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Anonymous Poster

Financing for MASS PRODUCTION

11/07/2009 11:52 PM

I have a finished prototype for a biometric application, I need to find out how to get financing for mass production. Being I we are only a group of 5 individuals working on this. Any help or advice is helpful.

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Anonymous Poster
#1

Re: Financing for MASS PRODUCTION

11/08/2009 5:17 AM

First patent it. A lot of companies search for the patent registers.

You can put it on the Globalspec and other similar sites including the CR4 commercial space.

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Guru

Join Date: Oct 2008
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#2

Re: Financing for MASS PRODUCTION

11/08/2009 11:40 PM

Attract a 6th individual to your founders team. One who knows something about running a business. Good luck; you're going to need it. ............Ed Weldon

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Guru

Join Date: Feb 2006
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#3

Re: Financing for MASS PRODUCTION

11/09/2009 3:21 AM

Contact Goladman Sach,Barclays, and call the Government looking for business lenders . The Government Economic Devolpment Offices will have contact numbers for you.

Once you fill out an application with your business plan included copy and keep that copy of each application form you fill out.

After each interview you can note chages they suggest or fix problems the money people see and you can send in updated application to other fiance groups.

Getting fiancing is a learning process as much as it is a problem solving process.

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Power-User

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#4

Re: Financing for MASS PRODUCTION

11/09/2009 5:15 AM

I cant give any really helpful advice but a couple of comments

Don't get too precious about keeping the equity. Obviously don't just hand your idea over but a mass producer might want a cut

I don't know where you are but in the UK is a programme called Dragons den. You could go on this although I think your idea might be a bit too techy but at least if you watch a few episodes you will get an idea of the questions they will ask what the money peoples thought process is etc. (Dragons Den was originally Japanese so I assume its world wide now)

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Guru

Join Date: Feb 2006
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#5

Re: Financing for MASS PRODUCTION

11/09/2009 6:01 AM

Apply for a Government Grant

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Anonymous Poster
#6

Re: Financing for MASS PRODUCTION

11/09/2009 12:06 PM

Congrats- you actually have something that works!

Here are some suggestions (in order):

1. Protect the IP.

2. MAKE SURE YOU HAVE A MARKET AND CUSTOMERS WILLING TO PAY!! (especially true for this economy)- if you can get conditional orders- so much the better. If you are trying to "push" a technology, it will be a great deal more difficult to get started or even attract an investor or bank.

3. Bring on someone who will help in operations- you might approach high-tech incubators for assistance.

Good Luck

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