Last year we work on a small idea. It's an app. We build our first working prototype. You can use it on your phone. Now needed some funds around $1M to do the rest of the development and launch big. So search for equity crowdfunding. Talk to several people and fix one platform. We finish our executive summary. The website(landing page type) is under construction maybe come up within a week. The crowdfunding platform is very excited about our business model. They love to work with us. Now the problem is to start the campaign we need some initial money. We spend whatever we have but still a shortage of $12k-$20K. We think to sell some share for this $12k-20k. Like split into 10 sit(some share) and whoever wants to buy a sit, he or she needs to invest $2k for the company. Now the question is, where should I approach to sell these 10 sits? Or is there any other good and easy way to raise this $20k? We want to start our crowdfunding campaign as early as possible. The company is registered in the USA. We love to welcome new investors/members to our team.
This is normally the area where people say to speak with friends and family. If you don't have friends and family, you need to look elsewhere. I am the founder of SymbyTech and we are a start-up in the maritime and oil & gas sectors. We develop our own multi-functional robotic devices in order to conduct services. We too started developing a prototype / MVP and find ourselves in need of seed funding in the same monetary region as you are seeking. We considered crowd equity funding too through platforms such as The Investment Network (South African platform), Hybr, and other similar. One thing I would strongly consider is making sure your partners, investors, or others, align with your interest. I know my response may not provide you with a clear answer but perhaps something to consider and to know that there are others out facing the same challenges. Good luck
Sure, I just send a connection request. Talk to you there.
Thanks, Grant for your response. I visited your website. Good wishes for your work. You know the development cost is high. I already take money from friends and family. After several sprints, the first prototype is done. Whatever money spend, I afford it from my own account and friends and family connection. Now is the small part remain which I can not able to manage. Raise $10K-20K and go for a campaign to raise more money. I badly need that small help. I am not asking for free money. I love to share some equity.
It is really difficult to find anyone who understands the same sector. You know I wasted my 1 month of time to understand someone. I think he will invest that small amount when he will understand the process. He is not in the app business before. I try my best but he every time comes with some bad idea. Not even understand what actually we do and what is our opportunity. I have respect for him but you know in the end I do not get a single penny. It still ok for me if he at least understands what we do. Whatever it's really difficult.