How do you find funding for your idea?

[twoface262]

Hello world! This is my first post. I've been on this forum for awhile perusing the threads while working diligently on a new product I'm developing.

I'm currently in the late stage prototyping phase (Have a fully functional prototype and I'm ready to show it off!), but I don't know where to go from here... My prototype is fairly polished as I've spent the last year in the dark lonely dungeon developing it. I like the idea of finding an angel investor or going for series investments, but I have no idea where to begin.

Do you normally go for series investments? crowd funding?

I know it's very product specific. I've created a new fitness wearable (yes another! But this has a several appealing niches that no wearables on the market have).

Thank you all, and I apologize if this is in the wrong section. I'm new here!

 

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[WJK]

Hello world! This is my first post. I've been on this forum for awhile perusing the threads while working diligently on a new product I'm developing.

I'm currently in the late stage prototyping phase (Have a fully functional prototype and I'm ready to show it off!), but I don't know where to go from here... My prototype is fairly polished as I've spent the last year in the dark lonely dungeon developing it. I like the idea of finding an angel investor or going for series investments, but I have no idea where to begin.

Do you normally go for series investments? crowd funding?

I know it's very product specific. I've created a new fitness wearable (yes another! But this has a several appealing niches that no wearables on the market have).

Thank you all, and I apologize if this is in the wrong section. I'm new here!

Have you tried to nab some clients? Have you built a web page? Have you rented a booth at a street fair or craft show? Have you tried to sell some to friends and family? You need some sales. You need some feedback. You need a track record BEFORE you look for financing.

 

[woken]

There’s different routes you could take.

In your case, I’d go with a crowdfunding campaign.

You need money for that as well, but that could be bootstrapped.

 

[twoface262]

There’s different routes you could take.

In your case, I’d go with a crowdfunding campaign.

You need money for that as well, but that could be bootstrapped.

Thank you for the responses!

I haven't revealed it yet as I'm still wrapping up the prototype.

How polished should it be before I take it to trade shows, conventions, etc?

Since it's a fitness wearable, I was planning to go to fitness and lifting meat-ups. I made it for any type of fitness activity, but more specifically weight lifting and long running.

The body for it is currently 3D printed, and while its functional it's definitely not polished.

I guess, I'm trying to figure out the best route. It would be nice to have some kind of investment to solidify some features that will need white papers and maybe small studies to fully iron out accuracy (although the tech exists and has already been proven).

If I went the crowd funding route, what are the timelines people typically look for? How polished should the end product be?

What about finding an angel investor? Do investors always look for incoming revenue before investing? What about the companies that receive investments while they're still in the prototyping phase?

 

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