How do I finance the development of my idea or invention

You cannot sell an idea. It's just in your head and it's worth noting. If you further develop your idea or invention into a marketable product, interested parties can be sought. To make an idea from your idea and a salable product from your invention, you have to invest. This can be done in several ways:

• Equity
The advantage is that you do not have to consult with anyone about the next steps and you can keep the entire profit. Often the equity capital is not sufficient to finance the development of the idea. Then there are other options:

• Bank
Banks - especially in the current economic crisis times - are reluctant to provide loans for inventions. This means that many risks must be covered (which is often not possible, since development simply involves risks) and the interest that you have to pay will be high. You will also have to pay off monthly. Even if your idea/invention does not yield anything yet. For just an idea, they will not provide a loan.

• Family / Friends
The advantage is that you know these people and probably trust them. Nevertheless, it is strongly recommended to put all agreements on paper. The disadvantage is that it is often difficult to negotiate with family and/or friends. The degree of interference can also lead to disagreements.

• Invent Help
These are private lenders. In addition to money, they can put knowledge and experience into starting companies and development projects: they are personally involved. They are also called informal investors. They can / also want to invest in risky projects such as innovations.

• Crowdfunding
An entrepreneur wants to start a project but has insufficient starting capital. To acquire this capital, he or she offers the project on a platform on the internet and states the required amount. This way everyone can invest in the project through this website. The idea behind it is that many private individuals invest a small amount and that these small investments together fully finance the project. This is in contrast to bank loans and large investors such as business angels, where there are only one or a few investors who contribute a large amount. These small investors are called the crowd.