This is a very interesting concept for reasons outlined below. Please register using the beta codes as soon as possible if it is of interest
Grow VC is now live in beta launch. I have 50 beta launch codes (JFPUDJ) . i.e. only 50 people can register with this code.
The company is co-founded by serial entrepreneur Jouko Ahvenainen who also founded Xtract and is well known in the Telecoms space.
The key differentiatior is a relatively smaller amount of funding(a grassroots approach) and a global perspective – almost like Zopa OR kiiva for the tech startup / equity industry. This is a concept very much needed in a recession to get startups off the ground. It would suit many types of applicatons including potentially iPhone apps.
As the GrowVC web site says:
Grow VC is Venture Capital 2.0, bringing the first truly transparent, international, community-based approach to early stage funding. Grow VC can help mobile and web 2.0 startup stars secure initial funding for their businesses ranging from $10,000 to 1m USD. Grow VC will not only connect startup entrepreneurs with ‘funders’ (investors) to help them discover their common interests, but also provide tools for the process and new transparent ways of doing things. Grow VC international headquarters is located in Hong Kong.
Their press release says more: The key points of interest are:
1) Grow VC reinvents the traditional funding model with the Web‟s first framework for investments ranging from $10,000 – 1m USD, where investors and startups are equals within one community, without borders.
2) Grow VC enables early stage web and mobile startup companies to match-make with „funders‟, or startup investors, located anywhere around the globe. Having a truly transparent approach, Grow VC is founded on the premise that financial investment should be rooted in the same interactive, community-mindset that the Web 2.0 world is noted for. Hence an open, information-finding and reputation-building source is the heart of Grow VC’s groundbreaking model, according to co-founder and CEO, Valto Loikkanen.
3) “We call it „venture capital 2.0‟ because it’s the first service with a live, continuous, interactive, open approach to funding,” said Loikkanen. “Anyone who is passionate about finding and growing the Internet‟s next big thing can benefit from joining Grow VC. We are growing a quality, vetted, and respected community and sustainable business model to support the Web‟s next rock stars by giving power to the people. Any startup who has become frustrated with the one-sided VC process, as well as any investor who needs one place to find new innovative companies, now have a community to call home.”