Seed Money to Develop Your Idea
Is there grant money for the "poor" inventor with what appears to be a better idea for a consumer product, store fixture, tool, factory gadget, or the like? NO! Get over that hope quickly.
But there MAY be "free" money available if the idea is truly innovative in some respect, has national significance, and helps a major federal agency meet its mission goals (like defense, health, safety, energy conservation, education, help for the disadvantaged, economic rescue, or the like). Consider applications for your idea like these, where there might be federal funding that results in a cash-flow product first, which then supports related products or applications.
Before describing routes to funding for-profit businesses based on significant innovation, we will briefly state that there are a plethora of grants offered to
not-for-profit organizations by private foundations and corporations - mostly for purposes of education, health, or overcoming social problems or economic deprivation. The best resource we know for finding funds for these
non-profit efforts resides in the
Boise Public Library Funding Information Center. The Center also sponsors an annual week-long course in grant writing each May, designed to acquaint first-timers with the grant writing process and help them prepare quality proposals. For information, call (208) 384-4024. There are similar good centers at the Caldwell Public Library Reference Desk, (208) 459-3242, the
Eastern Idaho Funding Information Center at the Marshall Public Library in Pocatello, (208) 232-1263, and the Spokane Public Library Foundation Center at the downtown library, (509) 444-5336.
Seed Money:The Big Picture
Angel Investors
Smaller Regional Venture Capital (VC) Organizations
R & D Grants
Beyond the Seed Stage