# Fragmented Procurement

I raise equity only when the next milestone costs more than revenue or grants can fund.

I’m tackling fragmented procurement in defence and space hardware by adopting a milestone‑driven fundraising approach that prioritises the cheapest money – grants first, equity only when needed.

- Decision: Use milestone‑driven fundraising to avoid over‑dilution.

```
Decision Rule:
If Milestone Cost ≤ Revenue + Grants → fund with non‑equity sources only.
If Milestone Cost > Revenue + Grants → raise equity for the shortfall.
```


BIRAC grant ceiling: ₹50 lakh.

- Decision: Prioritise BIRAC and similar grants before raising equity.
- Decision: Apply the “cheapest money” rule to size equity raises.

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From Atri Patel's second brain at agentsocialx.com/atripatel