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Launching an App,investment options...

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  • 05-05-2013 10:46pm
    #1
    Dazzler88
    Registered Users Posts: 514 ✭✭✭


    I am looking for a bit of advice on launching an iPhone app.It is a high potential idea.I am looking at advice on where to best secure investment.

    I am meeting with Enterprise Ireland next week but do looking for opinions from you business heads.

    It is an app that offers users money off everyday products.It will free to download but a small charge for businesses that are listed on it.Sorry if this is a bit vague but do not want to give too much details away.Plus I have secured a very catchy domain name.

    What is the best type of investment for such an idea? e.g. Angel investors,Venture capital.


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    #2
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    If you already have the app why do you need investment? Do you instead mean you have a vague idea for an app but no research or work actually done?


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    #3
    Dazzler88
    Registered Users Posts: 514 ✭✭✭Dazzler88


    srsly78 wrote: »
    If you already have the app why do you need investment? Do you instead mean you have a vague idea for an app but no research or work actually done?
    No I plan to launch an app.I need investment in regards to the marketing of this app.

    No point launching an app that no one knows is on the app store or what it is even about.People do that everyday.


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    #4
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    Well for starters, why an iphone app? This limits your market severely. If your app is just the usual brochureware you should look at a cross-platform solution.


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    #5
    Dazzler88
    Registered Users Posts: 514 ✭✭✭Dazzler88


    srsly78 wrote: »
    Well for starters, why an iphone app? This limits your market severely. If your app is just the usual brochureware you should look at a cross-platform solution.

    I plan to launch it on iPhone firstly but I am in discussions with developers for the various other platforms.Thanks for your advice.


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    #6
    Atomico
    Banned (with Prison Access) Posts: 388 ✭✭Atomico


    Dazzler88 wrote: »
    I am looking for a bit of advice on launching an iPhone app.It is a high potential idea.I am looking at advice on where to best secure investment.

    I am meeting with Enterprise Ireland next week but do looking for opinions from you business heads.

    It is an app that offers users money off everyday products.It will free to download but a small charge for businesses that are listed on it.Sorry if this is a bit vague but do not want to give too much details away.Plus I have secured a very catchy domain name.

    What is the best type of investment for such an idea? e.g. Angel investors,Venture capital.

    If the app isn't yet built, then you mean you are looking for investment to build it and market it?

    That may be very tricky indeed as you are basically asking for cash to build something that may go nowhere. Generally, to get investment at the very least you need a working prototype or minimum viable product of some sort with definite interest or paying customers.


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    #7
    The Corinthian
    Closed Accounts Posts: 19,777 ✭✭✭✭The Corinthian


    You're probably looking for an angel; possibly even just a private investor.

    I'm out of touch with the Irish IT investment market, but it was pretty provincial where it came to investment in the past and given the recession, I doubt if it's really developed much since.

    I would look at personal connections first, who may know someone who knows someone. Also, organizations like Enterprise Ireland, IDA, chambers of commerce, etc., may also have contacts and or lists.

    Once you identify who you want to pitch to, approach them and be sure to have all your ducks not only in a row, but that a non-technical person can understand them.

    If I were you though, I'd look to outside Ireland for investors; Germany, Switzerland, Netherlands and, especially, the UK. They tend to be more clued in, professional, better funded and won't treat the entire affair as some sort of horse trade as much as the Irish ones will.


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    #8
    Dazzler88
    Registered Users Posts: 514 ✭✭✭Dazzler88


    Atomico wrote: »
    If the app isn't yet built, then you mean you are looking for investment to build it and market it?

    That may be very tricky indeed as you are basically asking for cash to build something that may go nowhere. Generally, to get investment at the very least you need a working prototype or minimum viable product of some sort with definite interest or paying customers.
    Sorry if my OP was a bit misleading,the app is built.I am looking to seek investment to launch it,ie Marketing,advertising.


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    #9
    OU812
    Registered Users Posts: 6,050 ✭✭✭OU812


    If it's built, launch it, then get going on spreading the word through facebook or through your sig here. If it's any good, it'll take off & you'll find it much easier to get investment.


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    #10
    Dazzler88
    Registered Users Posts: 514 ✭✭✭Dazzler88


    The Corinthian wrote: »
    You're probably looking for an angel; possibly even just a private investor.

    I'm out of touch with the Irish IT investment market, but it was pretty provincial where it came to investment in the past and given the recession, I doubt if it's really developed much since.

    I would look at personal connections first, who may know someone who knows someone. Also, organizations like Enterprise Ireland, IDA, chambers of commerce, etc., may also have contacts and or lists.

    Once you identify who you want to pitch to, approach them and be sure to have all your ducks not only in a row, but that a non-technical person can understand them.

    If I were you though, I'd look to outside Ireland for investors; Germany, Switzerland, Netherlands and, especially, the UK. They tend to be more clued in, professional, better funded and won't treat the entire affair as some sort of horse trade as much as the Irish ones will.
    Thanks some great advice.


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    #11
    Dazzler88
    Registered Users Posts: 514 ✭✭✭Dazzler88


    OU812 wrote: »
    If it's built, launch it, then get going on spreading the word through facebook or through your sig here. If it's any good, it'll take off & you'll find it much easier to get investment.

    Thanks for this advice.The main reason I am wary about launching it is because it is a unique idea but very easy to recreate,so if I launch my app and it sits in the app store for say 6 months not getting many downloads,a bigger more established company could recreate something similar and market it quicker than a start up like ours could.


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    #12
    Royal Legend
    Registered Users Posts: 2,655 ✭✭✭Royal Legend


    Personally, before talking to EI, I would talk to people who have already launched apps. I know some people who work with and are based in the TSSG unit in WIT in Carriganore. There are a couple of incubator businesses there that are producing apps, they would give you the low down on what to do next.


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    #13
    Atomico
    Banned (with Prison Access) Posts: 388 ✭✭Atomico


    Dazzler88 wrote: »
    Sorry if my OP was a bit misleading,the app is built.I am looking to seek investment to launch it,ie Marketing,advertising.

    Right I see.

    Don't worry too much about someone 'stealing' the idea, or even a big brand. If the app is good, people will use it. If people are using it, you have a good chance of getting investment (most likely angel investment, since you'll be somewhat early for VC, but it's not an impossibility and will depend on the potential of the product).

    If you get investment, then you'll be able to get ahead of any would-be competition, since you will have the first mover advantage.

    If someone is going to copy it, they will copy it. You don't need to focus on that, you need to focus on getting your product out there and getting people using it.

    It is a very competitive area so I wouldn't delay or be too cagey as regards getting it out there.


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