growvc

From day one when we started building our platform over a year ago, it’s been in our strategy to offer our platform to other organizations that are actively developing their local startup ecosystems around the world.

For us to be able to enable the community funding model, we have had to build a lot of additional functionality around it so it can cater to related functions as well, like the different roles, basic social networking, service investments etc. As such the platform itself is very capable to cater as a basic platform to startup funding activities and we are actively developing it forward.

After having received an increasing amount of feedback and confirmation that there is a need for our type of platform in many parts of the world, we are now officially announcing local platforms concept.

In this concept, each platform can be run independently by the local partner and is offered as a software and as a service. Local platforms can be directly connected to our global platform or run as isolated networks with their own rules. In these isolated platforms, the members can independently choose to join the global platform and activate their profile there if they like.

This way local platforms can also be more customized to cater for the local needs and those can also cater to wider spectrum of business segments (in addition to just web & mobile).

There is two main models for local platforms.

1. If a local partner has its own funding model: revenue share -the local partner pays revenue share to Grow VC for the rights to use the platform and services. Part of this revenue will also go to global community fund. Grow VC’s services are not directly available for the local partners members, but members can independently choose to join Grow VC’s
2. If the local partner wants to use Grow VC’s model as is: the use of the platform is free for the local partner and all its members have access to Grow VC’s global services, the members pay Grow VC’s membership fee normally. The local partner can get additional revenue from its own services for the members and from its own partners.

Since the local platforms are offered as software and as a service, local platforms will enjoy all the benefits of the global platform developments (including the pat. pending community-fund crowdfunding model) and the best practises of other local networks.

With this model, we want to help local ecosystems in different cities and countries around the world and also have a connection to global markets & contacts for everyone to benefit from these connections.  Ultimately being able to help entrepreneurs and startups also in other industries to grow from their local markets to global markets within their familiar network.

The kind of partners we are looking for feels this role as natural and is active in his/her own startup ecosystem, currently organizing startup events, running local angel network or offering similar tools for the local ecosystem at he moment.

Since we are just announcing this, we are looking to start this with few selected partners, so that we can also manage all of the details efficiently with each partner.

If you are interested to run your local network in our platform, contact us via partner@growvc.com

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Tags: local

This entry was posted on Wednesday, March 10th, 2010 at 4:15 pm and is filed under Entrepreneur Inspiration, Online Startup Business, Private investors, Startup Investors. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.