John Savage was an engineer with an idea for a flexible solar-energy material that would have a wide-range of military and civilian apparel applications.He estimates that he will need approximately $300,000 to develop a prototype.Friends and family could provide about $75,000.What would be the best source for the balance?

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Quizplus · Accepted Answer

Informal investors, often known as angel investors, are individuals who provide capital for startups, typically in exchange for ownership equity or convertible debt. They are suitable for early-stage funding needs like John's, especially when the amount required is relatively small compared to what venture capitalists typically invest.

John Savage Was an Engineer with an Idea for a Flexible