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Inventors
Turning an Invention Idea Into Money
Lesson Ten:  How Do I Raise Money?
 
Advanced and Additional Lessons
Invention Funding
Invention Funding
SBA Workshop on Finance
Venture Capital 101
Raising Start-Up Capital
Venture Capitol Forum
Fee based course
By Mary Bellis

If you have absolutely no money and you want to get your invention into the marketplace, it is very likely that you will not be able to turn your invention into a commercial product. By no money, we mean someone who is unable to earn money above living expenses, raise money, or borrow any money. However, if you are willing to work, you can find an opportunity for yourself. The most fundamental piece of advice I would give a newbie trying to raise money for his/her invention is this; conduct yourself in an appropriate businesslike manner. An email inquiry asking for financial support penned in an informal manner and full of grammer and spelling errors will get no response. The same goes for badly penned snail mail and muffled or confused sounding phone calls.

Below are several different sources of invention funding that you can approach to borrow or raise the funds needed to bring your invention through the several stages of the invention process and to the marketplace. It is suggested that you could join a local inventors group to learn from those in your area who have already accomplished what you hope to accomplish: raise money, find backers, get a patent etc.

  • Venture Capital & Technology Incubators - Venture capital or VC is funding invested, or available for investment, in an enterprise such as your invention that offers the probability of profit along with the possibility of loss. According to Whatisit.com, "Venture capital is the second or third stage of a traditional startup financing sequence, which starts with the entrepreneurs (inventors) putting their own available funding into a shoestring operation. Next, an angel investor may be convinced to contribute funding. Generally an angel investor is someone with spare funds and some personal or industry-related interest - angels are sometimes said to invest 'emotional money,' while venture capitalists are said to invest 'logical money' - that is willing to help give the new enterprise a more solid footing."
  • Grants, Loans, and Government Programs - Community of Science (COS) funding and grant opportunities for research and development, the Defense Department's SBIR and STTR programs, the Department of Energy (DOE) grants, the National Institute of Health grants, SBA procurements and grants hot list.
  • Student Programs for Invention Funding - Student programs and invention competitions - includes college and pre-college programs.
  • For Canadian Inventors - Research our links for Canadian invention funding, innovation information, research money, grants, awards, venture capital, support groups and Canadian government patent offices.
  • Entrepreneur - It is quite an undertaking to manufacture, market, advertise, and distribute your own invention or intellectual property. Ask yourself, "do you have the spirit necessary to become an entrepreneur? If the answer is yes - here are the resources to self-educate yourself in the art of becoming a successful entrepreneur. 
Next page > Resources
  • Introduction
  • Lesson 1: Understanding Intellectual Property.
  • Lesson 2: What can I Patent
  • Lesson 3: How Do I Know if my Idea is Patentable
  • Lesson 4: Conducting a Search for Prior Art
  • Lesson 5: To Patent or Not to Patent
  • Lesson 6: How to File for a Patent
  • Lesson 7: Proving this Idea is Mine.
  • Lesson 8: How Do I Make Money
  • Lesson 9: How Do I License My New Invention
  • Lesson 10: How Do I Create a Business Plan
  • Lesson 11: How Do I Raise Money? 
  • Resources
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