I sold my apartment, cashed out my pension, and took on debt to build a semiconductor startup. I'd do it again.
Hans Hasselby-Andersen quit his engineering job during the 2008 financial crisis with four kids and spent a year raising his first funding.
Hans Hasselby-Andersen, CEO of Danish semiconductor startup Lotus Microsystems, shared his story of starting a company during the 2008 financial crisis. He had four young children at the time, making the decision to quit his job at Texas Instruments a big one. To fund his venture, Hasselby-Andersen sold his apartment, cashed out his pension, and took on debt.
It took nearly a year to raise his first funding, which amounted to about $150,000 to $200,000. He traveled to Japan, South Korea, and Singapore to meet potential customers and validate his idea. After nine years, Merus Audio, his company, was acquired by Infineon. Hasselby-Andersen admitted that his decision to start a company at 40 made him a different kind of founder, but he felt more comfortable with the startup life.
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