One common and difficult part of the startup journey is getting access to the money needed to take a concept to commercial.
Innovators often struggle figuring out what type of funding to seek, given where they are at in the startup process. In the startup community, innovators typically obtain funding in the following order:
- Self, friends and family
- State and Federal funds
- Angel investors
- Seed investors
- Other private investment firms such as venture capital firms
If you don’t have a mentor to help you through this process or don’t know what type of funds you should be seeking, please obtain expert guidance here.
If you’ve exhausted your own funds, friends and family funding options and are looking for other potential early funding options, HighTech Connect Iowa suggests you discuss the following potential options with your mentor:
- Federal Funding Sources including for R&D and Proof of Concept
- State Commercial Funding Sources
- BioConnect Iowa’s SBIR/STTR Outreach Program: professional proposal assistance and matching financial awards to approved applicants
- Demonstration Fund
- Proof of Commercial Relevance (POCR) Program
- Early Stage Private Investment
- If you’re unsure as to whether this type of funding is right for you at this stage in your journey, we recommend you Get Guidance first.