Funding for innovation

All innovative ideas need some funding to develop and commercialise them. Before approaching an investor, it is important that you are investor-ready. This includes having:

• a comprehensive business plan that outlines
  • your management team, history and skills
  • your customers and how you will meet their needs
  • the product/service you plan to offer and the supporting technology
  • the technology and its protection strategies
  • your marketing plan
  • barriers to entry
  • a financial forecast
• a detailed business structure appropriate for the type of funding you are seeking
• corporate and business strategies for risk management, business development, conflict of interest etc.
• a presentation and pitch to make to investors outlining the business opportunity.

This guide explains how to develop your business plan and identify available funding options.