StartupAddict a haven for entrepreneurial superheroes thwarting the forces of mediocrity just released a complete redesign to its’ website funding platform. StartupAddict.com the original crowdfunding site now makes it easy to harness the power of the crowd to fund startups.
In the spirit of the American Startup Partnership Initiative, StartupAddict has one simple mission: No good idea will be left unfunded. Now anyone can be an pseudo Angel and help American startups for the price of their Monday morning Latte. StartupAddict enables passionate entrepreneurs across America to utilize the crowd for funding and in the process create thousands of start ups and potential jobs.
The crowdfunding update will assist entrepreneurs in overcoming the fierce obstacles in obtaining seed funding. Entrepreneurs creating lean startups will have access to capital to turn their ideas into prototypes and beta test the marketplace with live customers. StartupAddict is the conduit for startups to get funded successfully while rewarding the funders for believing in the entrepreneurs. StartupAddict can turn the average joe-funder into an Angel powerhouse.
Imagine for the amount of money you donate to a local charity you could be fueling economic activity in the United States and empowering entrepreneurs around the nation to succeed.
Funders will glean rewards from startups for their generous contributions while building a significant social reputation across the community and beyond. StartupAddict is developing a point based reputation system where funders will be rewarded with real world prizes based on reputation and funding generosity.
Once successfully funded through the crowd, startups can go on to cashflow through profitability or move on to equity based funding from Angel groups and Venture Capitalists in the startup value chain.
COMMENTARY: Tod Whipple is the founder of Startup Addict. He is a serial entrepreneur, technology geek and real estate developer in the New England area. He is an advocate for startups and small business initiatives everywhere. You will find Tod at Startup Addict Musings where he is an avid blogger ranting about startups, technology and business.
In a former life, Mr. Whipple produced feature films, television and new media projects. He was a partner at Scout Productions a film/television and new media production company in Boston Massachusetts. He started the company’s new media division in 2000. Some of his credits include Queer Eye for the Straight Guy for Bravo/NBC, Session 9 for USA Films, and Deadman’s Curve for Trimark pictures to name a few.
Presently, Tod is involved in a number of businesses in the greater Boston area, enjoys blogging and crafting new business models.
In a nutshell this is how Startup Addict works:
Startup Addict is a new way for people to pool small amounts of money to back a good idea or project.
If you need funding for a project or idea; Startup Addict really is a no-brainer.
• It's FREE to register and there’re no monthly subscription fees.
• Startup Addict takes a 5% commission on successful projects.
• If the fundraiser hits their funding target they get the money.
• If they don’t, the people funding the project will get their money back.
So there really is nothing to lose and everything to gain. Start a pitch today.
Crowdfunding - a revolutionary way to raise funds
Startup Addict aims to give bright young entrepreneurs with a cool business idea a revolutionary new way to raise money by crowdfunding their project.
Startup Addict gives the UK's smartest characters a newfangled way to raise money by tapping into a 'crowd' of like minded trendsetters willing to invest small amounts of cash in exchange for unique rewards and being part of something unique.
Startup Addict can kick start a projects entrepreneurs are trying to get off the ground – it can be anything from food to photography, fashion to film or art to an extreme adventure.
Project Pitch Tips
A pitch is the fundraisers way of selling their idea and their project to potential fundgivers. It's their showcase and they need to do everything they can to convince potential contributors that their idea is the best thing since sliced bread.
So, the more interesting, fun and worthwhile fundraisers can make their project sound the easier it will be to gain support and raise funds.
A really compelling description wirtten clearly and with passion is a must-have.
A video can reall help convince people to contribut to their project.
Finally, and perhaps most importantly fundraisers need to dream up some attractive and unique rewards which will entice potential contributors to open their wallets and help get the fundraisers project off the ground.
For Fundraisers or founders raising funds for your project
Funding a project through Startup Addict is an easy process. Fundraisers begin by creating an online pitch for the project, establishing a target amount, and promoting it to individuals and entrepreneurs who might help fund it. Once the funds raised reach the target amount, or the amount raised exceeds the target amount, Startup Addict transfers the money pledged by fundgivers and the fundraiser can finally get down to the serious business of making their project become a reality. Project fundraisers can choose a duration of 30, 45, 60 or 90 days to raise the target amount. The project pitch will stay available for contributions until the end of the funding period. There is no minimum or maximum for project pitches. Once the target amount has been met the fundraiser will be responsible for ensuring that every fundgiver receives an appropriate reward. The reward could be anything from a ‘big thank you’ to something unique that will knock socks off. It totally depends on how much fundgivers contribute and how generous the founder is.
For Fundgivers funding a project
Starup Addict gives fundgivers the opportunity to follow and back great ideas from great people. Funding an exciting new project is simple. Whether the individual they're investing in is a forward-thinking entrepreneur, a stylish new fashion designer, or a enlightening video documentary - Startup Addict gives fundgivers the chance to get involved and fund projects that tickle their fancy. The maximum amount that any fundgiver can contribute in a project is $2000. Any fundgiver who has a valid credit card or Paypal account and is over 18 years old can contribute funds to projects on Startup Addict. Fundgivers' credit card or Paypal account will be charged every time they make a contribution to the fundraisers Startup Addict account. If the project reaches the target amount, fundgivers are notified by email. If the project does not reach its target amount then all monies are returned to the fundraisers Startup Addict account balance. If the target amount is reached, in return fundgivers get a reward from the founder of the project. This could be anything from a ‘big thank you’ to something unique that will knock their socks off. It totally depends on how much fundgivers contribute and how generous the founder is. Startup Addict displays a list of projects that fundgivers have contributed on their public profile, but Startup Addict does not disclose how much money fundgivers contributed to each project.
Courtesy of Startup Addict's press release dated April 28, 2011 appearing in PR Web
Ashley, thanks for the headsup regarding adwebix.com. My only concern is how many real fully-accredited investors are registered. It has been my experience to there are far too many venture capital brokers joining these sites. In the vast majority of cases, none of them are registered securities brokers, so they are operating in violation of SEC broker rules.
Posted by: Tommy | 05/02/2011 at 07:15 AM
Very interesting reading, thank you for the article.
Related, startups and entrepreneurs seeking funding, business loans and other resources for their business might also want to join http://www.adwebix.com - a leading online service connecting entrepreneurs with investors.
Members can post funding request ads, create profiles, source early stage investment deals, get more exposure, contact other members and more.
It's free and easy to use.
Best regards,
Ashley.
Posted by: Ashley | 05/02/2011 at 12:42 AM