So, you have a killer startup idea that will improve the lives of people worldwide. It can be a way to cut down energy expenditure, reduce poverty or battle global warming. But regardless of how good your idea is, you’re going to need some funds to get things going.

With more than 600,000 new companies opening every year, finding the funds for your startup can be a difficult and competitive task. However, there are a few effective ways you can use to get all the funds you need to set things in motion.

Crowdfunding

Crowdfunding is a popular choice for many startups that are looking for initial capital. All you have to do is go to a crowdfunding platform like Indiegogo or Kickstarter, pitch your startup idea to the public and invite them to donate. If the investors like your idea they will financially support your startup.

Crowdfunding will also raise public interest in your business which will provide you with some much-needed visibility.

Host a Fundraiser

Hosting a fundraiser is another great way to gather funds. Send invites to people who could be interested in funding your startup, then use the opportunity to pitch your idea. Elaborate on different ways they can invest and highlight the benefits that the startup provides.

Fundraisers don’t have to cost a lot of time and money – and they can be quite a lot of fun to host and organize. Fundraising Events has a few interesting ideas you can check out. Sometimes a well thought-through fundraising brunch can bring you all the funds you need to turn your idea into reality.

Join Business Incubators

Business incubators are companies that help the establishment of new startups by providing office space, bookkeeping, legal and other services. In recent years, business incubators have experienced a real boom.

There are thousands of business incubators all over the world and many of them offer access to various funds to promising new companies. So don't be afraid to hit the streets and find a local business incubator willing to invest money into your idea.

Use Venture Capital Funds

Venture capital funds always look for interesting new businesses to invest in. So feel free to pitch your idea. Not only that venture capitals will provide you with the money needed for your startup, but they will also provide you with the expertise that will help your business succeed. It is in their interest, after all, to ensure the growth of their investment.

Find Angel Investors

Angel investors are people who invest their own money into interesting startups and business ideas. Just like venture capital funds, angel investors usually invest in the early stages of startup development and take shares in return.

You can find angel investors on various platforms, such as AngelList that connect startups with investors worldwide.

Apply for a Grant

There are many different types of grants for startups out there – from favourable loans and free equipment to direct grants and cash awards. Some are provided by the government, others by various organisations.

We know that the application process for some of these grants can be challenging but if you have a life-changing idea and a great business plan, you’ll undoubtedly get the much-needed funds.

All of these sources can be used to fund a startup, but they all have their advantages and disadvantages. And it's up to you to pick the ones that work for your startup. If you are willing to share ownership and listen to advice from outside sources – venture investors, angel investors and business incubators are the way to go.

But if you are determined to keep control over your newly founded company then grants, crowdfunding and fundraisers are the way to go.