Business grants

You’ve got the next billion-dollar idea. Or million dollar, or whatever it is. The point is it’s good, and you want to prove its value. This is the stage where most startups die -- which is to say before they even get in progress. Because the most daunting problem to seeding the next big idea is capital.

Most first-time entrepreneurs have heard of venture capitalist firms and angel investors. That’s how Facebook got started, right? So why shouldn’t it be you? The truth is it’s extremely difficult and rare for first-timers to receive funding this way. In fact, by some estimates, less than one per cent of startups are funded by angel investors and a fraction of one per cent by VCs.

Problems finding funding to start a business

When looking for outside funding, many business owners look to friends and family. But do you have friends and family that are able and willing to shell out more to see if your idea is worthwhile? And getting a loan from the bank is a tedious prospect where you may have to put your house or other personal assets at risk. Not to mention there’s the other problem even if you do get funding: giving up too much of your company too early.  You see a big check, give up 50 % of the company, and end up regretting it for the rest of your life.

These are complications that are unfortunately preventing many good, innovative ideas from ever sprouting beyond the back of a napkin. But what many businesspersons don’t know, especially if it’s their first time around, is that there is capital to be had without any strings attached. Here are five ways you can seed your company on the cheap, or even for free:

Government grants

Did you know that you can find grant money to fund your startup on the central, state, regional and even city government level? And they won’t even ask for equity. While what’s offered will vary by geographic location, investing in startups has become a developing model of how the government is enacting economic development. Invest in the next unicorn in the region, and it will create jobs and appeal to talent to the area.

However much money you need, and whichever subdivision you’re in, there’s likely a grant out there that could provide seed money to move your idea forward. And while there will sometimes be certain stipulations you’ll have to meet, for example, extensive reporting and forms to submit, you’ll never have to give up equity or pay back the grant.

Crowdfunding

Some crowdfunding platforms have taken the step of in detail funding startups, while others are simply open to raising money for any purpose. Fundable, founded by former entrepreneurs and focused on raising crowdsourced capital for startups, produced over the huge amount in funding commitments in just its first year. So, if crowdfunding was good sufficient, it might work for you, too.

Accelerators

While you might think that accelerators only agree to take you if you give them equity, that’s not true. Many programs offer the same demanding coaching and resources that equity-play accelerators do, but minus the whole equity part.

The reset on different offers a 4-month, intensive a program designed to equip entrepreneurs with the skills and resources needed to scale their women business grants. There is no cost, and no equity is taken.

Take a look in your backyard and you might be astonished at the programs out there that will help you take your idea to proof of perception at little to no cost.

Universities

Universities offer grants and awards for students, faculty, and ex-students, as well as offer up resources that startups could otherwise only dream of. It doesn’t matter if you’re a freshman or a tenured professor if you have a piecing together to a university that could be your ticket to raising the capital you need without the usual drawbacks.

Life sciences have a tremendously expensive barrier to entry for grants for small business startup, but universities offer the research facilities and can match entrepreneurs with researchers to push their ideas forward. The University even offers its own pitch competition and in cash to fund their idea.