The idea is there, not just in your head anymore. You have the ideas and what you want it to become. What are the options now? Money for development is always a good place to start.
Going it alone can be tough, however if you have some start-up capital of your own, this can take the heat out of some situations that can arise further down the line. For instance, the kudos you receive when you start going to the big venture capitalists in order to grow. If you use cash of your own or that friends and family help with, it is looked upon favourably, as though you are the real deal.
In the internet age, there are more and more options. Firstly, let’s look at crowd funding options as they are new and exciting, plus may be easier in the short term. This comes in the form of donation based (in return for perks like tickets or gifts etc.), or investment crowd funding where your company will sell equity ownership stakes within the company. Thus far, it’s still pretty new and the outcomes of this method have yet to be determined to the full.
Venture Capital – we can already see the faceless suits and hear the jeers and hissing from the wings! Venture capital can be very useful in terms of technical and managerial help that come with the cash.
We at Intuitive Medical, can also help. We look to make sure that the viability of the project is not compromised by providing technical support, mentorship where needed and an vast network of service and professionals who can help each step of the way.