I out of line in my desire to be involved in internet startup space given my skillset?
How much money should I be interested in taking and how much equity should I be considering giving up?