What is happening on the first week of June in Singapore? Yes, we know, Echelon, our flagship business and tech event is coming up. But what else is just as exciting and awesome? Well, it’s going to be the first time the city-state will see international startups come together to pitch and participate in a crowdfunding challenge.
Crowdsourcing Week will be a five-day event, from June 3 to 7 this year, which is hosted by RocketHub, a pledge-driven crowdfunding platform. Brian Meece, co-founder and CEO of RocketHub lauded crowdfunding as a way to gauge market feedback and demand. “We are excited to host the Crowdsourcing Week Startup Challenge, which is empowering collaboration within the international start-up scene. Crowdfunding is an authentic way to gauge market demand for endeavors, so these entrepreneurs will get valuable feedback on their early stage products and companies.”
Startups are to submit their business plans by April 8, 2013 and within that pool of submissions, only 10 will be handpicked by a panel of venture capitalists and startup mentors. Those 10 will compete to raise US$30,000 capital on RocketHub, with the top three taking the stage and being crowned as grand winners on June 6, 2013.
Excited to include the startup competition in their program at Crowdsourcing Week, Crowdsourcing Week co-founder and CEO Epirot Ludvik Nekaj said that “[t]his dynamic platform will allow startups from all over the world to pitch their ideas to an impressive panel of VCs and startup mentors while testing market response via crowdfunding. We also hope to see some innovative crowd-centric startups in the mix.”
RocketHub will also consult with these 10 chosen startups on how they should assemble and promote a crowdfunding campaign effectively. The panel of judges include startup investors and advisors like Yen-Lu Chow, WholeTree Ventures; Mark Hon, Business Angel; and Jeffrey Paine, Partner at Golden Gate Ventures and Director of the Founders Institute in Singapore.
Image Credit: Crowdsourcing Week