The problem with finding money to sponsor your ideas

So I have been having great ideas for new inventions. Not all of them are brand new, many of them are just little tweaks or improvements to existing products. I do really well analysing the Market and figuring out what needs to be tweaked, and I am quite sure of my abilities and the potential of the inventions ideas.  My problem though is when I get to the actual development stage – either patenting the invention or preparing an actual product for sale. It is *bloody* expensive! I fully understand that if you want to make money, you probably need to invest money first, but think of all those great ideas going to waste!

So I have been spending some time recently trying to come up with sources that could fund my invention development hobby. Basically trying to look and find the best sources to get free cash, or some sort of subsidy that will make me able to get the basic funds involved in getting a lawyer, applying for a patent or even just creating a prototype. Here are the best sources I found:

 

Grants.gov  – is the go to place for government sponsored grants. A lot of what they offer is not necessarily geared towards the individual just coming up with a product idea, but it’s a great resource to learn about what is available and what is worth looking into.

Inventions-handbook.com – This site is geared for the first time inventor and there is loads of really useful information in there to help anyone looking to develop a career in inventing. Their page on inventions grants is a particularly great resource, and it looks like it is being updated quite often.

How to write grant proposals for your needs – Finally this page on wikihow details the process of writing grant proposals. If you are lucky enough to find the right grant that could be used for your invention funding, than it’s a good idea to educate yourself on what is the best way to actually win a grant.

And finally here is some inspiration – CNN is covering some government funded inventions that proved more than worthy of the funders money. Who knows, maybe yours is next!