I only have a few thousand dollars available. I know I can make a good working prototype for that much. The problem is I need realistically around 100k to get the initial design completed for real manufacturing plus maybe another 25k-50k to make the first “batch” of my product.
Is it realistic to even try getting an investor for that much off just a prototype?
It is called a Pre-Seed investment and it happens very often. However you need to win the trust of the potential investor. This is done by validating and forecasting your solution (as mentioned before). Previous working expiriens, learned skills, deeper market understanding and so will also add to the trust an investor will have.
Its all about convincing the investor. I think an angle investor is the most likely to invest. Funds will expect more quantitative data and results.