how to get funding for your mobile app ideas?

How to get funding for your mobile app ideas?

By Sandip Modi on 27 Oct, 2017

Getting funds for your app is a difficult thing. After all, who would like to risk their money on something they are uncertain about? Without a rock solid business plan or probably a previous development experience, it is quite a challenge to find funds. But this doesn’t mean one should be discouraged. There are certain app categories that have higher chances of receiving funding. These apps fall into the categories that include social networking apps, big budget games, and absolutely raw and original ideas. Your brilliant idea and on paper app needs to go out but before you must get funding. Here are a few ways you can get funding for your apps.

1. Crowd Funding

The best thing about crowdfunding is that you can get it easily and there is no seed funding required. All you need to do is present an idea that appeals to the masses and asks for minor investments. Once you pitch your idea to the crowd, they show interest and make investments that generally makes them the shareholder or a free copy of the app when it is finally released.

All you need is an idea, setting an end goal which is the final release of your app and a financial target. The only disadvantage is that you will need to return the money to the crowd if your financial target is not met.

2. Bank Loan

A friend in need is a friend indeed! No matter what you can always resort to your friends and family if you need help. The investors are within your network and while it may seem like a good idea, this is a very risky way to go. There is a reason behind the saying- always keep your personal and professional life separate.

3. Buddy Funding

A friend in need is a friend indeed! No matter what you can always resort to your friends and family if you need help. The investors are within your network and while it may seem like a good idea, this is a very risky way to go. There is a reason behind the saying- always keep your personal and professional life separate.

4. Venture capitalists or Angel Investors.

If you have a concept or an idea, or an on a paper app, Angel Investors would invest in you. All you need is a prototype of your app if possible. If the venture capitalists or Angel Investors believe in your idea, they would fund you.

5. Business partner or Co-founder

Having a business partner or a Co-founder is a great way of funding yourself. If you have money but just not enough to start your business, you can consider relying on a co-founder who is willing to invest and share the risk. Also if you are not technically sound but you know the nuances of the business, the co-founder can make up for the technicalities. What’s best is that you will have at least one person who will strongly believe in your idea.

It takes a lot of research, time, ideas and commitment to make your idea successful. Zero out on a funding idea and you are all set to go.


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