Project Funding

Hello,

What do I require to get "1st round" funding. I have the design sheets for my website and Keynotes presentation ready to go (market figures, pain points, etc). Is it possible to secure funding before going into development?

Many thanks,
Josh

 

Why wait if you can go into development without funding?
The easiest way to get funding is to have customers

 

Th

Thanks Stephan! - Am just wondering though, my concept is a marketplace platform with tracking apps and various other cool features. Would something like this lightly cost more than £5K to develop?

 

Well, I'd need a lot more info to give a proper answer (PM if wish).

However, what I'd be looking for is the minimum functionality to attract the first paying customers, then roll out additional features as the user base and revenue increase.

Something else to consider is what you are willing to give up in exchange for investor participation.

 

Josh have you looked into any local governmental funding?
While you can usually only do this once, it's a good start for really early funding. All you need is a good business plan. I'm just not sure if there are any of these options available where you live.

 

s


Hi Spixels, not I haven't looked at this options yet! Was there any in particular grant you are referring to? (Ps I live in London in the UK) - What type of grant should I be looking for - would it just be for regular business or are there specific tech grants?

Josh

 

Josh,
No need to be limited to the UK for funding.
I'd consider NGO and other international sources, especially if you can demonstrate
that your business provides a way for disadvantaged folks to better their situation.

 

It really depends on what's available in your area. Where I live each subsection of our city has it's own budget to give grants to starting businesses. This is to increase the economical activity in that section.

You should also look into angel.co and start making a profile for you and your business. You can actually ask for funding directly from that site, but I wouldn't suggest doing that until you have enough of a plan and have made a few connections.

You can also look at business incubators which basically ask for equity and they usually give you some start-up money and prep you up for pitching and getting more money. Alot of venture capitalists look at these incubators as a filter that saves them time and they keep an eye out.

Here is a good list of incubators around the world http://blog.launch.co/blog/complete-list-of-incubators-and-accelerators-like-y-combinat.html There are a few in the UK.

Hope that helps!