Please upgrade your web browser

These pages are built with modern web browsers in mind, and are not optimized for Internet Explorer 8 or below. Please try using another web browser, such as Internet Explorer 9, Internet Explorer 10, Internet Explorer 11, Google Chrome, Mozilla Firefox, or Apple Safari.

AdvisorNet

How or where can I find grants or similar financial assistance?

Veteran

Fabien Edjou Menomonee Falls, WI

In one of the multiple books that I have read, the author suggested to “Commit first, and then figure out later.”

I am proud to announce that a provisional patent application has been filed for my invention. I currently have a fully executed Option Agreement with the UWM Foundation and we are finalizing the licensing agreement.

Meanwhile, I have been extremely fortunate to have a fully executed Partnership and Investment Agreement in place with Brooks Stevens, Inc. a local Industrial Design company. They’ve committed to a S.A.F.E. (Simple Agreement for Future Equity) investment to the amount of US $21,000 towards the production prototype of my device, I am responsible for the other US $21,000. Based on our current timeline, the production prototype will be ready no later than June 1, 2018.

At this time, most banks are saying that the $21,000 is a very small amount for a loan, I’ve tapped out my friends & family to get this far.

I would like to know if anyone knows possible grants that I can apply for or any other possible suggestion for honoring my financing requirement. I learned that it is good to “commit first and figure out later”, and by signing this SAFE I’ve done just that, now I am trying to figure it out.

Here’s the link for learn more about my product: https://www.linkedin.com/company/leanvo/

Thank you very much!

27 March 2018 2 replies Small Business

Answers

Advisor

Phil Marcoux Mountain View, CA

The last company I started focused solely on creating patents and licensing. We created over 44 patents.

Even though we patented something which is now universally used in every cell phone with a camera we ended up spending 5 years in court and spending millions.

I'd be happy to give you some tips on licensing and the potholes you may encounter.

Whichever author suggested that you commit first is crazy! - learn and then plan, and then plan again - then if things look worth it then commit!

Advisor

Erik Schlacter New York, NY

Fabien,

First and foremost thank you for your service and thank you for posting this great question.

After doing a little research, I stumbled across this article on NerdWallet.com:

https://www.nerdwallet.com/blog/small-business/small-business-grants-for-veterans/

Reach out if you have any other questions or if you'd like a tour of ACP AdvisorNet!

Sincerely,
Erik - ACP Staff

Your Answer

Please log in to answer this question.

Sign Up

You can join as either a Veteran or an Advisor.

An Advisor already has a career, with or without military experience, and is willing to engage with and help veterans.
Sign Up as an Advisor.

A Veteran has military experience and is seeking a new career, or assistance with life after service.
Sign Up as a Veteran.