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Author Topic: New Invention but Short on Funds...Looking for Advice (not your money)  (Read 1383 times)

rsracing

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I am completely new to inventing and to the patent process, however I have done some homework and have seen a patent lawyer. I want to pursue my idea but unfortunately lack the funds that are needed.

 Any advice on government funding, etc. to help get funds to get my idea off the ground? Or is there a past post that will help explain?

Thanks!
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bleedingpen

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I am unaware of any government grants that you will be able to get for funding.

Angel investors or friends/family are your best bet.  Good luck.
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Yak

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bleedingpen is spot on.  Unfortunately it is often times very difficult for an inventor to find investors for the development of an unproven idea.  The few inventors I have worked with who have found success in their inventions have borrowed money from family, gotten a loan, refinanced a home, or otherwise put a lot of their own skin in the game for something they believed would be successful.  Always keep in mind that odds are that you might not be successful so do your homework and really understand your product, your market, and how to protect your innovation.  Good luck.
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bleedingpen

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Here is the bottom line....

if you can't afford patent protection, you definitely can't afford marketing, product development, and launch
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rwcltn

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Another inventor who thinks their invention is so great that they are looking for investors yet cant afford to file. Fact is only about 5% of patents are worth the paper they're printed on. You get better odds in Vegas and Wall Street.
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sam58

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Hi rsracing,  I know exactly how you feel.  I'm in the same boat.  I received advice on this site in another post that has moved me along so much.  For years I floundered.  He told me to go find help and suggested that I look for college students at my local university.  It took a little time, but I have found two incredible students, one in marketing and in engineering and things are progressing far more than I could ever imagine.  I would suggest the same to you.

Samantha  :)

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rsracing

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Thanks for your advice, everyone, much appreciated!  :)
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NJ Patent1

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Bleeding,  YAK:   I don't disagree with anything either of you typed.  But I think you may have missed an important point.  The "reward" of the "monopoly" goes to those who tough it out, do the work, take that second mortgage ...  Capitalism rewards the risk takers.  No?  Unless of course you are a bank,  a hedge fund manager, or a mortgage broker (in which case its heads I win, tails you loose).

Cheers   
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bleedingpen

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Bleeding,  YAK:   I don't disagree with anything either of you typed.  But I think you may have missed an important point.  The "reward" of the "monopoly" goes to those who tough it out, do the work, take that second mortgage ...  Capitalism rewards the risk takers.  

Agreed, but you need a certain level of finances to put in as the investment.  IP protection is actually a small expense that is part of the capitalism equation.
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