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  1. Agriya’s Crowdfunding Website Aims For The Stars

    Peter on March 3rd, 2011

    Tags: , , , ,

    Several months ago we announced the launch of our new crowdfunding website called FundProjectsWith.me which enabled anyone to open a web development project and seek funding from the crowd to turn it in to a reality. Since it launched we have been busy adding new projects which you might be interested in – everything from an Etsy clone to a Bitly clone.

    We are also pleased to see that some members have started adding their own projects and are looking to people like you to help fund their ideas. Don’t forget, if you come on board and fund a project, you get a stake in it and can profit from it yourself!

    Fund Projects Is About Crowd Funding For Your Projects

    Fund Projects Is About Crowd Funding For Your Projects

    There are now over 40 projects listed on the website which you can get involved with. All kinds of websites are available to be developed – although we think some people are being a little optermistic with their requirement for a complete Yahoo clone! So far the most popular project seems to be for the Yelp clone.

    With the increased amount of interest in the website we’ve also had a fair number of questions from confused and perplexed visitors so we thought we’d take this opportunity now to answer some of the most frequently asked questions.

    So tell me again, how does this work exactly? Why are we listing projects and why should we fund a project?

    OK, take a deep breath, here goes…

    1. Just like any large company, Agriya doesn’t like to take too many risks
    2. Developing a product like our Groupon clone takes a huge amount of resources, time, effort and of course MONEY. We estimate that some $150,000 worth of developer time has gone in to the software since we launched it.
    3. There are so many different websites that people want clones of
    4. Agriya wants to continue developing clone products, but only based on market demand
    5. The Fund Projects website helps us gauge market demand for a particular project
    6. The Fund Projects website helps us reduce the risk we take because people are able to pledge money
    7. YOU benefit from this because you might want to create a website based on another site but can’t find a suitable ready made solution. Getting the software custom developed is probably not an option because the costs are so high.
    8. YOU tell us what you want us to develop and pledge just a fraction of the total project cost.
    9. YOU can publicize the project and get other people interested and pledging money
    10. The project budget given is 50% of the total project cost and is the amount that the crowd needs to pledge before work can start. Once this amount is met, Agriya pledges the final 50% of the project cost to start the project
    11. Once the project cost has been fully met with the pledges the project will close, your money will be transferred to Agriya and Agriya will assign developers and resources to start building the project.
    12. Agriya will market and sell the product and you will receive a share of every sale made, based on how much you pledged.
    13. Everyone wins. YOU get your website built for a fraction of the cost. YOU earn up to double your original money back because you were one of the original investors and Agriya gets to reduce the risk of developing a new product.

    Phew! Does that make more sense? Please let us know! Now here are a few more specific questions which people have asked us recently.

    1. Can anyone add a project to the site?

    Yes, anyone can add a web development or software development orientated project to the site in order to raise funding to get it developed by Agriya. It’s all about market demand, if Agriya sees a good market demand based on the money being pledged, we’ll help you get it developed.

    2. Can I add iPhone, Android, Windows application etc. projects?

    Yes, anything that is related to software development or web development can be added as a project and as long as it can be sold as a product afterwards.

    3. Why would anyone fund my project? What do they get out of it?

    At the moment FundProjectsWith.me is based around projects which create a product which can be sold to the masses once it is finished. If you list a project then other people who are interested in running a similar website can contribute so that they can save money and earn a percentage of the profits where they can earn up to double their money back (based on sales).

    4. Will only I be able to use the software?

    No, anyone who pledges money will have access to the software and it will also be sold as a product by Agriya where you earn a percentage of the sale

    5. Who will develop my website or software project?

    The projects posted on FundProjectsWith.me will be developed exclusively by Agriya. At this time you cannot raise the funds and choose a different development company.

    6. Who will own the copyright to the project I get developed?

    The copyright is owned by Agriya since we are developing the project to sell to the market. You are pledging some money to be involved. If you wish to have the copyright for the software then you will need to pay the full amount for the project cost.

    These are just a few of the questions we’ve been asked so far. Please take a look at the website for yourself and discover how you can get your dream project off the ground right now with the power of the crowd and a little bit of help from Agriya.

    If you’ve got any suggestions or thoughts about the fund projects website please let us know in the comments below!

This entry was posted on Thursday, March 3rd, 2011 at 10:00 pm and is filed under Crowdsourcing. 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.

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