Outvesting.org, the online campaign which has raised a €5,000 fund through donations on Twitter is now seeking applications from Irish entrepreneurs. The entire fund will be gifted, no strings attached, to one lucky start-up after a review and voting process.
“We simply asked people to pledge €50 each in the hope that one hundred others would do likewise. Those pledges came rolling in and in the space of four weeks were converted to donations amounting to the target €5,000”, said John Keyes, one of those behind the project.
Applications can be submitted to the Outvesting.org website until November 21st and the winner will be announced on December 7th. Those who donated to the fund will review applications and vote on the start-up with best potential.
“There’s obviously a groundswell of opinion that entrepreneurs should do more to help ourselves at this time of banking and economic crises. We just tapped into the generosity and goodwill that exists within the start-up community in Ireland”, said James Corbett, the other half of the Outvesting team.