• Consider bootstrapping:

This is the oldest and most enterprising way of starting your business, when you are dearth of funds. Bootstrapping ensures that there is no equity dilution. Most experts recommend that you bootstrap your startup for as long as you can.

• Seek help from family and friends:

You could always seek help from friends and folks who would be interested in investing in your business. They could start you off with the initial funding, in return for some equity stake even. However, ensure that you are honest with them about the risks, the potential of your business, the feasibility of your plan etc. Consider returning the money after a stipulated amount of time, with some interest that is agreed upon mutually.

• Startup contests:

There are hordes of these contests occurring these days to showcase and help fund startups. They let individuals, companies, and even enthusiastic idea nerds participate. You just need to find the right platform to showcase your idea or product. Even though the prize money in such contests is small, it gives you visibility and even opportunities to work with investors.

• Check out crowdfunding:

There are many crowdfunding platforms in India and abroad that let you crowd source funds from people to support your startup idea/business. All you have to do is put your story together, put it up on a crowdfunding platform, share the story in your social network and help spread your story. People will then donate for your cause/project, share the story in their networks and the money keeps pooling in out of goodwill and the genuine desire to help see good projects and ideas come to fruition.

• Find HNI investors:

HNI or High Net Worth Individuals are ones with deep pockets and businesses possibly looking for more pies to dip their hands into. If your business could start bringing in cash flows in 2 to 3 years, you could connect with HNIs and get them to invest in your startup.

• Impact investors:

These are organizations that invest ins social entrepreneurial ventures or projects with a social cause. If yours is one, you could seek such investors. In 2013, the Indian Impact Investor Council (IIIC) was established in India. It is a self-regulatory body to encourage impact investing in the country.

• Find an accelerator program:

They are run like university courses, they have a fixed tenure and curriculum. They usually receive numerous applications every year for their programs which run for a few weeks to a few months. They provide startups with a small seed investment and access to a large mentor network, in exchange for a small equity stake, generally between 2.0% to 10.0%.

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