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How can i get funding for an invention?

Veteran

Leon Banks Houston, TX

I've got an invention and it's already been submitted and excepted by a development company. I'm looking for help with my portion of the development costs. I need resources to help me get this invention to the development phase and then to the market. If anyone knows of ways to get assistance, I'm all ears. I know this site is for people looking for employment, but because of my situation and disabilities I've resorted to my creative skills and knowledge. Help.

8 September 2017 4 replies Career Exploration

Answers

Advisor

Rephael Inbar Aliso Viejo, CA

Hello Leon,

Thank you for your service.

Depending on the type of invention, and especially if it's consumer oriented, you might find luck on one of the crowdfunding platforms:

www.kickstarter.com
www.indiegogo.com
www.gofundme.com

and others...

These platforms have been responsible for funding many inventions and new products.

Take a look and let me know if I can be of further assistance.

Best to you,
Rephael

Advisor

David Eastman Gresham, OR

Dear Leon,

Thank you for your service. I have helped manage, launch and consult with 26 start-ups and a great deal of that time was spent raising money.

I think what Reginald Nickens was eluding to in his answer was the fact that every single government agency has 2.3% of their budget allotted for granting money to small and large businesses under the Small Business Innovation Research Grant (SBIR) program. This money is available to any one who applies if you meet the grant criteria. You can go into any government agency website and find out information about their available grants. You can also go to grants.gov which list thousands of grants being sought and available by government agents.

Depending upon your invention, you can also seek money from the National Science Foundation (NSF) and these grants, much like the SBIRs, range in amounts of $250,000 to several million dollars.

You could also list your invention on line and seek money from funding sites, like GoFundMe.com, KickStarter.com and a host of others.

You obviously could seek money from friends and family, bootstrap it your self with your own money, seek an angel investment if you are only seeking about $50 K to $300 K, or present your product and company to a venture capital firm for some more serious money and an equity investment, from $300 K to $50 M.

Other ways of launching your business is to find a strategic partner willing to put up the development money for a share of the company. That share does not have to be 50% but they may want it to be at least 25%, depending on how much money they put up.

Raising money is hard but not impossible and you just have to work hard at it.

i wish you much success with your product and company.

Regards,

David Eastman, CEO, US Navy Veteran, ASW Avionics

Veteran

Reginald Nickens Silver Spring, MD

You be surprise to know in the Constitution (do not know what article but it is in there) that the United State is suppose to fund any invention or science. The first place would start would be your congressmen but read up on the Constitution to find what article it in. In my time in politic, politician will not fund any project if there no plan or the project does not fit the need of the public or you are not a friend (know him or her personally), wanting to obtain an grant for an invention you have to research the politician to be funded, which they fund companies all the time because it is in the Constitution for the United States to fund research. Benjamin Franklin and Thomas Edition was inventory most large companies, for example General Electric funded by the Government also Bowen.

Advisor

Andrew Klarman New York, NY

Hi Leon,

Thank you for your service and for using ACP AdvisorNet!

Try checking out this website, there are tons of options on how to receive funding for inventions: http://smallbusiness.chron.com/grants-inventions-18158.html

Let me know if you think I can provide you with any other help!

Andy

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