It’s always been obvious that you never know when inspiration is going to strike. As a matter of fact there are statistics showing that some genius ideas are hatched while you are standing in the shower, hands lathered with happy bubbles of cleaning powers and fingers entwined in your hair and all of a sudden POW, idea of the century. Regardless of your catalyst though, you have to think about how to ‘lather up’ that amazing concept and have it land into the fingertips of your potential clients.
The question remains what options do you have to fund the creation of this idea?  The available pathways to bring your great idea out of the murky waters of the shower are endless. Recently GTI has been working with potential clients to help them move from concept to living breathing product.  Attached you can find some terminology you’ll need along the way and below are some basic ideas to help you along your possible path. I have to also thank investopedia for a few well thought through definitions!

Convertible Note: A convertible note is a loan to a company, with an interest rate, that the investor has the right to convert the entire principal amount of the note (and often any accrued interest) into equity when an institutional investor subsequently makes an investment.

So long story short if you are in need of engineering, industrial design, or research and development to bring your product to its full potential you can offer a Convertible Note to work out how you can get what you need now and pay for it at a later point. There are many terms to know for the Convertible Note so make sure to review before working one up or singing off on any potential deals.

Series Seed: The initial capital used to start a business. Seed capital often comes from the company founders’ personal assets or from friends and family or investors. The amount of money is usually relatively small because the business is still in the idea or conceptual stage. Such a venture is generally at a pre-revenue stage and seed capital is needed for research & development, to cover initial operating expenses until a product or service can start generating revenue, and to attract the attention of venture capitalists.

Obviously there are many more ways to achieve needed investments, and many more small details in between,  but at GTI we are a very relaxed crew and open to new ideas. We want to see you succeed and have your ideas make it to consumers where it belongs. Your idea our solution for when inspiration strikes!