How to get funding for your technology development project
Getting funding is never easy, but it is definitely something that needs to be done.
Starting any kind of technology development project means investing.
Luckily, the great thing about technology-driven projects is that they are technology-based, and that is something that drives high investments.
Every business needs some kind of technology, and they need extra technology if they want to grow.
To invest and get the most from tech and tech-related projects means finding the right fun. Here is how to get one.
Think About Government Assistance Program
Government assistance programs are continually in great demand, especially if national strategy focuses on hiring more people, or boosting the industry.
This is why thinking about government assistance funds is always a great first step. However, many get lost in long procedures and operations that they tend to give up before they even get to the CDAE tax credit, which is a refundable tax credit for the Development of E-Business, and a great way to grow any tech-based project stress-free and with focus on overall growth.
Writing Proposals That Get Funded
This move may sound like a mission impossible, but in reality, it actually gives results.
All you need to do is to hire a great gran writer and assemble a great team.
For a grant writer to do a proper job, you should provide the right kind of information, to make sure that person has great control over the English language, and that comes with extended writing experience.
Next to a grant writer, have a small team of people with different expertise who can help with writing.
Think About Crowdfunding
While your grant writer is there to focus on getting national or private funds, use your team to create a strategy for how to create the best crowdfunding campaign.
Crowdfunding has become not only a popular, but also an effective option for getting needed funds.
The great thing about crowdfunding is that you can get more money at the same time, as anyone can pitch in.
Choose the best crowdfunding platform for your project and see how you can communicate what you can do for the community.
Five Great Sources For Your Technology Development Project
- Find and approach angel investors
- Approach business incubators & accelerators
- Participate in tech-related competitions and win
- Think about pre-selling your product
- Think about venture capital
Last Think About Bootstrapping
Do you know what bootstrapping is?
Bootstrapping is when you invest your money into funding your tech development project.
Not only that, this will cut unnecessary documentation and long procedures, but it is the healthiest way to deal with business, as you won’t have any loans.
If you start this way, you will be more confident to loan later on and return the money on time without major losses.
Self-funding means investing your money, but it doesn’t have to be all of your money.
Your friends, family, and co-workers can pitch in and support your fists step, without so stressful interest rates.
Plus, this will be a great mental boost as well – is there better support than your loved ones showing that they believe in you?
