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Finding funding for projects can be difficult to say the least. The options are out there—angel investors, venture capitalists, grandpa—but they’re not always realistic. Let’s just say, it takes a lot of convincing to get money into your hands. Certainly, there’s been a throng of Web 2.0 sites that aim to help entrepreneurs fund their ideas, but it’s often daunting and the terms may not be what you’re looking for. Now there’s Fundability which promises a slightly different approach to raising funds. Fundability works with entrepreneurs and investors with social networking tools that allow investors to browse startup profiles and get in touch with the ones they like. Entrepreneurs cans use Fundability’s multimedia tools to create elevator pitches that aren’t confined to text, but have an audiovisual element as well. The service costs $49.99 per month.
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| In their own words | |||
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“We created Fundability as a marketplace where entrepreneurs and investors can find funding success. We are entrepreneurs and investors who know that funding success requires quality startups and qualified investors. Each year, more than 400,000 U.S. entrepreneurs pursue more than $50 billion in angel investment and venture capital. The challenges each entrepreneur faces in pursuing these funds are daunting. Most ventures fail because they are not found by the right investors at the right time.”
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| Why it might be a killer | |||
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Fundability provides a nice new alternative to finding seed money to get your company started. It provides social networking and multimedia tools for entrepreneurs to reach out to investors in new and innovative ways.
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| Some questions | |||
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Does Fundability work? Are the investors the real deal? Or will it be more of a headache than a help? Finding the right investor and partner isn’t easy—what recourse does the entrepreneur have?
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