I am looking for suggestions for building up capital, private funding, sponsorship or anything that may help further my dream…
First let me give you a few details about my project… Last year I decided to build a concept sports car and let’s just say that pretty much everyone I knew thought I had officially hit my midlife crisis stage. Now I am not denying it… but I am one of those people that when an idea hits I tend to go full force until completion.
Anyway… I spent several months learning CAD and doing tons of research in the field of designing concept cars. I recognized many issues with various projects that have attempted to do the same and failed. Noticing these issues I decided to approach the idea in a different way in order to increase my chances for success. I have been working on the first prototype for at least eight months now and the response to this project has been extremely overwhelming. My car has been in several magazines in many counties and there are tons of articles on the internet now, I can’t even keep up.
Up until this point I have been spending my own money to build this car… but with all the different opportunities presenting them selves I want to look at getting additional funding that would allow me to work full time on the project and support a new facility for manufacturing and prototyping. I have a small team now and we are looking at producing and electric version as well as a special Hydrogen Hybrid. I have people asking me all the time when and where they can purchase one and if that can give a down payment to hold there spot. As of now I have not accepted any cash from anyone… But I am beginning to think maybe I should as this could serve as the initial investment without having to hand over a percentage of my company. I hope this makes sense…
Tom dePont of dePont Register has contacted me as they want to be the first to reveal it at the end of the year. This is huge news, same as Robb Report which I have an article coming out in soon.
I guess my main questions are…
- What would be the best course of action?
- Should I look at taking money upfront for a product that still has 9 months to go?
- Would Angel Investors or VCs be interested in a project like this?
- I am seeking $250K to $500K to get started and grow. I have already dumped 150K into everything…
- What should be my first order of focus?
- I am working on an Executive Summery and Business plan. (Yes I am doing it backwards.)
With all the attention and press I feel like I am missing opportunities by the minute because I cannot focus on it full time as I have to work. I was expected to make it to SEMA next month but will be able to do to my job… Ugh!.
Any guidance and help would be appreciated…
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