Top 5 ways to raise funding for Startup Idea

Not every startup idea needs funding to start, excepts some startup like in the tech category need initial funding to start.

5 ways to raise funding for Startup Idea

1. Startup Competition

There are different colleges in India like IIT, IIM, IIIT conducting regular business and Startup competition. These competitions are point system based, where the judge analyzes the business idea, business model, business plan.

In small competitions you can raise fund around 10 thousand to 20 thousand rupees but, in the big competitions you can raise fund into lakhs.
Some famous Startup, like Zostel, has also raised their Initial funding from the competition.
In this pandemic situation, these competitions are going online.

You can search for these types of competition on dare2compete.com
It is one of the easiest ways to raise funds, but the amount you will raise small but well for the initial stage.

2. Government programs and Schemes

Nowadays, the government is focusing on startups more. So they organize different competitions according to requirement. They have their problem statement and eligibility criteria. Sometimes they are searching for ideation phase startup.

You can search for this type of competition on startupindia.gov.in. First of all search for startupindia.gov.in and go to the schemes section.

But it is somewhat hard to raise funding in this competition because various big startups are also applying in this competition.
These competitions provide a good amount of funding according to category and requirements.

3. Incubators

Incubators are a business institution that helps in the business growth. They mentor startups. They provide office workspace, network access, etc. They won't take any stake in the company.

It is easy to get funded from your college incubators but little hard from private incubators.
If you want to search the Incubator programs, then you can check the network section of startupindia.gov.in.

4. Accelerator

Accelerators focus on the growth of a startup. They organize a 4-12 weeks accelerator program.
Accelerators take some stake in the company.
There are lots of Private Accelerators like Sequoia Surge, Antler, Axilor are available.

It is hard to get selected in these programs because of high competition. But, they provide enough fundings.

If we talk about support, then it will provide excellent support in the growth of the Startup.
If you want to search Accelerators, then you can check the network section of startupindia.gov.in.

5. Angel Investors

It is hard to approach Angel Investors because many startups daily try to reach them for funding. If your Startup introduces by someone, who already known by the Angel Investors, then it is easy to get connected.

Angel Investor provides enough good funding for Startup.

Most of the angel investors provide network access and mentorship access as extra benefits.

Conclusion

With the help of your business idea, business plan and Pitch Deck, you can raise funding for your Startup. So, in this article, we discussed five methods containing competition, government schemes, incubators, accelerators and angel investors to raise startup funding.