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Stage 2 Sources of Ransom Feeding the Army.
Government
SBIR mission is for technology transfer:
· Grants - Getting one of these grants does two important things. Money, of course, but more importantly success in obtaining one of these grants gives your company an outside source for concept and technology validation. Outside of a paying customer, you can't get better. Money anytime. · Loans – these are only of use if you have a product on the market on the market or you are using the funds to put a product on the market.
NIH, NSF, DOE etc.:
· Likely this was how you financed the initial R&D. · Still available for specific projects especially if you maintain a relationship with an academic institution. You just have to be careful with the University’s Tech Transfer Office and patents.
Private
Business Sources · Private family & Friends – earliest money · Angels – early money · Institutions – middle / later money · Venture Capital – middle late money
Foundations:
· They will fund early R&D activities. · They generally don’t finance product development programs.
Partnerships & Collaborations & Consortium:
· Presently a good source for middle money · Provide early access to the technology to existing companies with a vested interest · There is no Auto-pilot, making these relationships efficient, effective and profitable is hard work. Individuals from both sides need to be interested and dedicated to the projects success. If no one has time for such relationships, it is better to not do them.
Mergers & Acquisitions:
· Generally, a middle or late money fund raiser. · Need to have a validated technology that people are very interested in. · Need a market buzz.
IPO (Going Public)
· Late money · Need a good Wall Street environment for your business sector · Need a hot product
Bank Loans:
· Middle / late money · Only used when you have a product or service that needs to get into the market in the next few months.
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