Crowdfunding has taken off in healthcare, and although the majority of campaigns fail, those that succeed seem to be getting most of their dollars from their close social networks.
But assembling that network early and keeping track of everyone in it is easier said than done. That’s why a tech startup called MyProject.is is giving entrepreneurs a simple way to engage their network of friends, family, mentors, investors and fans before asking them to contribute to a campaign.
Entrepreneurs use the platform to create a “project,” which could be something as simple as an idea for a new product. They connect their MPI account to their social media accounts and then use it to post updates and issues that come up as they work. MPI’s artificial intelligence suggests which people in the network would have the most relevant interests and expertise for those issues and ideas, so the entrepreneur can share them only with the people who are most likely to provide feedback or help.
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It also gives companies a way to document their histories, CEO Jon Leland said, both for themselves and for future investors.
The platform is currently in private beta, but should launch publicly this spring. The team already has some investors on board including IDEO founder David Kelley.
Here’s Leland explaining the concept at StartX’s Demo Day last night:
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[Photo courtesy Paul Sakuma]