CREED, a non-profit 501 (c)3 corporation qualified with the Internal Revenue Service (IRS), is launching a crowdfunding initiative to jumpstart small business in the U.S. Crowdfunding involves collecting small donations via grassroots marketing campaigns. The donations will be used to fund $5,000 in free start-up capital, awarded to the entrepreneur who sends in the most compelling business plan.
Crowdfunding or crowdsourcing programs have been run successfully by two organizations in Ireland,Outvesting and iQ Prize. The two entities raised an aggregate 15,000 euros, by way of 50-euro pledges, to fund small business start-ups.
CREED’s effort will be similar. The non-profit is currently accepting $50 pledges, with a goal of accumulating $5,000. Once this pledge goal is reached, CREED will publish business plan submission guidelines and begin accepting business plan entrants. Everyone who pledges $50 to the effort receives one vote to help determine the best business plan among those entered. The plan with the most votes will be awarded $5,000 in start-up capital, with no strings attached.
Please visit Crowdfunding to learn more about CREED’s this great American opportunity.
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