Getting Funded For Mobile App Development

Creating a mobile app is a challenging process. It consists of many complex phases, including design, development, testing and deployment.

It can also be expensive, especially if you don’t have a reputation for delivering quality apps.

Developers with adequate funding have a great advantage over those who don’t. They can devote all resources towards developing the app rather than obtaining funding.

This post focuses on the first round of funding, where the app doesn’t yet exist.

The primary goal here is to raise enough money to build the app and have money left over to perform some targeted marketing.

Other funding rounds are often necessary as the project progresses, especially if the app is succeeding. Common sources for funding a mobile app include the following:

  • Friends and family
  • Crowdfunding
  • Investors
  • Business partners
  • Colleagues
  • Bank loans

Funding Mobile App Development Via Friends and Family

This type of funding solicits investments from your social network rather than your business network. It doesn’t have to be people you know – it may include friends of friends, according to Evus.

Your social network is a great way to spread the word about your business opportunity. Word-of-mouth is helpful because you’ll need to dig deep into your network if you’re going to develop your app.

Another advantage of asking friends and family is that they won’t hold you to the strict terms of a bank loan.

Asking friends and family for money can be tough. But it becomes easier when you provide a detailed business plan explaining your plan.

You should also ensure that none of your friends and family are giving you money they can’t afford to lose.

A formal agreement is still necessary, even when borrowing money from a member of your social network. This agreement should make it clear that there is a chance your investors may never see the money.

Making this possibility clear from the beginning can help protect you, your lenders and your relationship with them. The last thing you want in this situation is angry loved ones demanding their money back.

Even though these investors aren’t business-oriented, they will still expect their money back. Friends and family may also expect to play a role in your business in exchange for their investment.

An agreement that makes the lender a shareholder can be an effective way to address this issue, since it also offers tax advantages for the lenders. Furthermore, their investment will pay a return when your mobile app become a hit.

Crowdfunding Your Mobile App Development

Crowdfunding is one of the most recent methods of funding a business venture, according to Lifewire.

Crowdfunding sites like GoFundMe and Kickstarter specialize in raising small amounts of capital. These sites have also raised millions of dollars for a venture in some cases.

This approach involves asking the general public to invest in your venture, which entitles them to a share of profits.

You’ll also need to provide a fundraising goal for the campaign. If your crowdfunding campaign meets its goal, then you get the money which you can use to develop your app.

If not, the investors keep their money. Crowdfunding platforms also charge a fee, typically around 5% of the total donations.

The primary advantage of crowdfunding is that you can find more investors than with other methods. It also doesn’t require a working product, which you won’t have in the first round of funding.

The only thing you need for crowdfunding is an idea and a plan. This typically includes a story with photos and video. You also get to keep the equity in your business.

Crowdfunding also means publishing your business plans to many people without an NDA. This is something you will normally have in the case of a private investor.

The lack of an NDA will leave you without recourse should someone else decide to develop your app. Keep this in mind before proceeding with this route.

Using Angel Investor Funds For Mobile App Development

Most venture capitalists will expect you to have a working product before investing in your mobile app, according to All Top Startups.

You may be able to get funding from these sources with a working prototype. But business investors usually require your product to show some commercial success.

Angel investors are an exception to this rule. They’re willing to invest in startups in exchange for equity in the company rather than a direct ROI.

In some cases, they may offer to fund your entire project. But, most angel investors will only fund some of your mobile app’s development costs.

Like others, angel investors are more likely to provide funding if you have a detailed business plan.

They will often remain anonymous, so they’re more difficult to find than other investors. However, a single angel investor can end your short-term funding problems.

Adding Business Partners For Mobile App Development Funding

Many small business ventures are founded by two partners. The dormant partner – or silent partner – provides capital to bring the product to market.

This partner doesn’t play any type of active role in the business. The active partner runs the business, including daily operations and product development.

It’s essential to ensure that a silent partner can supply the capital needed since they’ll own part of your company. You’ll also need to be confident that this partner is a good fit for your business.

Make sure you have a written agreement about the terms and conditions of your arrangement. This should include the amount of the investment and profit-sharing percentage.

Using Bank Loans For Mobile App Development Funding

It’s possible to fund your mobile app with a traditional business loan. A loan officer will require a detailed business plan, often in a standardized format.

You need to provide the reasons you want the loan and what you plan to do with the money. The return on the bank’s investment will usually be in the form of interest on the loan.

Loan approval is often a procedure driven process. This means the loan officer may have little real discretion improving the loan.

In many cases, the loan officer’s only job is to determine if your application meets the set of criteria established by the bank.

The loan officer will then inform you of these criteria and identify the ones you still need to meet.

Getting Mobile App Development Funding From Colleagues

Mobile app developers often look to business colleagues for funding. This is known as buddy funding.

These colleagues typically provide funding for a share of the profits, often in the form of a percentage of sales.

One advantage of buddy funding is that a colleague will often understand the risks and potential rewards of funding a mobile app.

It may also be possible to create a network of developers from your business contacts to invest in your app.

Differences Between iOS & Android App Development

Many mobile devices can launch applications (apps), including mobile phones, digital assistants, and tablets. These apps can be installed during the manufacturing process or downloaded by the user from an application platform, typically within a web browser.

Developers must consider the wide range of display sizes when creating mobile apps in addition to other hardware specifications and configurations. iOS and Android are the two most popular mobile operating systems (OSs) in the world, so mobile app developers often must choose which OS to develop an app for first.

