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Author Topic: How to find Money for business, when you can't start ICO  (Read 540 times)
projectlazyperson
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November 11, 2017, 11:34:46 AM
 #1

Good day to all!
There was a question of common worker from factory: "How to raise funds for building a real business without conducting an ICO." How many I read different information, in most cases ask for the registration of juridical persons and patents, documents, prototypes and so on and only after that there passes me understandable funding ... And only ICO can raise funds for the idea, with the price tag at the initial stage of $ 50,000 and launching the project for about a million $)

The bottom line is this: for a year and a half, I'm interested in building a full-fledged extruder for getting yarns for 3D printers, trimmers, and so on. During this time, 2 prototypes were built with a minimum of 1-1.5 meters per minute, an error of about 0.09 mm and more than 100 different plastic samples were tried.

Now there are phased tasks:
1) Finalization and adjustment of the third version of the extruder, with an increase in power to 5 meters per minute (an average of 0.8-1 kg of finished products 1.75 mm)
2) Processing of plastic in granules, build extruder for this.
3) Improvement of the workshop, increase in the number of machines and production volumes
4) Development of a unique program for children "Working with 3D pen, Visual objects and development". Consecutive opening of branches, work with special children (social project).
5) Fundraising and implementation of construction of a garbage processing plant (the initial stage of 10-20 tons, increase of capacities up to 50 tons), plastic is especially interesting)

Question: How to properly register in the block, the smart contract for the Etherium, the possibility of direct donation with automatic charging of tokens? And how do I prescribe that the commission is debited from the very amount of the transaction, and not from the payer? The created token will be attached to the finished product unit. 1 token = 1 meter line / thread / product variants can be completely different. I see a certain complexity in the operations of unprepared people, even if they understand that everything is backed up by real activity.

In advance I thank for the help, support and etc
 Sorry for mistakes, used Google translator from russian )
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loughlin
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November 11, 2017, 04:45:54 PM
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I think ICO is the best thing for startups. it's a new version of business angels. You need to look for a way to run your ICO, of course, you can't do this alone, you need a team.
A donation is an option, but you ask $50k this is huge amount just for donations. Maybe you can try to find potential partners where you must give something except a good idea.
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November 11, 2017, 07:36:32 PM
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How about taking the cue from some of the most successful startups and projects we've known? Money is just one resource - time is the other, and is arguably much more valuable. Take a look at some of the biggest cryptos here. You don't even need to look beyond Bitcoin. It started with one guy, building a concept. Then a few came together to discuss, work and code - all contributing their own time. Long story short, they developed the idea into a product that they started using and advocating. Eventually, people found value in it, and started accepting and trading for it. Eventually, a company attached a dollar value to it. It took on more believers, some original developers used the recognition and experience to start up their own enterprises...

Ignore the ICO fad that's happened over the last couple of years. Ignore the ETH ICO. If you have an idea and it's great, believe in it and work on it. The money may take care of itself later... if it doesn't, it's unlikely an ICO would have done better.

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November 11, 2017, 08:51:49 PM
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So many people don't understand what an ICO is (or at least what it was/was supposed to be). An ICO is an Initial Coin Offering. That means you need to offer a coin. That already cuts out half of the people running "ICOs". Secondly, the whole idea is that this coin is supposed to actually do something. Usually, these coins were ERC20 tokens on the Ethereum network. Usually the coins had some sort of value, e.g. Etheroll, which has tokens that allow you to claim some of the house's profit with your tokens. Their ICO allowed them to make the bankroll for the game, and their coins served a purpose. Now, people will create cookie-cutter coins that have no value other than they sell them for 30 cents each in their ICO.

If you really, really need money for something, build something useful first. Don't just tell people "hey I need money for this fantastic idea" and expect people to fund you (although that's happening at an alarming rate). Build something, a prototype at least, then say "hey, look at this thing I built, I have an idea and a prototype that has potential but I need a little boost". That's when you should run an ICO, if ever.
royromales
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November 12, 2017, 10:00:49 AM
 #5

improve the bitcoin comment and then make a profit to build the business you want
Willful_Grok
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November 13, 2017, 09:56:01 PM
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There are other options other than an ICO -- regular crowdfunding is also possible and you dont have the $500k fees from marketing groups.

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Appyaak
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November 14, 2017, 11:21:31 AM
 #7

Why not ICO? What is the problem?
Well, create a project on Kickstarter or smth else
projectlazyperson
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November 14, 2017, 02:44:47 PM
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Thank you guys for this comments
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November 14, 2017, 04:43:19 PM
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You can do a real crowdfunding campaign. Though you also need a team. Grin
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November 14, 2017, 09:38:31 PM
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I can't understand why you need so much money. Anyway you need to start with money you have. ICOs is more suitable for something virtual that you can sell to people in the Internet. If investor is not from Russia, he won't have any profit.
Norihiro
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November 17, 2017, 04:50:27 PM
 #11

Good day to all!
There was a question of common worker from factory: "How to raise funds for building a real business without conducting an ICO." How many I read different information, in most cases ask for the registration of juridical persons and patents, documents, prototypes and so on and only after that there passes me understandable funding ... And only ICO can raise funds for the idea, with the price tag at the initial stage of $ 50,000 and launching the project for about a million $)

The bottom line is this: for a year and a half, I'm interested in building a full-fledged extruder for getting yarns for 3D printers, trimmers, and so on. During this time, 2 prototypes were built with a minimum of 1-1.5 meters per minute, an error of about 0.09 mm and more than 100 different plastic samples were tried.

Now there are phased tasks:
1) Finalization and adjustment of the third version of the extruder, with an increase in power to 5 meters per minute (an average of 0.8-1 kg of finished products 1.75 mm)
2) Processing of plastic in granules, build extruder for this.
3) Improvement of the workshop, increase in the number of machines and production volumes
4) Development of a unique program for children "Working with 3D pen, Visual objects and development". Consecutive opening of branches, work with special children (social project).
5) Fundraising and implementation of construction of a garbage processing plant (the initial stage of 10-20 tons, increase of capacities up to 50 tons), plastic is especially interesting)

Question: How to properly register in the block, the smart contract for the Etherium, the possibility of direct donation with automatic charging of tokens? And how do I prescribe that the commission is debited from the very amount of the transaction, and not from the payer? The created token will be attached to the finished product unit. 1 token = 1 meter line / thread / product variants can be completely different. I see a certain complexity in the operations of unprepared people, even if they understand that everything is backed up by real activity.

In advance I thank for the help, support and etc
 Sorry for mistakes, used Google translator from russian )

You'd better go into the local thread and state your ideas fully, so there will be a bigger chance of meeting an investor. Or get a translator who will help you present it accurately here.

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