About Jim D. Ray Expertise Jim Ray is coordinator of a regional venture capital network, serving entrepreneurs and investors seeking funding relationships. Ray is an experienced entrepreneur and is presently involved in the operations of several business concepts, including a national commercial real estate company and a web design firm. Areas of expertise include the overall startup funding process; writing venture capital proposals; and win-win exit strategies for existing private funding relationships.
Expert: Jim D. Ray Date: 2/19/2004 Subject: funding possibilities
Question I am a small-time inventor who has been searching for several years funding sources. I have developed a series of projects that will put an end to the world's dependance upon petroleum and its derivatives and I am unable to get the funding necessary to complete the projects. I would like to ask how I can get someone's attention to discuss funding.
Answer Friday, February 20, 2004
1:14 AM DST
Hello, Ron:
Excellent question! Let's get right to it:
If you haven't done so already, I recommend writing a business plan for your concept, and afterward, developing a streamlined executive summary.
An executive summary will allow potential funding sources to review your project and determine if it suits their investment interests. A strong summary will outline the general operations, marketing, and financial aspects of your opportunity.
As for avenues of funding, I recommend approaching private investors for initial seed capital, and then adding institution-based financing later, perhaps in the form of a credit line. Private investors typically meet in groups, known as venture capital groups. A search on Google (www.google.com) for "venture capital organizations" should produce a number of useful links. Each organization's website will include directions for submitting your summary for review by the investor-members.
Ron, I hope this information helps point you in the right direction. Should you think of other questions or need further guidance, please feel welcome to write me again anytime.
