Raising capital for a new business is difficult in these economic times. Outvesting is a company aimed at helping businesses in Ireland get off the ground, since Ireland has had a particularly difficult time during the global recession.
Using a grassroots approach via Twitter, Outvesting hopes to give about $7,400 with “no strings attached” to any Irish startup, says Springwise. To do this, Outvesting is using Twitter to invite interested participants to contribute about $74. Startups can apply for the money while donors get a chance to vote on which ones get the cash.
What's Driving This Trend
- Crowd-funding Startups
- Disruptive innovation opportunity: Developing a platform that combines crowd-funding with social media to connect investors with startup companies.
- Grassroots Capital Raising
- Disruptive innovation opportunity: Creating a digital platform that enables individuals to contribute small amounts of capital to support local businesses and startups.
- Social Media-enabled Funding
- Disruptive innovation opportunity: Building a social media platform that facilitates the exchange of funding between investors and entrepreneurs, while allowing donor participation in the decision-making process.
Who This Affects Most
- Finance
- Disruptive innovation opportunity: Developing digital platforms that revolutionize the way capital is acquired and allocated for startups and small businesses.
- Technology
- Disruptive innovation opportunity: Creating advanced digital tools and applications that streamline the crowd-funding process and enhance donor engagement and voting mechanisms.
- Social Media
- Disruptive innovation opportunity: Designing innovative social media platforms specifically tailored for crowd-funding and supporting grassroots initiatives in the business sector.
