Fund raising

  • Ryan Grabow

    Member
    December 7, 2020 at 4:16 am

    I think a great resource is the federal government. There are surprisingly many grants available for companies dedicated to specific areas of focus. Some grants target women and minority owned businesses, etc.

    The benefit of grants is that the owner is not giving away the farm. Grants do not give ownership. Obviously self-funded is a great option but is not often possible. Family and friends are a source but can make for awkward Holidays or trips to the doctors lounge.

    I think an important factor that most new entrepreneurs need to know is that when asking for money, ask what else the funder can provide. Just like on Shark Tank, many investors have a network of companies or their own businesses that can provide needed tech, marketing, or other essential service to help get the “new company” up and running faster. They are getting a piece of the company as an investor so they have a reason to help smooth out some of the inevitable bumps in the road.

  • Vinod Dasa MD

    Member
    December 7, 2020 at 4:24 am

    a check vs a strategic