How To Get Your Big App Idea Funded in 2019?

How To Get Your Big App Idea Funded in 2019?

Of late, there has been a sudden change in the way ideas are brought to realization. That change is called funding. So this is how things work in the modern world - you’ve got an idea, you think it has the potential to revolutionize the world, all you need to do is head over to the people whose main job is to hand over the capital to you so you can bring your vision to reality. The mobile app development industry is no different. The best startups of past decade all sought funding in one way or another. So what are the various funding methods available to a startup founder? Read on to find out the answer: 

1. Friends And Family 

This has to be the most obvious and immediate means to raise funds. As per a popular crowdfunding platform Fundable, as many of 38 percent of startup founders look to their friends and family when trying to raise funds for their business. But getting your family and loved ones close to your personal ambitions brings its own set of challenges. You risk damaging that special relationship if things don’t work out as planned. The best way to make this option work is to establish a relationship with them as would with any other investor. Work out a formal business plan and clearly define how the money will be spent as well as the risks involved in the process. 

2. Crowdfunding 

If Friends and family aren’t something you want to count on, then Crowdfunding will come as a great option to get the funds you seek. Also, founders who want to negate the risk of being ousted by shareholders who have major shares in the business prefer this platform. Getting up and running with Crowdfunding is really easy. You create a campaign, wherein you describe your app idea and the funding goal - say a $50,000. The campaign is open to everybody, and all can chip in with whatever sum they see fit. This way the whole risk of procuring funds from the single investor with a major share in the business is negated. You do, however, have to pay a certain percentage of the funds accumulated to the platform that you use to create the campaign.

3. Angel investors 

Other than the aforementioned sources of funding, there’s a dedicated class of investors, called Angel Investors, who make their living offering funds to startups. They can join in as individuals or syndicates, bringing in sums anywhere between $25,000 - $100,000 and sometimes even more than that. But money is not Angel Investors have to offer. These people are vastly experienced and have a good memory of what makes businesses thrive and collapse. They can offer expert insight into key areas of your business and once you both start working on the same wavelengths there’s a good chance they’ll help in attracting other investors whenever there’s a need.

Final Thoughts 

Well, those are some of the means through which founders can secure funding for their app idea. Interestingly, an advanced mobile app development company can also prove beneficial. These entities have a long and reputable experience in the industry and have connections with major investors in the market. If you’re lucky, you may find all your app funding and development needs fulfilled at a single shop.