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Micro-investing in the US?

Asked by bpeoples (2551points) May 14th, 2009

A friend of mine and I are starting to put together an electronic device, but starting to run into funding problems with the R&D.

Basically, neither of us has enough cash floating around to really fund the project, but the amount of cash is relatively small—$1000 would get us through R&D and ready for production.

Pre-sales through wholesalers should get us the funding to launch the product. While this is a consumer item, it’s a fairly small market—if we sell 200 in the first year, we’ll be stunned.

Our break-even point is pretty decent—20 units wholesale will cover the R&D costs.

So—any sources for this kind of micro-investing?

Within a week, we’ll have the first two prototypes in hand, but what we need to do next is get test units out so we can start getting good reviews and fix any beta issues.

Should we start looking for pre-sales once we have the prototypes and can start doing videos about them? Should we just look for small investors?

Any thoughts would be appreciated.

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