BOOTSTRAPPING Bootstrapping involves funding your startup through your own savings and revenue generated by the business. While this method may be challenging, it allows entrepreneurs to maintain full control of their business and avoids diluting ownership. Start-up budgets are usually very tight – nevermore so in the case of bootstrapping. 4 GRANTS & COMPETITIONS Numerous organizations and institutions offer grants, prizes, or competitions for start-up ideas as well as government-backed initiatives. The Earthshot prize and the Start Up World Cup are high profile examples of start-up prizes. These are typically non-dilutive and can provide both funding and exposure. Researching available opportunities and applying to relevant ones can yield beneficial results. 5 ACCELERATORS & INCUBATORS Joining an accelerator or incubator program can provide start-ups with seed investment, mentorship, office space, and resources in exchange for equity. Programs like Y Combinator, Techstars, and 500 Startups have helped launch numerous successful companies. 6 7 BANK LOANS & LINES OF CREDIT Traditional bank loans and credit lines are accessible options, albeit with stringent eligibility criteria and the burden of interest rates. However, they remain a viable option for startups with a solid business plan and the ability to demonstrate repayment capacity. Business Finance Monthly. 38
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