Do you have an idea for an amazing app, but you have no idea how to go from idea to reality? The inspiration for your app is just the beginning of your journey. After that, your challenge is finding the best top app funding sources to get your app quickly to market.
The highest hurdle many app developers face is the enormous cost of production. Without the backing of an established partner, many developers find they are at an immense disadvantage and close up shop before seeing their idea come to fruition. Don’t let this be you!
Investor App Funding Sources
Finding a business partner with deep pockets can be one way to handle the expenses, leaving you to do what you do best, develop. Although this may sound simple, be sure to iron out every last financial detail before entering an agreement with any business partner. You should also get your agreement in writing and have a legal professional provide advice.
Fundraising with an Angel Investment Network is a method you should explore. The definition of an angel investor, according to Investopedia, is an affluent individual who provides capital for a business startup, usually in exchange for convertible debt or ownership equity.
Angel investors may not be as difficult to find as once thought. The internet simplifies the process to find registered angel investors looking for projects to invest their capital. If you’ve got a strong business plan and are prepared to surrender a fair amount of equity, angel investor app funding may be an option for you.
Friends & Crowdfunding Platforms
Another less complicated way to get your app off the ground is buddy funding. If you have a vast network of friends or family, this method may work. You sell shares upfront, and when all goes well, friends or family reap the rewards of your success. But be prepared for any disappointing financial news and make sure your buddies are aware of the risk.
Crowdfunding is similar to buddy-funding, but the difference is that with crowdfunding, you don’t actually know the person who is investing in your project. Crowdfunding is probably one of the most common strategies an individual or solo entrepreneur uses to raise money. Personal, online funding websites allow you to post your pitch out to the public for small investments. Most donations are protected and it will give you a sense of how popular your app might be.
Loans for App Funding
If neither of these funding platforms works for you, don’t let your revolutionary app idea die on the vine. Deciding to bootstrap and go your own way might not be as difficult as it sounds. Searching out other possible funding sources, like the excess cash from your student loans, might be a shining light at the end of that dark tunnel.
A Whole New (Apps) World
Cloud based and mobile apps have changed the world. There’s a huge market in the US, but globally as well. According to the Bureau of Labor Statistics, competition is fierce with industry growth in the US expected to climb 22 percent by 2022. Once you find the best app funding sources to develop and market your great app, you’ll have a much better chance of getting your share of the growing app market windfall.
