How can I get fund for my new software? I have MVP!


1
I am an experienced computer developer, I was enjoying making computer programs since I was just 10, back to 1994. And since 2001, I started to create computer software as my part time and later full time job.

One of my old problems with computers was organizing huge amount of files. Large number of download, huge amount of text files, different project files and many other files, sorting and organizing them was always a nightmare for me.
I think we all have hundreds of thousands of files around us, and most of them are not organized. About 5 years ago, an idea came to my mind for organizing files. I started looking for an implementation and surprised when I found no one have implemented it yet.
After several years and thinking on the idea and working with mock ups, I finally made a working proof of concept, a MVP.
The idea is a solution for organizing data and could be used in from Enterprise Digital Assets Management systems to home computers. Now, I think I should make the final product, make it available to public and commercialize it. I should fund the project, and here is what is my problem: I am looking for best way to get fund, develop and commercialize it.
I know that an Idea worth nothing before implementation and implementation is impossible without funding, and all of it is useless, if we can't sell the final product.
Based on my knowledge, I see these four potential solutions:
  1. Find a co-founder or Investor. This method sounds really interesting, but finding a supportive investor is a really hard thing to do. I don't think that I need a technical co-founder. I need an investor who can be a manager, a business man, some one who can lead the marketing and talk to clients. But, finding such person is something really hard. This is the best, but hardest method I think. And its advantages and disadvantages is completely based on the co-founder / investor.
  2. Open Sourcing the solution and get funded from open source incubators (hopefully!). I don't really like this solution, because It takes a long time for solution to get mature and there is long road before making any money from it. Also many legal and similar issues may arise and at the beginning, I think it needs a huge investment.
  3. Crowd funding solution Using KickStarter.com or similar websites. And after that create a company, create a team and develop the final product. This solution have some advantages like getting fund without having force of investors, potential of making a buzz into community and getting attention. And have some disadvantages of being an indie, like solving legal issues alone and...
  4. Make a proposal and send to big companies which may be interested in. This solution have some advantages like instant funding and having the power of a great company behind, but have some disadvantages like missing companies for bad presentation or lack of interest. And also, I don't know how should I find right person in a huge company and how should I do presentation? Should I go there or sending a video presentation is enough?

There is for sure more solutions, and more advantages and disadvantages for each solutions, but these are what came to my mind.

What do you think and what is your suggestions? Is there any fifth solution which you can suggest? What are other advantages and disadvantages of each of the above solutions? Is this idea attractive for an investor at all? For example, for your self! Would you ever invest in such idea? And why?

I am kinda technical person with years of experience in developing custom solutions for my customers. But I was never in place of being an entrepreneur and I think my knowledge in this field is really nothing. :-/

note: sorry for question almost-duplication. I changed description based on my gathering in last week and repost question to hopefully get an answer.

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asked Aug 18 '14 at 10:45
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Shahab
6 points
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1 Answer


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I have read your post several times. The fact that no one has answered yet is a sign: your situation is confusing. That's also probably why you are not making any progress.

Can you clarify: if you did complete an MVP, what did it achieve? The whole point of an MVP is to go from idea to something you can pitch and sell, and iterate with. You seem capable since you made your MVP yourself. So what is preventing you from making progress?

Now, to answer your list of possible next steps:

1. Find a co-founder or investor: these are such different animals, never put them in the same bullet point. Yes, it's hard to find someone to do all the selling for you (it's hard work). What you should be doing is pitching everyone you can get your hands on. If no one cares about your product after 3 months, that's a big sign that something is wrong: your pitch, or your product.

2. Open sourcing: that's usually never the solution to lack of interest. Your current problem is that no one cares about what you have built. You can dump the code on github and nothing will happen.

3. Crowdfunding: crowd funding works really well for consumer products with attractive videos. Based on your confusing explanations so far, it doesn't sound like you'll be successful there.

4. Send proposals to big companies. Yes, but not the way you describe it. You need to find interested users. Finding customers is just as much a skill as software development.

So in conclusion, I'd combine #1 and #4: you seem to be most in need of a reliable sales person to land your first customers. Good sales people are very hard to find. Try to get as many meetings as you can with people in that industry and do both: pitch them, and ask them what their pain points are. Hopefully, your product solves a problem for someone. So far, you haven't shown that.

answered Aug 20 '14 at 16:14
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Alain Raynaud
10,927 points

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