The Youngest Son of Sunyang (Reborn Rich)

[093] A Difficult Battle 1

"First of all, thank you for the quick decision, Professor."

"Oh no, this is an opportunity, so I shouldn't miss it. I'm even more grateful for the chance you've given me."

Professor Shashua appeared after dinner time. It was late, but it seemed like he couldn't bear to wait another night.

As it was late at night, most of the hotel guests who would usually enjoy their evening were gathered at the bar, leaving the lobby lounge relatively quiet.

"I'm curious about your response to my proposal."

Professor Shashua took out a neatly folded piece of paper from his pocket.

"This is the initial startup cost, and I've briefly noted the proposed ownership structure based on the investment."

When I quickly glanced at the numbers on the paper, I almost burst into laughter.

These numbers gave a good estimate of the scale of CogniTens, which was founded in 1995.

I could clearly see the difference between South Korean venture companies and this proposal. South Korean ventures often show efforts to raise as much money as possible, but this single piece of paper showed traces of carefully considering how to save money.

The amount of money offered was minimal in my eyes.

I folded the paper and placed it quietly on the table.

"Professor, may I talk about something more important than money?"

"Of course."

"Do you have confidence that your research will become a reality?"

"Yes."

Professor Shashua nodded confidently. His attitude showed no hint of pretense.

Belief in oneself, having what is absolutely necessary, I can move on to the next step.

"How will the collaboration with the technology center be structured? Here it says that you give 3.7% of the stake to the university technology center..."

"Oh, usually it's strong on the aspect of equipment provided by the university and costs for the lab. Miscellaneous items like library books are also included."

Professor Shashua explained the university's support when he noticed my sensitivity to the stake.

"Our university spares no effort in supporting startups. Even though research that may not yield meaningful results, they've already provided equipment worth over $200,000. 3.7% is by no means a significant portion."

"Oh, please don't misunderstand. I'm not blaming the university. I just wanted to know the extent of the university's support."

Of course, this wasn't everything.

"The initial funding needed until meaningful results are achieved is $700,000, and the second funding required until commercialization is possible is $1.5 million. Is that correct?"

"Yes."

Professor Shashua, slightly nervous that I might think it's too much, is now fixated on my words.

"And Miracle's stake is 35%."

"Is that insufficient?"

"No, it's reasonable. I'm sincere."

Professor Shashua relaxed and showed a bright smile. He believed that the deal had been sealed.

However, it's appropriate to reject the initial offer, whether it's reasonable or not.