If you're a tech startup or any business in hyper-growth mode, it may be time to think about giving up some equity in your company in exchange for funding to get to the next level. But if you want to go this route, be prepared; angel investors and venture capital groups are looking for a proven business model, a solid team of co-founders and a 5x-10x return on their investment in 3-5 years.
There are also grants available through the federal Small Business Innovation Research-Small Business Technology Transfer (SBIR-STTR) program that may be a viable option to seed your business. Just know that the government is only interested in cutting-edge technology. If you think you have something that might quality, definitely connect with the UTSA Technology Commercialization Center. They know the SBIR-STTR programs and how to commercialize new technology.
Funded in part through the State of Texas and a Cooperative Agreement with the U.S. Small Business Administration. The support given by the U.S. Small Business Administration through such funding does not constitute an expressed or implied endorsement of any of the cosponsors’ or participants’ opinions, findings, conclusions, recommendations, products or services. Reasonable accommodations for persons with disabilities or limited English proficiency will be made if requested at least two weeks in advance. Contact Texas State University SBDC by phone at 512.716.4800 or via email at firstname.lastname@example.org.