Critical differences between iOS and Android include the following:

  • Environment
  • UX design
  • Language
  • APIs

An Overview Of iOS & Android

Google developed Android from the Lennox kernel, specifically designing it for devices with touch screens. User commands to Android’s user interface (UI) are primarily based on gestures that resemble real-world actions, including tapping, swiping and pinching.

A virtual keyboard also allows users to enter text. Google has developed Android for other electronic devices as well, such as televisions, cars and wristwatches. Currently, Android is the world’s most popular mobile OS.

Apple created iOS exclusively for its mobile devices, including iPad, iPhone and iPod. The iOS UI is also based on direct manipulation of the touch screen, including multi-touch gestures. It can also make use of a device’s internal accelerometer, which allows the user to enter commands by shaking or rotating the device.

Apple has also incorporated accessibility into iOS, allowing disabled users to operate its mobile devices. iOS is the world’s second most popular mobile OS.

iOS & Android App Environments

iOS clearly leads Android on development environment. It’s still possible to write iOS apps with command lines and text files, although professional developers typically use an integrated development environment (IDE).

Apple’s IDE is Xcode, which is fast and powerful without intruding on the creative aspect of app development. Xcode is particularly effective at isolating the developer from the complex compilation and certification process that Apple requires to maintain control over iOS apps. iOS also has an efficient debugger and responsive simulator.

Android Studio is currently the standard IDE for the Android platform and was specifically designed for Android app development.

It was first released in December 2014 and officially replaced Eclipse Android Development Tools (ADT) in late 2015, when ADT was deprecated. Studio is a significant improvement over ADT, although many developers still consider it to be counterintuitive and overly complex compared to Xcode.

Studio’s debugger is also clumsy to use, causing many developers to use log files to debug code. Furthermore, the Android emulator is slow to load and often fails to connect to the Android Debug Bridge (ADB).

UX Design For iOS & Android Apps

Developers often expect Apple’s Interface Builder to make iOS the clear winner on the issue of User Experience (UX) design, but this comparison is a tougher call than that.

Interface Builder does allow developers to build slick interfaces quickly, but it also adds another layer of complexity to app development. The storyboards that iOS developers use to create an interface require multiple screens that can become cumbersome. Developers also use Auto Layout to design interfaces for different display sizes.

Overall, this approach to UX design is most effective for simple interfaces, but its complexity makes interfaces more difficult to build as an app evolves.

Android also has a visual tool for developing interfaces, although many developers choose to write XML manually. This approach requires developers to specify guidelines for the display layouts, which should allow the app to display properly on a range of display sizes.

Android also provides developers with an icon pack, whereas iOS developers must obtain icons from third parties or create their own.

The best mobile OS for UX design often comes down to a matter of developer preference, although iOS probably has the edge. iOS developers only need to consider three display sizes and two screen densities, while Android developers theoretically must consider every possible combination of display size and density.

Furthermore, developers typically consider iOS’s visual elements to be more appealing than those of Android.

iOS App Language vs. Android App Language

In general, iOS apps are written in Objective-C or Swift the latest iOS language, while Android apps are written in Java.

However, a number of exceptions exist such as Apache Cordova, which is an open-source mobile app development framework. Some developers may also Xamarin tools to develop native iOS and Android apps, but these cases are relatively rare.

Developers who are already proficient in Java will find Objective–C to be a verbose programming language. Java also creates better stack traces, allowing developers to locate intermittent bugs more easily.

On the other hand, Objective-C is cleaner than Java, primarily due to Objective-C’s use of blocks and categories. Furthermore, Objective-C doesn’t require the developer to wrap code within exception-handling boilerplate as Java does.

Android had superior garbage collection until iOS implemented automatic reference counting in 2011. While Android’s garbage collection is still better, the difference is no longer significant. iOS therefore has the edge over Android on language.

APIs For iOS & Android

Both iOS and Android have many Application Programmer Interfaces (APIs) available to developers. APIs provide features and functions for mobile apps such as network access and View objects that are essentially full-fledged browsers.

The controllers that perform most of the work of implementing these APIs are generally comparable between IOS and Android. However, iOS has Core Data, a powerful framework for which Android has no equivalent.

Core Data allows developers to organize data by entity, attribute and value, so they can manipulate it with high-level objects. iOS’s API system is also generally cleaner than Android’s, which makes class declarations shorter in iOS. Developers generally prefer to work with iOS classes than Android classes.

App Development For iOS & Android

A mobile app wifor typically be developed for both iOS and Android to maximize the app’s user base, so the more important issue is which OS to develop the app for first.

iOS is usually the best choice, since it’s generally easier to write apps in iOS. Furthermore, iOS users are typically willing to pay more for their apps. Developers may then port a mobile app to Android once it succeeds on iOS.

For more information on the development of mobile apps for iOS and Android, contact NS804 at 804-793-8682.

Mobile App Development Lessons

Being new to mobile app development and thinking I had it all figured out I have learned several valuable lessons. First you need to be flexible when it comes to technology sometimes things do not work the way you want them to. In that case you better have back up plans and lots of patience.

Second is listen to people who have been where you are. Many I have met in the development world are
Very cool and down to earth and willing to talk and share ideas.

Lastly ask for help when needed contrary to what we all believe we cannot do it all..

The funny thing about this whole process is we went from 1 game in development to 2 now to 6. I think we have a solid working strategy that only took 8 months to figure out and we move
Forward with Morads, Naval Defense, Battle For The Whitehouse and 3 others to be named later.