Earlier this fall, Wed3 Angel Network founder David Moore developed a platform that links startups with investors. Aptly titled CharlotteStartupFunding.com, the website enables businesses to advertise their product/service to receive equity funding. The platform has been compared to Kickstarter, enabling entrepreneurs to publicize their business easily, clearly and conveniently.
Charlotte Business Journal recently conducted a Q&A with Moore about his new project. Below are selected excerpts:
Why did Wed3 create CharlotteStartupFunding.com?
I didn’t start with a bunch of money. I bootstrapped when I started. So I had the feeling that if our group didn’t like a deal, it shouldn’t just die. It should go somewhere. The thought was with the world changing and all these lifestyle businesses, they needed a place to go. So we created this website.
Everything is looked at. If you’re a lifestyle business that needs to bootstrap, you can get purchase commitments and sell your product and get to market. That’s a great alternative for people who want to create their own job. On the flip side, we have a lot of angels who want to participate in a virtual networking group. So we have another tier for investable, high-growth, high-tech companies. The back end of the website functions as a private deal room.
What’s the advantage to pitching here rather than Kickstarter?
You could go to Kickstarter and create a project or product. But they’re not really letting you start a company. We’re going to let you start a company. No consulting companies selling vapor (laughs). But that is one difference. The second thing is there is no fee. It’s free.
If it’s free for users, how is it funded?
I’m doing it myself. And there are some ancillary benefits. I make networking contacts. There might be some deals that come through that I want to invest in. I might have some ideas I want to put through the pipeline. For me, I just really enjoy doing this sort of thing. And we have an IT company, so the cost for me is minimal.
You can view the interview in its entirety here.