Web 2.0 meets Funding 2.0
Spigit is a newly launched community that aims to provide a network of support for start-ups and their founders - the Entrepreneur Challenge. The simulation engine provided by spigit is a way to sort of test out your idea. The simulation runs through three stage where approval badges are awarded for things like buzz percentile, number of views, and expert approval. Completion badges are awarded at the end of each stage, enabling ideas to graduate to the next level. Several data points are considered for the simulation engine, including the tracking of dynamic interaction on the site. Spigit’s simulation benefits carry over into the virtual stock market as well, where “spigits” can be traded to determine the market value of a particular idea. 6 Top Companies will meet with Keiretsu SoCal; 1 will be selected to present to Keiretsu Investors for Funding Opportunities.
This is a very cool example of how social media is being put to innovative use; spigit is a platform that provides professionals the ability to showcase new ideas and innovations and in the process build their professional network. Companies and Entrepreneurs can obtain feedback-contributions-ratings from employees, partners and customers. Through the simulations they can build and refine an idea, find the right resources to contribute, create buzz, and calculate a multitude of targeted metrics to provide insight into viability and simulate the likelihood of success.
What happened to the days of stealth start-ups and signing non-disclosure forms? Would entrepreneurs be afraid of getting their ideas poached?
