Inspire-A-StartUp is the brainchild of AbangAbu. Entrepreneurs can use the Inspire-A-StartUp to pre-sell their product or service, and then use the proceeds as seed capital to start their business.
“The beauty of this funding is that you don’t have to pay the money back, unlike a loan, and you don’t have to give away any equity either,”
Inspire-A-StartUp designed to help other start-ups.
What inspired the idea for INSPIRE-A-START-UP FUND?
At the middle of this year, a young friend came up with a really good business idea. Problem was, he needed about $50,000 to get it off the ground.
He got knocked back by just about every bank in Singapore when he applied for a loan because he was inexperienced and didn’t have much in the way of personal assets to secure a loan.
I were thinking not just about him but there are many people like him around with great ideas but lack of fund to get in rolled on. For young entrepreneurs , there are many initiatives for them as well many supports from many organization to fund their projects and start up.
BUT what about the middle age group people who might have the great ideas to get started but no one to provide the start up funding.
So on the one hand, I saw an awesome new business model that was raising lots of money online crowd-funding, and on the other hand there is another untapped market that, I believe, is an even better fit for crowd-funding entrepreneurs.
I put both of those concepts together and came up with Project Inspire-A-Start-Up.
In order to prove this concept is a working concept I am taking up the project POST-AN-INSPIRATION to create the FUND.
I am using the crowd funding concept in raising SGD100K as the capital to start INSPIRE-A-Start-UP FUND.
Crowd Funding —is a concept where you will sell the products or services in order to raise the fund needed to start your ventures. So this is not a loan or an investment.
If you would like to be part in this inspiring initiative do lend your support in taking part in INSPIRE-A-Start-Up PostCard project.
THIS POSTCARD is designed to Support the INSPIRE-A-Start-Up
Price : SGD4/RM10
Just send ONE card to ONE entrepreneur or a business person you know and share this link with others by clicking the share button below.
