I am an RN with 23 years of experience. I have suffered with back pain for the past 17 years, and I am on disability and not working. I have designed a piece of equipment that will eliminate a large number of back injuries. My financial backing fell through, and due to my current employment status, I cannot afford to move forward on my own. Could provide some suggestions as to how and where I could seek support for my product? Could I ask a hospital to sponsor it?
Down But Not Out
Dear Down But Not Out,
I have several sources for you to pursue getting financing for your project. Start by contacting the National Nurses in Business Association . President Michelle Podlesni can provide some resources and also put you in touch with other nurses who have gone through the process.
Contact the United Inventors Association for additional support and information about funding.
Then there is crowd-funding, a popular online option where people request funds for various projects and others provide cash to either support the project or invest in it. If you’re not familiar with crowd-funding, do some online research. There are several different sites for this.
The Small Business Administration is a good source too. They can help you find loans, grants and possibly even investors.
Some medical device companies might even be interested in working with you. Do an internet search for “Funding your medical device invention” for additional information.