Funding for Inventions

February 3, 2011

Get real!!! Unless you have some “skin in the game”, there is no funding available for inventions. It is not going to happen. Once you have patent pending (provisional application on file is OK), professional preliminary marketing opinion/research, and a working prototype to prove the concept, even your own family and friends will not invest. Get out your checkbook and start making things happen!

After you have paid for professional services (patent attorney/agent, functioning prototype, and marketing research) and verified that you have a viable product, you may be ready to approach friends and family for additional funds. At that point, you will need a polished and very persuasive presentation outlining why it is reasonable to assume that the product will generate revenue sufficient to pay the investors back, plus give them an appropriate return on your high risk investment.  Another word of advice, don’t waste your time and money on expensive business plans at this early stage….too much smoke and mirrors.

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