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How to obtain funding for your startup?


Having an innovative idea is not the only thing you need to get a business off the ground, this can only be achieved if you are able to obtain funding that helps you bring the idea to life. This goal can be a challenge and can lead to the failure of many startups, as it is a crucial factor for the success of any business. In this post we show you some of the best options to get the money you need to bring to life your business idea.

  • Business angels. They are people who contribute both giving part of their capital to your startup and their experience in exchange for a share. In other words,  they are usually investors with experience in the business world who accompany you during the creation of your company as a guide and/or mentor, closely monitoring your project.
  • Grants and public aid. This is not in the form of financing, but many public administrations offer grants and aid throughout the year to which you can access. There are different types of grants, depending on the purpose for which the capital is to be used, for example, there are R+D+i grants, for young entrepreneurs, Social Security bonuses, etc.
  • FFF (Family, friends and fools). This is one of the most basic ways and one that everyone has ever used: asking for money from our close environment or, as the title says, from our family, friends and fools. However, although this is an easy way to obtain funding, the amount is usually limited and small.
  • Crowdfunding. One of the most used in the last years, and its popularity continues to grow everyday. It is a collective and collaborative way of obtaining financing. Through crowdfunding platforms, entrepreneurs who need money show their project and what they want to do, as well as the reward that can be obtained by those who decide to finance them. In this way, people interested in betting on it can get in touch and make a micro-contribution in exchange for a reward or, sometimes, even without receiving nothing in return. In addition, this is a way to validate your business idea, because if there are strangers willing to contribute money from their pocket in your project so it can move forward, it is a sign that this is good and has a future. 
  • Venture Capital. Through this funding method, an investment fund provides an amount of money to a startup in exchange for a share of the company. This funding method is not accessible to every entrepreneur, as venture capitalists are usually interested in companies with high growth potential in sectors such as communication, technology and biotechnology.

Finally, although it is not a way to achieve funding directly, being part of an accelerator can help you to achieve it. Participating in acceleration programs such as La Lonja de la Innovación’s one provides you with the necessary resources and advice for your startup to grow and be prepared to attract funding, as well as facilitating access to private and public investors.

Now that you have all these options, we recommend you to evaluate each one to know which one suits you before making a decision.

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