Frequently Asked Questions
Our mission is to help entrepreneurs and inventors get the initial funding they need to develop a working prototype, a stage that is often the most difficult to obtain funding for. Founded by experienced engineers, we focus on hardware startups that we believe are the next big thing – no idea is too big or small.
What kinds of products and ideas do you invest in?
PicoFund focuses exclusively on “hardware” projects, including everything from household lamps to industrial tools, kitchen gadgets to smart watches. If you can hold it in your hand, we can fund it.
Is there anything you won’t invest in?
We do not currently invest in apps or software.
What types of clients does PicoFund work for?
We work with anyone who has a good idea, from small startup companies to individual inventors.
How does the application process work?
We keep things simple. Fill out our online form and submit it. You’ll hear back from us shortly with our decision. It’s that simple.
How quickly will I hear back from PicoFund?
After submitting your idea, you can expect to hear back from us within a few days.
What is PicoFund’s approval rating?
We currently approve 1 in 4 submissions.
How much can I expect for the initial investment?
The initial investment depends on the idea. Investments range from a few thousand dollars to tens of thousands of dollars.
What can the funds be used on?
Funds can be used on research and development, building a prototype, developing a Kickstarter campaign, and filing a patent. Contracted work must be done through one of our approved service providers.
Is there anything I can’t use the funds for?
Funds provided by PicoFund cannot be used on salaries or for any personal expenses.
What type of contract does PicoFund offer?
We offer a simple SAFE (Simple Agreement For Equity) contract. Once your company is incorporated, you provide us with a set amount of shares in the company as well as the option to buy future shares at a discounted rate in return for our initial investment.