The public online vote for entries in the international BOLD Awards, launched by Crowdsourcing Week, has closed leaving five nominees in the Crowdfunding category – as well as in each of the other 11 categories.
The main factor each entry had to satisfy was that they had achieved something significant beyond reaching or exceeding their financial target, whether it was a donations-for-rewards project or equity crowdfunding. Here’s a run through of the final five nominees.
Borrow a Boat
After they launched in 2016, I met up with the startup team at the London Boat Show in January 2017. Almost all privately-owned pleasure/leisure boats remain unused for the majority of their lives, moored up and incurring charges in commercial marinas or yacht clubs, while the cost of boat ownership remains prohibitively expensive for the majority of people.
Borrow a Boat connects people wanting to enjoy boating with boat owners who welcome a contribution to the cost of ownership. Through working with partners they have standardised requirements for qualifications, experience, insurance, boat safety, and charter contracting. This has made the whole process simpler and more accessible for people wishing to enjoy recreational boating.
Borrow a Boat ran an equity crowdfunding campaign on the UK-based Crowdcube platform at the back end of 2017. Against a pre-fundraising company valuation of £1.2m they set a target of £200,000 which was smashed when 688 backers invested £468,880 in exchange for 28.1% equity. This was an average of nearly £682 per investor and valued a 1% share of the company at £16,686.
In January 2019 a second round of equity crowdfunding, again using Crowdcube, raised just £20 short of £1.5m from 564 investors for 30% equity. This was an average of £2,660 per investor and valued a 1% share of the company at £49,999.
Last year 18 million people in the UK wanted to go boating, but only 4 million did (source: British Marine Federation, Futures Project). Borrow a Boat has transformed the boat charter business through creating an affordable entry route to open the pleasures of sailing and motor boating to a much wider audience that seeks life-enriching experiences, while providing an income stream and safeguarding the interests of boat owners. They now have over 16,000 boats available for hire via an app that’s used in 60 countries.
This is the largest Italian community dedicated to startup founders and investors. A team of 20 talented people in Milan and Florence creates a daily newsletter with crowdsourced content from 600 contributors and it’s sent to 50,000 subscribers.
They also organise the largest Italian event dedicated to the startup ecosystem and have plans to launch the largest digital training academy for the professions and new businesses of the future. Additionally, they want to create a 3,000 square metre space for a newsroom, with 8,000 square metres for events and networking and 1,000 square metres for training, in a former factory building in Milan.
Their current equity crowdfunding project on Mamacrowd.com closes March 31. To date almost 1,700 backers have pledged over €2.25m.
Tam Development llc
There is a growing number of Saudi youths who are facing problems in finding a job or starting a new business as they have grown up in a rather undemanding and cosseted lifestyle to be passive, unconfident, and inflexible.
Tam Development LLC was established in 2012 with the purpose of engaging and activating the public and helping them reach their full potential, and has successfully designed and implemented over 50 local and regional projects in partnership with 20 government and private entities in Saudi Arabia and the wider Arab region.
They provide access to the range of expertise required to execute startup initiatives from start to finish through Jasarah, a crowdsourcing and initiative management platform that enables users to flexibly engage the public at large plus targeted groups of specialists to help create, manage and deploy challenge solutions that meet global standards in fast-paced advanced technology.
Scribit is an intelligent writing robot that ushers in a new way of presenting digital content, makes it possible to instantly reconfigure and personalise a wall – whether it’s a storefront, an office lobby or your living room.
Any vertical surface can be transformed into a screen where images, messages or feeds are projected through an ‘always-on’ web connection, allowing you to download, upload or source any content from the Internet, or use your own content. Applications include restaurant daily menus with changing availability, stock market prices, art displays and sports results updates. Checkout here the video from their Kickstarter campaign.
Their Kickstarter project in 2018 generated $1.6m of pre-orders from 4,352 backers.
Rappler is social news network of stories in the Philippines that inspires community engagement and digitally fuels actions for social change. Rappler comes from the root words “rap” (to discuss) + “ripple” (to make waves). Readers are encouraged to contribute to crowdfunding projects set up to address some of the issues raised in its content, and to also actively contribute to supporting independent journalism and press freedom, through its crowdfunding and e-commerce platform.
The five nominees here and in each of the other BOLD Awards categories will now be studied by an international panel of judges. They will make their decisions on who are the winners in time for an award ceremony at a black-tie gala dinner in Venice, Italy, on 5 April 2019. A few remaining event tickets are available to spend an evening with award winners, category and event sponsors, and the Crowdsourcing Week team and some of its investors.