The career prospects of a good application developer are already excellent, but it’s going to become an even more lucrative field very soon. On the other hand, trying to launch one’s own entrepreneurial venture in the booming mobile applications market is a whole new ballgame altogether.

It requires understanding and managing the principles of business administration, resource allocation, marketing, and so much more. Above all else though, launching one’s own app development startup requires funding. Everything else can be managed in time, as long as you have the funding you need for your venture, so we will concentrate exclusively on the fundraising aspect here.

Scale Determination

The very first step to take would be that of determining the scale of your initial app development project. Determination of the initial scale is going to be key in deciding on the kind of budget that you will need, which in turn, will determine the right modes of raising money for the project.

Short-Term Loans

If your initial scale is small, a short-term loan is the ideal option for funding the app development project. However, instead of going with the first option that comes your way, try to explore your alternatives a bit first. For example, an Uncle Buck loan alternative like LoanPig will have a much higher limit on the available loan amount, as well as offering it at a lower rate of interest.

Finding Investors: Venture Capitalists

A venture capitalist would be any business or individual with significant wealth at their disposal to sponsor startups or even failing companies. However, their money usually comes with one serious issue; it will allow them to gain prime control over your project or startup venture.

Finding Investors: Angel Investors

The name is not ironic or coincidental, because angel investors are individuals who will give you the funding you need, but without trying to gain control over the start-up. They are quite hard to find though, and even if you do, your pitch and idea has to be fabulous to win them over.

Bootstrapping

Bootstrapping is the simple act of utilising your own funds to sponsor your startup. For small scale app development teams, that is not a bad idea, but if the project is big enough, it’s not the ideal route to take.

Crowdfunding

Up until a few years ago, crowdfunding wasn’t even a possibility, but today it is one of the best sources for finding funds for startup ventures. To give you a bit of perspective on how many app developers have taken advantage of crowdfunding, consider the following list:

• Star Citizen
• Prison architect
• FirstBlood Crowdsale
• The Grid
• Shroud of the Avatar: Forsaken Virtues

These are just a few of the thousands of other successful projects that managed to gain the footing they needed via kickstarter campaigns.

Perhaps the main advantage app development startups have is that they can afford to start small and simply grow from there on. If you have the talent and the funds to get started on an idea, the rest of it will eventually fall in place.