Crowd sourcing startup Cambrian House is headed to the deadpool. The company had a bold concept of letting web users submit ideas and rally around the viable ones. The crowd would get a piece of profits as the idea turned into startup success. A significant problem the business ran into was the following:
A key assumption for us, which proved out NOT true: given a great idea with great community support and great market test data, we would be able to find (crowdsource) a team willing to execute it OR we could execute it ourselves. We needed amazing founding teams for each of the ideas – this is where our model fell short.
-Cambrian House CEO Michael Sikorsky
There is no doubt great ideas are still just ideas if poor execution and lack of commitment is evident. According to TechCrunch, Cambrian House was unable to secure another round of funding and will be liquidating assets and intellectual property.
It is sad to see Cambrian House close the doors with such an amazing concept and one so deeply rooted with similarities to StartupAddict.com.
It looks like the next evolutionary step for Cambrian House is VenCorps
Other coverage on Cambrian House