ABSTRACT
Innovations require funding and the persuasion of leadership teams to support the initiative. Larger businesses have more ability to use a capital expense due to the ability to make a financially sound decision to expend the large amount of funds that are required. The motivation behind using a capital expenditure to fund an innovation is to expand upon the current business, enhance the business or invest in a new idea. There are many different ways to fund innovation depending on the business level, financial supporter or the innovation itself. Innovations that have small financial impacts are more easily funded but can take just as much effort in achieving. The funding may require investing activities and financing activities. External funding and entrepreneurial funding can be approached for different reasons. External funding may also require a business plan to prove the effectiveness of the current business and to present the potential for a startup.
