Mitch, it sounds like your venture isn’t quite a start-up as of yet.
The term start-up is primarily used for companies that have “started” operations, completed their product or services rollout, and are generating revenues. The primary objective for start-ups is to scale fast and become profitable.
More likely than not, your venture is still in the conceptual or seed stage. This is typically the case when there is little more than the “spark of genius” and the commitment to further explore a market opportunity. This is the earliest development stage in the corporate lifecycle and while investors do occasional provide seed-funding to explore the viability of a concept, it is also the riskiest and hardest to obtain.
Like in most cases when it comes to entrepreneurial finance, the ability to obtain financing hinges to a large degree on the people behind the venture and the merits of their business plan.
I’d be willing to take a look at your business plan to see if I can give you a few additional pointers.
I hope this helps.
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