HN Explorer

Ask HN: Best way to fund an idea

4 points by jagira ↗ HN
I work as a Rails developer with a firm. As a side project, I am working on an app which deals with health care analytics. Bootstrapping in this domain is very difficult.

I can think of three ways to generate more income and fund the idea.

1. Raise money - Very difficult in India. In India, people usually neglect young guys. A lot of time and energy will be spent on explaining a relatively newer concept. Will bring unncessary pressure as well. 2. Build another products/apps/services and cross subsidize the idea - Thought of it. Even worked on some stuff for couple of weeks. It is very difficult to maintain focus. Still, if I pull something off, it might generate some steady income. 3. Freelancing - I did it for sometime. It went well. I am now thinking of doing it for rapid prototyping - building an MVP for someone in couple of weeks. I do not whether this is feasible or not.

Can any HNer, who has funded an idea on his own, share his/her experiences?

3 comments

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bpeters
You could leverage http://www.kickstarter.com/ if your idea solves a problem in a lot of people's life. Also, a good way to validate your idea in the open market.
jagira
The idea is targeted at health care professionals. If it were a consumer app or a social networking site, it would have been easier to bootstrap.

Will checkout the site. Thanks.

rchaudhary
I would recommend applying for an incubator. It will help you jump-start your startup via mentoring, support and industry connections you will get if you go through an incubator program. Check out, http://themorpheus.com/