Different Stages of Start-ups

Stage	Ideation	Building	Prototype	Proof of Concept	Growth
Description	Pre-product and revenue, only idea	Working on developing a product or service, hiring team	Finished prototype in users’ hands, getting feedback	Refining product, reaching larger audience	Early market success, expansion and growth to new geographies or new products
Approx. Funding Needs	$0 - $20k	$20k – $50k	$50k – $150k	$100k – $500k	$500k – $2m+
Potential Investors	Angel investor networks, incubators, friends/family members, grant-making foundations	Accelerators, angel investor networks, crowdfunding platforms, public/semipublic grants, foundations	Seed-stage venture capital firms, impact investors, crowdfunding platforms, corporates, public/semipublic grants	Seed-stage venture capital firms, corporates, crowdfunding platforms, impact investors	Venture capital firms, private equity firms, banks, impact investors, public/semipublic funders