facebookHow do I go about getting funding For Entrepreneurship? - Seedly

Anonymous

27 Dec 2019

βˆ™

Career

How do I go about getting funding For Entrepreneurship?

I have a great idea for a new business plan. I got everything ready except fundings, any tips on who to approach to fund the project? I would really need someone that is very experienced with e-commerce/web development.

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Cedric Jamie Soh

27 Dec 2019

Director at Seniorcare.com.sg

To get funding, most investors or organisation will want to see at least a MVP (Minimum Viable Product).

To get the minimum viable product, you either need to bootstrap and do it yourself (or with friends that shared the common goal and with different skillsets from you). Actually this is the most common way, bootstrap, get a working protocol and get people to look at it and explore whether its good.

If you approach any profit-oriented investors or organisation with an idea that has no MVP or no practical way, and no data and supporting evidence, it is going to be an extremely hard sell. It wil be very difficult for them to take you seriously.

Bootstrap, DIY fast. If you no idea how to do it, don't go look for funds, look for technical assistance and help.

The infamous Mark Zuckerberg executed facebook well enough at the beginning to push it across its rivals (heard of its faecbook rivals? they all died coz Mark was fast)

That was his legal argument, that the idea of social network was not key to facebook success, the execution was.

And don't be focus on the NDA. 99 out of 100, people think that their ideas are worth NDA and that delayed their set up. When investors are not keen on ideas, they are keen on executions.​​​

Loh Tat Tian

20 Dec 2019

Founder at PolicyWoke (We Buy Insurance Policies)

Go to ACE Action for Entreprenuership and learn more about the grants and all. They have a support system for Entreprenuers.

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