Investment for a new product?

lethal_2

Hey, I do not come on this section often, but only when I can, as I am extremly busy doing my A-levels. In my A-levels, I am doing design technology, and have invented a new gadget. My teacher and I have discussed this and will soon be pitching this investment to a local university.

The same university has invested in somebody else is project in past years. I was woundering what other alternative investment are there for me, ss I am also young, and want someone or a organisation that can help and advise me.

For copyright reason, i am unable to tell you anything about the product, which would be irrelevant as I want some advice on a investment and not the product itself.

All the advice would be extremly usefull and appreciated.

Lethal

richt71

Hi,
There's a number of other routes you could take - go to the bank for a loan based on selling your invention. Speak to your local bussineslink about grants that may be availble to support manuafcturing more stock and/or marketing. You could approach a private investment company (many advertise in local and national newspapers). Lastly dependant on your invention you could approach a company that you think would need it to either license it to them or sell it to them either on a one off basis or ongoing basis.
I'd suggest you contact your local business link anyway to discuss patenting your invention prior to going out there as it may expose your invention to being copied! Business link are a free organisation run by the government.

Hope that helps??

MORPH3US

It would be impossible for anyone to advise you on what funding might be available to you based on the info given above....

There are so many questions I would have to have answered (not all about the product) before I could advise. E.g. location, area that the product is targeted at, your age, your current circumstances etc etc.....

What you need to do is go and see someone specialising in IP and get their advise about protecting the product... once you have protected the product, you can then approach different people about funding for the product.

M

nelly_2

Go on dragons den

raa_thistle

Another relevant question is do you even own the IP? I know that some Uni design courses the IP is held by the university themselves, unless specifically aranged otherwise, so that might be worth looking into.

ukbill69

Dragons den will only take on big projects thatg make them a big profit, they do not tell you that they pull out of deals after the show has finished and I know this is a fact. Other than that you can patent your idea costs about £100 I think. Then you can ask for funding and share your idea.

MORPH3US

ukbill69 wrote: »

they do not tell you that they pull out of deals after the show has finished and I know this is a fact. Other than that you can patent your idea costs about £100 I think. Then you can ask for funding and share your idea.

Be fair, they only "pull out of deals" because after the show they find out that the person has been economical with the truth....

That said, they are tight !!!!!! and know what they are doing (as you'd expect) so if your idea is good enough for them to invest then you could find funding elsewhere.

However I know lots of people who have been on the show with no intention of taking any money no matter what the offer. They just want the publicity - especially great if its a website idea!!!

M

ukbill69

Your bank manager will always lend you money where he/she thinks your idea will make money.