Outvesting in Ireland

A FEW WEEKS AGO, James Corbett (at left in brown) mooted the idea of "outvesting" and today it's in the Business section of the Irish Times. "The Outvesting scheme is using Twitter to help gather €5000, asking 100 people to pledge €50 each to the cause," explains Ciara O'Brien. Two weeks into the idea, there's 5000 euro on the table. "Unlike investors, those who pledge their money expect nothing in return." James told attendees at Limerick OpenCoffee that the outvesting idea was inspired by the iQ Prize, which gives a no-strings-attached €10,000 to an entrepreneur with a good idea. This year, Robin Blandford's Decisions for Heroes web-based rescue team management and analytics software got the pot of money for further development. I hope the outvesting idea keeps on rolling because start-ups need funding channels to keep focused on getting their products ready for market.

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James Corbett announces outvesting and "over 100 pledges" received.

Ciara O'Brien -- "Online campaign seeking €5000 to offer to start-up" in the Irish Times, 16 Oct 09.

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