December 18, 2013
Innovation and the need for funding go hand in hand. Lots of great ideas are nurtured in college labs, which is great if there are grants.
But often, entrepreneurs turn to their own bank accounts for seed money, and then to friends and family. However, new sources for funding are emerging. Today, incubators and accelerators offer mentoring, modest funding, networking opportunities and an environment conducive for entrepreneurs to develop their dream product. But at a certain point, an entrepreneur may need more funding as they work to develop their “proof of concept.”