email@example.com 1/13/2016 Categories: Business Total Comments 7
iInvest is a crowdfunding platform where you can post projects with the funding required to make it to the market. Those projects are backed by large number of investors who pledge some amount of funding to the particular project. In this way, entrepreneurs can get their project funded with iInvest.
Crowdfunding is the practice of funding a project or venture by raising monetary contributions from a large number of people, often performed via internet-mediated registries. iInvest aims to be the crowdfunding platform for Nepal. Anyone can post the projects in iInvest. The projects could come from artists, designers, and creative people from all over the country. The projects may be new ideas or old ideas with a twist. Every project are unique on their own way and can be something that someone wants to exist in the world. Every project has a funding goal which is the total amount of money required to bring that project to life. Backers or Investors are the people who pledge some amount of money for the project. Backers may be someone who likes your idea or wants the project to come to life. In return, backers will get equity on the project, as determined by the creator of the project. In this way, iInvest would fill the gap between ideas and investment to promote innovation within Nepal.
Target Location :Kathmandu, Nepal
Target Audience :Entrepreneurs and students with new ideas
Innovation culture will flourish with various startups, which would have been impossible without investment. Many ideas die at their earliest stage due to lack of investment/investors. But with iInvest, each of those ideas gets an opportunity to flourish via crowdfunding and bring each of those ideas to life.
Early Feedbacks from People:
"We are familiar with many cases of bright young minds being unable to realize their amazing ideas due to a lack of fund. In a country like ours, crowdfunding seems to be a great way for worthy ideas to get financial support from people who believe in them. So, to ensure that deserving ideas realize their full potential and help change the country for better, this proposed concept of a crowdfunding site needs to implemented asap." - Suyash Prakash Nepal, Student
Business PlanEstimated Human Resources :
Web Developer- 2
App Developer- 2
The purpose of iInvest is to fluorish innovation culture by providing opportunity to entrepreneurs to get funded via crowdfunding.
Most of the innovative and promising ideas die at their early stage due to the potentially large investment requirement that cannot be handled by the individual or a team. What if there was a platform where we can post those ideas with the required investment and then the investors (potentially many) would pledge some amount of money for the project? There are various global crowdfunding platforms but due to certain legal restrictions, using those platforms to start new bussiness in Nepal does not seem viable. For this, we need a platform where we can perform online payment using Nepali payment gateways.
iInvest would be the crowdfunding platform. Here, entrepreneurs will post projects with investment required and investors will back those projects pledging some amount of money. In return, investors will get equity on those projects.
Research- 1 month
Website Development- 2 months
Total - 3 months to develop a functional crowdfunding website.
Market Research :
iInvest will make profit by deducting 5% of pledged money + payment processing charge as the charge for using the platform.
Intended Customer :
Intended userbase of iInvest consists of entrepreneurs, students or any individual with a profitable idea seeking investment and the investors willing to invest in startups.
Technology Required :
Website, Online Payment, Mobile Application.