Google Play and Apple App Store have over five million apps collectively and this number is increasing every day. Emerging technologies like AI, AR, and VR are already getting mainstreamed in various industry sectors worldwide. As a result, the mobile app development company tends to integrate the advancements of these technologies in advanced business applications.
But, here lies the challenge for newcomers. Rapidly changing and evolving app development trends keep startups and app developers on their toes. Every year, VCs (Venture Capitalists) and angel investors tend to invest in highly promising and futuristic app projects, and interestingly, the criteria or trends also keep on changing. For example, the year 2017 was of Blockchain and the year 2018 was of on-demand business models.
Let’s discuss what mobile app investors want in the app project for funding in the year 2020. Also, we will go through five effective tips to get your app funded.
What type of apps will be funded by investors?
Here are the major types of apps that will remain on the investor’s radar-
- On-demand Delivery Apps
On-demand grocery delivery app, food delivery app, and courier delivery app are in vogue these days as we battle against COVID-19 pandemic. What you need is a unique app concept for providing on-demand services and making your app users’ lives easier than before. You can think of delivering essential products or items through an app, and if investors find your concept promising, then your app project will get funding.
The on-demand delivery sector has a lot of scopes as it includes various industry sectors. You can grow your business with the help of a seamlessly-performing on-demand delivery app, and attract investors.
- Real Estate Apps with AR/VR
Thanks to the increasing search in buying, selling, or property for rent, the real estate sector is teeming with activities. Home services, smart home, and facility management are few domains in which the investors can take more interest. What’s more, the interest rates are on a low level, which can boost the real estate sector.
Consider an app that saves people’s time and effort while giving an engaging experience. AR and VR technologies can make it possible in the real estate app. The real estate app development company can integrate advanced features based on these technologies to provide lifelike experience and virtual tours of listed properties.
- Enterprise Apps
ERP (Enterprise Resource Planning) and big data go hands in hands. How about combining them in a robust app? App investors are now looking for a theme-based business app or a concept that can assist modern enterprises to transform their operations into employee-centric processes. Investors can also take interest in customized app solutions that improve internal communication and help startups grow by bringing automation in the process.
Simply put, the app concept with business automation can benefit core industry sectors like finance and manufacturing. Therefore, investors take more interest in funding such a concept.
- Healthcare Apps
In today’s pandemic time, telemedicine and on-demand appointment booking apps gain ground swiftly. The custom healthcare app development process integrates advancements of AI and blockchain to make healthcare services more powerful and secure. The trend of 2020 shows that the mHealth app development sector will attract more investment. The mHealth app that focuses on making healthcare services more cost-effective and accessible to people.
Also, insurance apps have a good chance to attract investors.
- Fintech Apps
AI and Blockchain technologies can make fintech apps highly smart and secure for users. B2B fintech has become a global trend, as startups see a huge opportunity in B2B payments and the BFSI sector. Blockchain can make the online transaction highly secure and AI can provide excellent digital payment experience to the users. Startups with an idea of developing advanced fintech apps can attract many investors for funding their projects.
How about making the fintech app capable of providing more personalized experience? Features like budgeting and calculators along with daily expenses can attract millennials and investors alike.
After looking at the possible candidates for funding, let’s go through some of the top tips to get funding for your app. It is fair to mention that getting funds for your app is not a child’s play. It is not possible that you will show an impressive presentation of your concept and get funded. First, you need to come up with an app and once it shows the potential, investors can take interest in your app. Here are the major steps you need to follow for getting a fund of your app.
What are the necessary steps to get funds for your app?
- Start with MVP (Minimum Viable Product)
The budgetary limitations cannot stop innovative ideas with the concept of an MVP development. Instead of developing a full-fledged app, one can start with an MVP. The concept of MVP is on the rise because it enables you to show your idea and its possible impact on early adopters and investors. Instead of spending a lot of time, efforts, and money in developing a feature-rich app, you can come up with an MVP in a short time.
- Get feedback from early users
You can get valuable feedback from early adopters or users. It is necessary to improve the functionality and features of your app. However amazing and innovative your concept is if your app does not implement it properly through user-friendly features, then you cannot draw the attention of people and investors. Therefore, it is necessary to get feedback or suggestions about the initial version of your app.
- Promote your app
If you want to get funding for your app, make sure that it is well received in the target audience even in the initial phase. If more users like your app, chances are high that you can get funding to take it to the next level. You can promote your app and make it a brand to increase its value. The simple yet user-friendly app can work wonders in the app store. You need to take care of the app’s name, domain, color-font palette, logo, and other social assets of your app. It is advisable to do extensive research on the competitors’ moves and their promotional campaigns.
- Make a list of potential investors
Here is one of the most important parts. You need to make a list of potential investors for your app project. It can be angel investors, VCs, customers, and even your friends or family members. People who have trust on you, your app idea and the app’s functionality can invest in your project. You can also consider past business partners or CEOs under whom you have worked in the past.
- Prepare the pitch and present it
Another important part is to prepare a presentation for your app and present it in a confident and convincing way. You can arrange a free interactive demo for investors as well. Presentation is the biggest opportunity to convince potential investors, and therefore, you need to put all efforts to make the most from it. Your app’s presentation should communicate the value of your app by identifying and resolving the potential user’s problems in the most effective manner.
Getting funds for your app is quite a task in today’s competitive scenario. Apart from conceptualization, your app should be capable of convincing people that it can be a part of their lives. VC funds, angel investors, accelerators, and even family members want to pour money on innovative, user-friendly, and futuristic app projects. If you have a brilliant idea or solution to any problems, then it is better to consult a reputed mobile app development company to make a complete roadmap to get funds.