Democratizing impact investment with blockchain.
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Date You Started Your Project Started
Project Stage: Select the description below that best applies to your approach.
Start-Up (first few activities have happened)
1. The Problem: What problem are you helping to solve?
There's a huge disparity in where investment money is going because there's no easy way for impact investors to invest in social entrepreneurs in developing countries. As a result, almost 1 billion people are hungry, and half of the world's population lives on just a few dollars a day. On average, charities are taking 11% fees. This is because there are a lot of hurdles and steps involved in sending money, but blockchain can dis-intermediate it.
2. Your Solution: How are you planning to solve this problem? Share your specific approach.
We will create an equity crowdfunding platform using blockchain to minimize fees and put more impact investment dollars into developing economies. For now, the platform is using "ERC-1404" Security Tokens on the Ethereum blockchain, which allows projects to "tokenize" their equity, or put it up on the blockchain. It will then be available for crowdfunding by impact investors.
3. Personal Journey: What’s the story behind why you decided to start this project?
I just don't think it's fair that billions of people lack access to even minimal startup capital to pursue their dreams. There needs to be a better distribution of investment money.
4. Selfie Elevator Pitch: Include 1-minute video that answers the following “I am stepping up to make change because...”
5. Example: Please walk us through a specific example of what happens when a person or group gets involved with your project.
We're not launched yet, but here's an idea: An entrepreneur in rural Nigeria wants to build a windmill to bring electricity to their village, which is nearing extinction. Without access to capital, they can't acquire any of the needed resources. With AngelStarter, they list the project, and offer equity to people in developing countries in exchange for much-needed capital.
6. The X Factor: What is different about your project compared to other programs or solutions already out there?
There is no equity crowdfunding platform focused on social entrepreneurship, because there's no equity crowdfunding mechanism on the market with low enough fees (e.g. using Security Tokens). There are many other crowdfunding platforms, such as Kickstarter and Indiegogo (neither of those offer equity however). There are also equity crowdfunding platforms like CircleUp.
7. Impact: How has your project made a difference so far?
We will make a massive difference in the UN's SDGs by funneling billions of impact dollars to developing countries.
8. What’s Next: What are your ideas for taking your project to the next level?
We will bring the product to production-level, then seek licensing as an equity crowdfunding platform either in New York or California. We will then pursue partnerships with leading corporations.
9. Which of the following types of expertise would be most useful for you?
Help Us Support Diversity! Part 1 [optional] Which of the following categories do you identify with?
White (for example: German, Irish, English, Italian, Polish, French) (6)
Help Us Support Diversity! Part 2 [optional] Do you identify as part of any of the following underrepresented communities?
Religious minority (non-Christian)
How did you hear about this challenge?