Inventors often fail because of funding – tips and tricks

Successful inventions – everyone must think immediately of the light bulb. But there are in fact not many inventions that can achieve a comparable level of success. One good idea is by no means enough to shake the world to its core.

For creative inventors, there are numerous stumbling blocks and problems that, at worst, doom the venture to failure. However, there is usually a problem with the finances, because when it comes to financing an invention, many people are rather critical. It takes patience and a lot of money to have a chance to turn an idea into an invention.

Fortunately, in terms of funding, there are definitely options that make the path a little easier.

Away from the companies and towards the inventors' association

As a freelance inventor, it is not advisable to turn directly to large companies and hope for a lender there. Thus it becomes with the financing usually nothing. The companies are usually quite well positioned with their own inventors, and it would be a real miracle if they could be outdone. Moreover, especially laymen usually have little idea how proper negotiations should look like and what to pay attention to. That is why experts also advise to contact the inventors' association. There are numerous experts there who not only provide consultants, but of course also know exactly what financing is conceivable and how inventors can get it. Finally, sooner or later, every inventor has to deal with funding.

Fund creatively with crowdfunding

Most creative people know the principle of Corwdfunding for a long time, because it has already proven itself with many inventions and companies. This solution is to support creative projects in a very unique way. If you have an idea, you just have to present it and sell it well, because then the financing is often already arranged to a large extent. There are a few projects that have already had their first successes with the help of this community. There is hardly any risk to fear. At best, it could happen that not enough money can be raised. But that is it. This contribution by svenvonloh.de provides further information.

Private loans as an alternative

If, despite everything, the previously mentioned funding solutions don't work, there's usually not much left to do. Often, the next step is a personal loan. But even here it is increasingly difficult to get this loan approved at all. Moreover, the risk must be borne alone. If the project fails, the inventor is left with the debts.