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Our Founder Encountered a Problem That He Realized Every Startup Faces
When I began my first startup, Flockminer, I really had no clue what I was doing. I had a great idea and initial capital from family and friends, but when it came to running a company or securing a future round I hit a brick wall.
I believe most startups are the same: great ideas, passion, and drive, but lack the resources, community, and network to get them to the next stage.
I have found this to be true across the world, but more so in emerging economies, where entrepreneurs are driven, talented, and passionate, but have far less access to capital.
David Mark
Solution: Support Not Investment
Fundz recognized that funding startups in the emerging economies takes more than one time cash infusions, but rather should mimic both a mentorship model along with the funding model of a peer to peer donation platform.
To accomplish this, Fundz merges both community and crowdfunding by bringing mentors and supporters together in order to help entrepreneurs from emerging economies get the ongoing capital and guidance they need.
Current Status
MVPUsers
Growing Mentor ListClosed Beta Launch End of May
Mentors
How Does it Work?
● Fundz uses a social media platform structure as the gateway for startups, mentors, and supporters to engage with each other.
● Crowdfunding is done through recurring support pledges on a weekly, monthly, or quarterly interval.
● As startups grow they engage and report on their progress to the crowd. Bonds between the emerging economies and funders from around the world help encourage engagement and financial support.
● Specific perks vary from project to project.
Monetization Structure
Users Join Free7.5% on All Money Raised
Market Potential: Developing EconomiesAsia
Nasscom Study: Startups in India to grow from 3,100 to 11,500 by 2020.Startup Growth in the rest of Asia last year:
Beijing: 165% Tokyo: 126% Shanghai: 81%
AfricaLeading the World in TEA (total early stage entrepreneurial activity):
Nigeria 39% Zambia 39% Malawi 28.1% Ghana 25.8% Uganda 25.2%
Growth Plan for the Next Year
Raise $350,000
5,000 Users500 Projects30+ Mentors
Hub and Accelerator Partnerships in China, Japan, Mongolia, India, Thailand, Vietnam, Nigeria, Zambia,
South AfricaNew Hires: Community Manager, Outreach Director, Developer(s)
Competition
Recurrency is a recurring crowd funding site where you support and connect with creators you love every week.
Commit Change builds beautiful fundraising tools that help nonprofits raise more money and create lasting relationships with their supporters.
Patreon was created to enable fans to support and engage with the artists and creators they love.
Team
Sheldon WolgelCFO
David MarkCEO and Founder
Shai AtanelovCOO
Arjun ThakuriCTO
Sean Ndiho ObedihPartnerships
Eytan ElbazAdvisor
So How Do We Know About Crowdfunding?
Team Members Consult and Advise for the following crowdfunding platforms:
This gives us a unique insight into crowdfunding and what works and of course what doesn’t. We have learned from the best and facilitated winning strategies and campaigns
for platforms that have raised millions of dollars.
We’ve done it for others. Now it’s our turn!
