Here’s How You Can Raise Funds To Build Your Mobile App

by Ruchhir Agarwal CEO at E2logy
“The biggest barrier to starting a company isn’t ideas, funding or experiences. It’s excuses.” - Sarah Lacy

Well, you have to agree with this one.

The same applies on starting anything, be it a mobile app (which I am going to talk about here).

Do you have a million dollar idea for your mobile app launch? Have you been wanting to get your mobile app built but have been waiting for a long time due to insufficient funds? Then I am sorry to say but it isn’t really the insufficient funds that are stopping you from getting your app built. Rather, it is just an excuse and you might simply be a little uninspired. 

What if I tell you there are a number of ways by which you can raise significant amount of funds for your mobile app development? Feeling inspired? Then read on to know some amazing fund raising ideas for your mobile app:

Bootstrapping- Save money and money will save you. Before starting to go on a hunt to search for investors, the least you can do for your own bright idea is to spare some money to invest in it. Raise enough money through your existing job, savings, investments or other alternate business to get you started. Eliminate as many personal and unnecessary expenses as possible. With this, you can save enough money and start contributing to your fund each month starting at least six months in advance.      

Get a co-founder for your app who can contribute and share the responsibility in launching your app. However, remember to pick a co-founder based on your business needs. For example, If you are not very technical, then you should consider getting a tech-savvy co-founder and at the same time one who who can also raise some funds for your app.

Participate in funding contests- There are tons of contests available around the world sponsored by universities, technology companies, angel investor networks and more in which you can take part. The best ideas win money and you can get your development process funded.

Raise funds from your network- Explain your business plan to your friends, family, colleagues, and partners and get them involved to invest in your mobile app development. In return, you can give them a stake in your profits.

Bank Loans- Banks provide small business loans to entrepreneurs who can prove that their app idea is worth and it’s going to bring about a positive change. Do a thorough market research and present a solid and clear business plan so that they approve of your loan.

Angel or seed funding- Tie up with angel investors and strategic partners can offer huge funds depending on your app idea  give them details like the total amount of capital you’ll need for your app, how quickly you’ll burn through it, your go-to-market strategy, how you will promote the app, why do you deserve funding ,etc.

Set up a crowdfunding campaign on the various crowdfunding platforms available, for example, Kickstarter, CrowdFunder, AppsFunder, Indiegogo, PledgeMe, Crowdcube, etc. You can do so by picking up your specific project, deciding your budget and setting your funding target (be realistic here), preparing for an awesome pitch, choosing a crowdfunding platform, starting your online campaign, encourage people to donate in your campaign and share your campaign, and finally keeping your supporter updated about the progress of your campaign.

Raise donations for your app on your website. Describe your proposed app to your readers or visitors and ask them for a small donation towards your app. For this, you can build a donation form and integrate it with various payment processors. In return for their contributions, you can offer them a gift, pre-orders of your app, and monetary compensation once your app rolls out.

Get grants from Government, local authorities, business links and others. However, in order to receive grants, you business app should benefit some parts of the population or the community as a whole.

Build a prototype or a first version of the app by using funds from savings or friends and family and build and launch your app. This will show investors that you’re serious about your business app

You just have to be sure of your app idea and once you can convince yourself that your app is worth investing In, then you can convince your investors as well. Show the investors your app vision, how it is going to help users, the market opportunities and trends, your revenue model, its competition, its estimated growth rate, how unique it is, and its value proposition, among other things. 

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About Ruchhir Agarwal Freshman   CEO at E2logy

5 connections, 0 recommendations, 24 honor points.
Joined APSense since, January 3rd, 2017, From Ahmedabad, India.

Created on Dec 8th 2017 00:12. Viewed 630 times.


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