Serial Entrepreneur Launches Crowd Funding Platform

Written by Innovate New Albany@InnovateNA12 years ago

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Who better to create a crowd-funding platform exclusively focused on startups than a serial entrepreneur. Internet veteran and entrepreneur Wil Schroter who has launched several successful startups is leveraging his professional experience to create Fundable to help startups raise rewards-based and equity-based funding.

How does it work?

• Startups submit an application to join Fundable
• If approved by a team of advisors, the startup builds a profile, including its fundraising goals and the rewards or return for potential backers
• Startups reach out to their personal networks and the broader Fundable community to enlist support and funding
• Backers make cash pledges starting at $1 and can also offer personal assistance to help get the startup off the ground
• The startup must meet or exceed its goals before money is collected from backers

According to a recent article in Business First, Fundable helped Training Mask, LLC raise $10,000 in seed capital in just three days.

Schroter, Founder and CEO of Fundable merged his first company Blue Diesel to become inChord, a healthcare marketing firm that eventually grew to over $650 million in billings and was sold to inVentiv Health. He then launched Virtucon Ventures, an early stage incubator that in turn launched Swapalease.com, Go BIG Network, Bizplan.com, GotCast.com, Affordit.com, Unsubscribe.com and Fundable.

Innovate New Albany, the city’s incubator for technology startups, entrepreneurs and small businesses, features 16,000 square feet of space within the New Albany Business Park’s Signature Office Building, 8000 Walton Parkway.