It works by totting up contribution points as people in a project complete tasks and contribute to it. These points then become the basis for the profit share that each contributing member receives (including the creator/owner of a project). To read up on more of the features of the site, head over to the features page.
A new, sustainable and equitable structure for businesses
With huge tech companies like Uber, Slack and AirBnB benefiting tremendously from VC investment, it's easy to end up thinking that private equity is the best way to start up a modern tech business. But the truth is, that's the Unicorn Bias - the bias we attribute to those startups successfully financed and valued at $1Bn+, for which there is a lot of fanfare in the media and in the Silicon Valley world.
The problem, however, is that this bias hides the truth that a huge number of startups fail, something which VCs like to cover up as quietly as possible. In some sectors, the failure rates can reach as high as 97%. What all this means is that private equity is failing to comprehensively fill the funding gap for new ventures and that's fundamentally why Crowdsourcer.io was built, to provide another route for people to start businesses.
The chart to the right depicts the most cited reasons for failures in startups. The highlighted problems - in colour - Crowdsourcer.io directly tackles. Crowdsourcer.io works by swapping out financial investment for time and talent investment. By taking the focus away from huge wads of cash, you encourage sustainable business practices, low burn rates and allow more people to start businesses.
Running out of cash: with this new model, you'll always be able to create products for free using manpower alone.
Not the right team: many startup founders don't have the right skills to build a Minimum Viable Product, but with Crowdsourcer.io teams are only ever built around valuable expertise.
Outcompeted: markets are saturated and many businesses struggle to be seen on the Internet of Things. Crowdsourcer.io aims to provide a marketplace and selling tools so you don't have to compete with the big players.
Cost issues: by focussing on time investment there are no costs for developing your product, and by avoiding the Silicon Valley mentality, burn rates are next to nil.
Using Crowdsourcer.io to build Crowdsourcer.io