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Financing for an aircraft prototype

Postby middair » Wed Jan 28, 2009 1:24 pm

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I am an engineer and have designed an aircraft that does not burn fossil fuel. I have been working on this design for about 10 years and am in the midst of building the prototype, which I have funded myself to this point. I need financing to finish it. I have not had luck in my investor search for my company thus far due to the fact that the prototype is not finished. But I cannot proceed to finish it without funding. This is a frustrating process as I have several investors ready to be on board once it is flying, but cannot find assistance to get it to that point. I have exhausted my personal funds and need help. I have tried our local Angel Investors group and received interest, but no funds as of yet. Does anyone know of a website or forum where I can find private investors? Perhaps aviation enthusiasts? Any suggestions on where I could obtain this type of funding? Thanks.

Postby coolmax » Wed Jan 28, 2009 3:59 pm

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Hi middair

How much of an Investment are you looking for :?:

Have you tried to get Federal Grants :?:

I don't know if this will help you but take a look at my post under Inventor Classified - Angel Investor.

If you find an Angel Investor with at least $100 thousand to Invest, give me (1) year & I'll fund your project.

Most Angel Investor usually don't Invest more than $100 thousand at a time.

Postby middair » Thu Jan 29, 2009 3:08 pm

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Looking for about that... $100K so that I can work exclusively on the project and give up the day job. I am thinking I could have it done in 4-6 months if I can do that. $60K would get the job done but I can only work on it when I'm free so could be a year. Been looking into Federal grants, but find there are lots of sites...not sure which one to trust exactly. Any thoughts on this? I looked at your post, I'm not sure what I am looking for in there. Is your project funded yet? Thanks for the interest and reply.

Postby coolmax » Fri Jan 30, 2009 12:21 am

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Hi middair

The topic Angel Investor is 1 of the top 5 viewed topics on this website forum.

I didn't know if any of the Information might help you?

I took a few minutes & this is what I found on the Internet for you.

Checkout this website: http://www.federalgrantswire.com

Go to the bottom of the page & look under Federal grants by name.

Go to A, at the bottom of the list you will find Aviation.

I hope this points you in the right direction or try the IRS.

No my project has not been funded yet, to big of an Idea.

Postby middair » Fri Jan 30, 2009 11:07 am

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Greatly appreciate the info and your advice. I'll keep checking back in here to see the latest. Thanks again.

Postby Levi Porter » Sat Jan 31, 2009 3:02 am

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middair wrote: Been looking into Federal grants, but find there are lots of sites...not sure which one to trust exactly. Any thoughts on this?


Hi middair,

Don't trust anything that does not have the .gov extension in the URL

I recently ran across this site :arrow: http://www.cfda.gov/

I found it from the White House links “Catalog of Federal Domestic Assistance (CFDA). The CFDA provides a short summary of each grant program, as well as contact information for Federal agencies that award grantsâ€

Postby Levi Porter » Mon Feb 02, 2009 3:18 am

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I gave a little off info. :oops:

It is also ok to trust .mil extensions or other certifiable Government websites. Also, there may be some websites that promote available grants, just make sure to verify their authenticity.

Postby middair » Thu Feb 05, 2009 4:36 pm

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Thank you, appreciate the info! I will check into these further.

Postby inventor-x » Thu Feb 05, 2009 10:53 pm

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Hi middair

You might also qualify for Federal R&D Grants.

Re: Financing for an aircraft prototype

Postby davh12 » Fri Oct 22, 2010 7:58 am

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Middair,

have you tried small scale? I'm in the same boat with a rotor system I designed for a helicopter. A few in the aerospace industry have looked at it, good comments from them, but it is hard to get industry to look at independent inventors. Bell Helicopter is looking at it now. No promises. Google "Vogt Awards". They have closed applications for this year, but try next year.

Dave
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