Starting and growing a business isn’t just about having a great idea—it’s about having the resources and funding to bring that idea to life. But let’s be real—figuring out how to finance your startup can feel overwhelming. Do you bootstrap? Look for investors? Apply for grants?

At SOAR Innovation, we get it. And we’re here to help you navigate the funding landscape so you can focus on what really matters — building and growing your business. Whether you’re exploring options for the first time or getting ready to pitch to investors, our team and Entrepreneur in Residence, Rick West, are here to guide you every step of the way.

Let’s break down the different funding paths and how SOAR Innovation can help you get the capital you need to thrive.

Which Funding Option is Right for You?

Every startup is unique, and the best way to fund your business depends on your goals, industry, and stage of growth. Here’s a look at the most common funding options and how to decide which is right for you:

1. Bootstrapping (Self-Funding)

If you want to keep full control of your business and grow at your own pace, bootstrapping (using your own savings or revenue) might be your best bet. Many successful founders start this way—it forces you to be lean and strategic with every dollar.

How SOAR Helps:

• We’ll help you optimize your business model to generate early revenue.
• Our team will connect you with mentors and experts who can help you grow strategically without outside funding.

2. Angel Investors

Angel investors are individuals who invest in early-stage startups in exchange for equity (a share of your business). They often bring not just funding, but also mentorship and connections.

How SOAR Helps:

• We’ll help you craft a winning pitch that speaks to investors.
• Our Entrepreneur in Residence will coach you on how to negotiate the best deal and find investors who align with your vision.

3. Venture Capital (VC)

If you’re building a high-growth, scalable startup, venture capital could be a great fit. VCs invest in companies with the potential to scale quickly and deliver big returns.

How SOAR Helps:

• We’ll prepare you for the intense due diligence that comes with VC funding.
• You’ll get one-on-one coaching on structuring your business to attract investment.

4. Crowdfunding

Want to raise capital while building a community around your product? Crowdfunding platforms like Kickstarter, Indiegogo, and WeFunder let you secure funding from everyday supporters.

How SOAR Helps:

• We’ll help you develop a strong campaign strategy to hit your funding goal.
• You’ll get expert advice on how to market your campaign and attract backers.

5. Research Grants & Government Funding Programs

If your startup is working on innovative technology, scientific research, or high-impact solutions, you may qualify for competitive federal grant programs like the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. These grants are designed to support R&D-focused startups that are developing new technologies with commercialization potential.

Unlike traditional business grants, SBIR/STTR funding is highly competitive and requires a strong research and commercialization plan. These programs are not free money to start a business, but rather a way for early-stage, high-tech startups to fund research, development, and prototype testing.

How SOAR Helps:

• We’ll help you determine if your startup is a good fit for SBIR/STTR or other research-based grant programs.
• Our team will connect you with expert resources and advisors to strengthen your grant proposal.
• We’ll guide you through the complex application process to improve your chances of securing funding.
• We’ll help you develop a commercialization strategy to turn your research into a scalable business opportunity.

If you’re an entrepreneur working on cutting-edge technology, biotech, energy, or defense-related solutions, research grants can be a powerful funding tool to develop and validate your innovations.

6. Business Incubators & Accelerators

Accelerators like Launch Blue provide funding, mentorship, and resources in exchange for equity. They’re a great option for startups looking for structured support and rapid growth.

How SOAR Helps:

• We’ll help you identify the right accelerator for your business.
• You’ll get hands-on mentoring to prepare for accelerator applications and demo days.

7. Bank Loans & Lines of Credit

Traditional bank loans and lines of credit can provide non-dilutive funding (meaning you don’t give up ownership). The challenge? Getting approved often requires strong financials and a solid business plan.

How SOAR Helps:

• We’ll help you create a bank-ready business plan that improves your chances of approval.
• Our team will connect you with local lenders who understand startup financing.

You Don’t Have to Navigate This Alone

Figuring out how to fund your startup can be tough, but you don’t have to do it alone. At SOAR Innovation, we provide personalized coaching, mentoring, and hands-on support to help you find and secure the right funding for your business.

How We Work With You:

• One-on-One Strategy Sessions – We’ll assess your business, goals, and funding needs.
• Investor Readiness Coaching – Get expert feedback on your pitch, business model, and financials.
• Connections to Funding Sources – We introduce you to investors, grant programs, and lenders who can help.
• Long-Term Support – We’re not just here for one meeting. We’re here for the long haul.

And if you’re at the investment-ready stage, our Entrepreneur in Residence, Rick West, will work with you to fine-tune your strategy, sharpen your pitch, and connect you to funding opportunities.

Ready to Take the Next Step?

If you’re serious about growing your startup and need guidance on funding, let’s talk. Whether you’re just getting started or preparing to scale, we’re here to help you succeed.

Schedule a free strategy session with SOAR Innovation today!

Email: innovation@soar-ky.org.