I have an idea for a mobile app. Should I fund it myself or raise money?


2

I have an app for an idea that will require around $100K capital to completely build and launch. Should I try to raise money or figure out a way to invest my own money?

Venture Capital Apps Seed Funding Mobile Apps

asked Apr 4 '14 at 12:41
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Alexandra Scalise
16 points

2 Answers


3

If you just have an idea, chances of being able to raise money for it are slim. You will need a prototype built, at the minimum. Usually startups try to raise seed capital when they have the initial version of the product built, and have some early traction.

answered Apr 4 '14 at 14:08
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Nishank Khanna
4,253 points

2

Like @Nishank said, you will have a hard time raising money without a prototype.

I also would like to add that 100K$ for just a mobile app is insane. What makes you think you'll have to pay so much? Most experienced developers can get a prototype running in a single weekend by themselves, so you could find someone to do it for much less than 100K$. Server costs etc should also be very low initially, even free.

answered Apr 4 '14 at 19:22
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LaserBear
100 points
  • American developers would cost that much. A parking company that lets you pay parking meters via mobile spent about $300,000 on an app, but it included a back end, web site, credit card processing, meter maid ticketing, etc. – Starrychloe S. 3 years ago
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Venture Capital Apps Seed Funding Mobile Apps