Inventors who fail to acquire funding struggle to get their idea moving after conceptualizing it. As it is, innovations take an immense amount of time to arrive as salable products in the market. Inventors need a solid funding strategy to realize their invention and make it a commercial success. If you’ve decided to submit your invention ideas to angel investors, you may want to make a first good impression that earns you subsequent meetings and the six or seven figure amount you seek.
So, how do you market your novel idea effectively? Here are some useful tips.
1. Create a powerful executive summary and business plan
How will your invention be utilized and perform in the real world? Your business plan and executive summary should sum this up compellingly. An invention is, by virtue, an exciting proposition for an investor. The last thing you want to do is make it sound boring. The golden rule to submit your invention ideas is to create an emotional connect with the angel investors you’re presenting to.
Though this may sound difficult, it doesn’t have to be. Besides drafting a solid, well-structured business plan and a powerful summary, you’ll need to take angel investors through the key parts of the plan that you want them to absorb. So, it helps to brush up on your presentation skills and give angel investors a good reason to invest in your invention.
2. Provide a clear value proposition to submit your invention ideas to angel investors
Your positioning statement should explain why your market needs your invention or how your idea can shake up/disrupt the market like never before. You must state the value proposition concisely and precisely. It is critical to help angel investors understand the value and differentiation, so they can more easily judge whether or not your ideas are worth their investment.
The value proposition should do the following:
• Explain how its solves an important problem or improves a situation
• Outline the specific benefits
• If possible, it should tell the ideal customer why they should buy from you
At the very basic, a value proposition consists of a headline, sub-headline or 2-3 paragraphs, a few bullet points, and accompanying visuals. When you submit your invention ideas, create your pitch in simple words, and ensure it is read and instantly understood in less than 5-6 seconds.
3. No confusions
An angel investor will potentially receive a number of inventions of which he can pick only a few. That makes it doubly important that your business plan provides all pertinent details and clear assumptions. Make it clear to the angel investors how much money you need, where investments will be allocated, and what the funding will achieve for them.
If you have a great concept you’re trying to get from the drawing board to the marketplace, you can have all the ambition in the world, but you won’t get very far without funding. Activation Investments is looking for medical companies to invest in today!
Tags: Angel Funding for Inventions, Invention Funding
March 9, 2017 5:39 pm