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Create a Realistic Funding Strategy
When you are at the Idea stage, it's not likely that investors will be willing to invest. Fortunately, there are sources available to the early stage company, and we'll discuss a lot of those sources on Thursday, April 3, at the "Create a Realistic Funding Plan" seminar. We'll also describe the kind of headway investors typically require before they are ready to invest.
The included tool for this seminar: OTBC Sources of Funding graphic and the OTBC Investor Ready Checklist. Here's a preview of some of the funding approaches we'll cover:
- Founder savings, credit cards, and second mortgages - a very common source
- Side project: keep your day job while working on your startup (but be careful of IP ownership)
- Spouse funding: founders work on the startup and rely on their spouses to pay the bills
- Friends and family: loans or stock purchase (be careful to set expectations)
- Customer prepayment: Do a special deal with one or more customers who are willing to pay in advance (but be careful about exclusivity)
- Crowdfunding: one version of customer pre-payment; funds your startup while validating the idea in one step
(but too much success can be a challenge!)
- Grants: Like the SBIR and STTR government grant programs
- Seed funds: Funds like PIE and the Portland Seed Fund will invest (a small amount) at a very earlys stage
We'll discuss all these options - with some warnings about pitfalls and potential issues - on April 3 at OTBC.
Thursday, April 3, 4pm-5:30pm
Location: OTBC (DIRECTIONS)