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Hey all,
I've had an idea that I've developed and worked on for the last three years, and I've slacked off from actually getting anything done about it - and I want to change that. I want to start a (pty) ltd private company by the end of the year, but this is a huge challenge for me, because I don't have any education in business other than a few years of economic and management sciences taught to me during primary and high school. I know I need to gain capital in order to get my business running, but that in itself is also a challenge because I'm only 19 years old and I fear I wouldn't be taken too seriously by investors, and I'm also not comfortable with seeking investors because the principle behind my business is not one of commerce or retail, it involves royalties and advertising income generated through eCommerce, so I cannot accurately project a thorough financial analysis that would be convincing enough to attract investors or even offer the foundations for a solid exit strategy, so I figured my only resort would be crowd funding.
I've planned to use www.kickstarter.com in hopes to raise funds for my business, but there's a drawback in the sense that one needs to qualify for an Amazon payments account. in other words, I need to be an American citizen. I spent a long time looking for workarounds and came across a company called Bridgestarter, that offers revenue collection services, enabling individuals outside of the United States to use Kickstarter by providing them with a holding account that costs a fixed, set price per procedure. That was my failsafe, but it seems fate has taken a turn for the worst because of a little issue Bridgestarter is having with their revenue collection services:
I'm running out of funding options here - does anyone have any advice to give me that I could put to use in the quest for financing my dream?
I've had an idea that I've developed and worked on for the last three years, and I've slacked off from actually getting anything done about it - and I want to change that. I want to start a (pty) ltd private company by the end of the year, but this is a huge challenge for me, because I don't have any education in business other than a few years of economic and management sciences taught to me during primary and high school. I know I need to gain capital in order to get my business running, but that in itself is also a challenge because I'm only 19 years old and I fear I wouldn't be taken too seriously by investors, and I'm also not comfortable with seeking investors because the principle behind my business is not one of commerce or retail, it involves royalties and advertising income generated through eCommerce, so I cannot accurately project a thorough financial analysis that would be convincing enough to attract investors or even offer the foundations for a solid exit strategy, so I figured my only resort would be crowd funding.
I've planned to use www.kickstarter.com in hopes to raise funds for my business, but there's a drawback in the sense that one needs to qualify for an Amazon payments account. in other words, I need to be an American citizen. I spent a long time looking for workarounds and came across a company called Bridgestarter, that offers revenue collection services, enabling individuals outside of the United States to use Kickstarter by providing them with a holding account that costs a fixed, set price per procedure. That was my failsafe, but it seems fate has taken a turn for the worst because of a little issue Bridgestarter is having with their revenue collection services:
PRESS RELEASE
May 9, 2012
We have learned that our Revenue Collection Services - which provide individuals outside of the US with the ability to use Kickstarter - have, effectively, been shut down. Amazon Payments sent notice that Bridgestarter's accounts have been suspended. We are currently trying to rectify the situation with Amazon Payments and hope for a speedy resolution. In the meantime, we have refunded all fees paid by our customers and have issued letters of explanation and apology.
In spite of this setback, we remain committed to helping entrepreneurs raise money for their projects:
Both our Professional and Distribution services remain available to those wishing to launch projects on other crowdfunding sites (i.e. indiegogo.com, rockethub.com, etc.);
In the coming weeks, Bridgestarter.com will be redeveloped to enable entrepreneurs to promote their projects on the site for free; and
We are watching the CROWDFUND Act legislation in the United States, as there may be an opportunity to use Bridgestarter as either a vehicle for crowdfunding or as an investment fund.
We hope to resolve the situation with Amazon Payments and enable the world to access Kickstarter once again. This is because Kickstarter remains the deepest market for the funding of creative projects in the world. The founders of the site were innovators, just like Bridgestarter's customers. They inspired the world to create and support creators in a way no one else had ever imagined. This is an example of financial innovation that has come from the people and not from banks or governments. Everyone deserves access to the benefits and freedoms this offers.
Please reach us with any questions at info@imaginationunleashed.ca.
Alex Cruder
Founder of Bridgestarter.com
May 9, 2012
We have learned that our Revenue Collection Services - which provide individuals outside of the US with the ability to use Kickstarter - have, effectively, been shut down. Amazon Payments sent notice that Bridgestarter's accounts have been suspended. We are currently trying to rectify the situation with Amazon Payments and hope for a speedy resolution. In the meantime, we have refunded all fees paid by our customers and have issued letters of explanation and apology.
In spite of this setback, we remain committed to helping entrepreneurs raise money for their projects:
Both our Professional and Distribution services remain available to those wishing to launch projects on other crowdfunding sites (i.e. indiegogo.com, rockethub.com, etc.);
In the coming weeks, Bridgestarter.com will be redeveloped to enable entrepreneurs to promote their projects on the site for free; and
We are watching the CROWDFUND Act legislation in the United States, as there may be an opportunity to use Bridgestarter as either a vehicle for crowdfunding or as an investment fund.
We hope to resolve the situation with Amazon Payments and enable the world to access Kickstarter once again. This is because Kickstarter remains the deepest market for the funding of creative projects in the world. The founders of the site were innovators, just like Bridgestarter's customers. They inspired the world to create and support creators in a way no one else had ever imagined. This is an example of financial innovation that has come from the people and not from banks or governments. Everyone deserves access to the benefits and freedoms this offers.
Please reach us with any questions at info@imaginationunleashed.ca.
Alex Cruder
Founder of Bridgestarter.com
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