Seedups is the UK and Ireland’s first crowdfunding site for Entrepreneurs, and has been in Beta launch since November. Using an innovative wisdom of crowd methodology, Seedups aims to bring tech-based start-ups in contact with savvy investors.
Before going live at the end of January, UK and Irish based companies are wanted to populate the site. The ambitious company will launch their US operations at SXSW in March, and founder Michael Faulkner has been in talks with partners in Switzerland for a mainland European launch.
Seedups has been described by some as “Dragons’ Den meets Facebook” and by others as a “dating site for entrepreneurs and investors.” For the entrepreneur, Seedups currently allows access to a pool of 35 investors, who have pledged an investment fund of over £2.5 million.
“Seedups is aimed at giving start-ups the funding they need to succeed” said founder Michael Faulkner, who has a long background mentoring small businesses in his work with Enterprise Boards as well as funding his own businesses.
Mr. Faulkner went on to explain “many innovative ideas fail to get off the ground because of lack of funding at seed level, not because they’re bad ideas.”
“The initial funding for many projects is often the hardest to raise, as banks see it as too high risk and venture capitalists and angel investors often see the project as not developed enough to stake larges chunks of capital.
While crowdfunding becomes more newsworthy, Seedups combines its approach with cheaper fees than its competitors; it is free to register, and offers entrepreneurs the chance to hold onto larger equity stakes than other companies.
Tipper: Connor Doherty