LVSIF Blog 10

Blog prompt 2

Although the project is on such a small scale that it doesn’t need much funding.  In the future scaling up the project can be done with grants.  This would be a safe and easy way to see if the project can be scaled up reasonably.  Once it is proven with grants that the project will be able to be scaled up efficiently them many I would use person seed funds or public seed funds.  The easiest grants would be Lehigh research grants.  I would use personal seed funds because I would like most ownership and most profits.  I would only use Public seed funds if I cannot raise enough money from my personal fund or friends and family.

Blog prompt 3

I would need to maintain Lehigh as an essential partner to provide grant money.  Lehigh would be a short term partner since once there are profits I wouldn’t need to keep using grant money.  I will still keep Lehigh as a partner for inspiration for new ideas and other positive feedback.    The second partner that I would need is a distribution network or website to share the results. This would be a cheap service that I can buy from a company without giving any intellectual property right away.  Another partner would be a large tech firm that has large amounts of cloud storage to store my data.  This partnership would be great if I got the service for free because of the positive social impact that my project will have across the world.  The next step would be to make this positively impact people around the world.  The rest of the partnership should be the most popular social media used in the target country.

One thought on “LVSIF Blog 10

  1. Good start. I like the attention you are paying to intellectual property concerns. Keep specifying your funding sources and partners – now that you have identified grants, a distribution network, and a tech firm as important elements of your project, specify which grants/network/firm and why.

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