Published on April 20th, 2007 | by Tod Whipple1
The startup funding dream – The silver lining in StartupAddict
The general word is out that Startup Addict is a social networking platform for entrepreneurs with big ideas. Aside from pooling all of the strengths of a social networking community, the true power of StartupAddict lies in the funding section of the website. The reason why we always say “join the startup revolution” (beside being catchy) is because it truly transcends all historical funding and investment approaches. Traditionally four approaches exist for the entrepreneur:
1. Personal funds
2. Friends, family, associates
4. Venture Capital
The Funding section of Startup Addict focuses specifically on the friends, family, co-workers portion of funding and facilitates the process in a peer to peer lending format. The stranger in Ohio (lender) can fund an idea and entrepreneur he believes in located in Florida (Borrower). The goal ensures “no good idea is left behind” for the entrepreneurs that would have otherwise had doors shut in their face. The holy grail of funding is VC if you are willing to sacrifice equity; and that is certainly appropriate if an entrepreneur or startup is in the scale phase. Pre-seed and seed funding for startups needs a better approach and while VC’s are adjusting their business models like Y Combinator and Charles River Ventures Quickstart, Startup Addict is meets the need for the masses. Remember Dream Big. Be Great. We will make sure lack of funding doesn’t get in the way of that.