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Are Government Grants For Inventions The Only Way to Get Invention Funding?

Getting proper and adequate invention funding may be the hinge to many an inventor’s plans. An inventor can, more or less, easily come up with an idea. He can also do everything, research wise, to find a market for it, as well as a patent for it. However, the question remains, who will pay for all of these expenses? This simple situation explains the importance of invention funding. After all, the sad reality is that money does not grow on trees and almost everything needs capital.
A common question from many inventors, in line with this subject, is this- “Are government grants for inventors the only way to get invention funding?”. We want to take the opportunity to answer this question on government grants for inventions with a post. Here, you’ll find out more, not only on government grants for inventions, but general invention funding too.
1. While government grants for inventions are one way to fund inventions, it is not the only one. However, getting a government grant is one of the most available resources for inventors to fund their invention ideas. All inventors looking for grants ( in the United States) should check out the website, http://grants.gov. Here, one will find a comprehensive lists of different grants every inventor can apply too. Our advice though, is that you apply for a grant that is related to your invention. For example, if you’ve invented something related to health, your best bet of getting a government grant is through one granted by the National Institute of Health.

2. For younger inventors, there are also student programs available. These student programs pretty much work like government grants for inventions. They can provide funding for students who are either in elementary school, high school or university. We suspect student programs were created because realistically, students may not be able to compete with more experienced inventors if they go after the same grants. Through student programs, students are somewhat assured that there is some money left for their inventions.

3. If government grants for inventions are not available to some inventors, there is always the option of going after company grants. Yes, there are some companies that reward inventors with different grants. Company grants work just like government grants. An inventor needs to apply for it, and it is to be expected that his work will be reviewed by a number of people who will ultimately decide if the inventor will be awarded the company grant. While there are many company grants that are legitimate, inventors must be warned that there are also those that are fraudulent. It is the inventor’s responsibility to research if the company, as well as the grant that they are applying for, is the real deal.

Whether an inventor is applying for a government grant, a company grant, or a student program, pretty much the same requirements will apply. An inventor will need to show a very detailed account of his invention, and what it can do. Our company, Idea Design Studio can assist inventors on this part. We encourage inventors out there, especially those in the invention, and prototype development stage to contact us and request for a confidential meeting. Idea Design Studio can provide inventors with 2D, 3D renderings, sketches and illustrations that will really be helpful in presentations and prototype making, and ultimately help them get the grant that they’ve been wanting.