Thursday, 10 November 2011

Funding your App on Android and Iphone

Investing in apps


crowdsourcing of funds for application development

 to generate capital is a new and exciting phenomenon in the world of app gaming and in the future there will be even more ways to 

fund your apps


Jobs sold his VW Bus. Best way to fund apps???

When Steve Jobs first started Apple he was not from a wealthy background at all " In order to afford the first pieces of the Apple I in 1976, Steve Jobs and Steve Wozniak almost literally sold the shirts off their backs. Jobs invested the proceeds from the sale of his VW bus ($1,500 dollars). “Woz” parted with his beloved programmable calculator Hewlett-Packard 65 and deposited 250 dollars in the company’s treasury." Other companys have been know to get investment money from friends and familes to start their companys. App developers take heart there are other

ways to get money for your apps

, you don't have to beg from your family and sell your last worldly possessions!

Crowdfunding :"use of the web or another online tool to get a group of people to finance a particular project"
Will this crowd fund your app?
 is a word being more and more bandied about in the  app development community. As more apps are released on a daily basis by everyone from small startups to the giants such as EA it has become apparent that an app needs something special to make it stand out from the market. Unfortunately for the smaller developes,even if they have an awesome idea they might not have the time nor resources to improve the graphics; code ; audio of their app to a AAA standard.

Armed Robbery is NOT

the way to fund your app!

Traditional funding sources are unlikely to produce results as banks will rarely back small start up projects, especially ones as ephemeral as mobile games and applications. One very positive phenomenon about games and especially mobile games is that the fanbase is very loyal, and can even be considered militant at times. Recent events in which a Lorry was robbed by gas-masked men utilising tear gas and knives to steal thousands of copies of the new Call of Duty Modern Warfare 3 spring to mind! So having a loyal and sometimes crazed fanbase can sometimes be to our advantage. And this is where the idea of crowdfunding comes in.

It is now possible to get micro loans for app development! Appbackr is one of the new companies that I've been keeping tabs on. The idea is very simple: You list your app with them, whether published or still in development. They will then allow appbackrs to invest in your project and turn a small profit!


get your apps funded

Developers receive immediate funding by selling apps wholesale. Devs profit from more sales through social publishing and access to new distribution channels."

Here's what current users say:
We see appbackr as a great way to provide cash up-front, while allowing wholesale buyers to profit and friends and family to take a small stake in our success
- Founder of HearPlanet

Here is one of the current apps being funded:

image description
Final Freeway 2 Retro App on Appbackr
 To give you an idea of what sort of app funding we are talking about: Final Freeway 2 is looking to raise  $21 000 dollars for :
What we will use the funds for:- Add road path branches to the game play
- New stages creation (placement of already created graphics elements and definition of the road tracks)
- Graphics and code for ending scenes
- Various additional graphics
- New original sound tracks and sound effects
- Polish and testing

A minimum purchase of $35 can earn $54 in revenue.
So far Final Freeway 2 has 20 backers believing in their app and contributing to it. As they've been kind enough to lend their name to this article please check them out on Itunes and the Appbackr site.

There are other ways to fund your app too such as:

Angel Investors Angels are individual rich people. The word was first used for backers of Broadway plays, but now applies to individual investors generally. Angels who've made money in technology are preferable, for two reasons: they understand your situation, and they're a source of contacts and advice.

Do you want an Angel to invest in your app? Weigh up the pros and cons but just bear in mind that these so-called angels are big business with a lot of money behind them, knowing a lot more about finance then any app developer so in a financial deal you might be left, in the long run, no better off.

Facebook could become a legitimate source of funds for apps
And in the future it can only get easier Social networks, including Facebook, may become platforms for small businesses to raise capital, if the U.S. House of Representatives has its way.
The House Financial Services committee last passed legislation that would remove a Securities and Exchange Commission  rule that makes it harder for companies to raise money by seeking small contributions.
Removing the rule would allow for so-called “crowd funding” of new business entities through social networking sites.
If this legislation is pushed through then Facebook; Twitter and other campaigns could be launched and hosted to get the money needed to create a blockbuster app. Exciting times!

In the meantime if you need funding then you wouldn't go far wrong in checking out the current options available. And if you're an

enthusiastic Iphone gamer

or Android app abuser then put your money where your mouth is and back some of the quality up and coming apps. Like any investment, investment in apps also has its risks, here's a brilliant article about app investment that will give you some more details before you take the plunge.

Lastly developers please remember that you do need to get your name out there-whether to sell more copies of your apps or to gather funds for your special app project- Gametrender would be an excellent vehicle for any app publicity you might need. Just get hold of us and ask nicely and we will consider featuring your mobile applications and running articles about your company.