FundUni

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FundUni

Grand Falls-Windsor, Canada
Organization type: 
for profit
Project Stage:
Start-Up
Budget: 
$50,000 - $100,000
Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

FundUni is a web-based software platform designed to create a free market connection between those who require and those who provide capital (crowdfunding). The firm plans to dramatically reduce the national level of student debt by revolutionizing the way students fund
their education.

Through the FundUni platform, students can directly appeal to family, friends, employers, community leaders, and engaged community members to help fund their tuition. Likewise, prospective sponsors that would have otherwise gone unnoticed now have a window through which they can fund the next generation of leaders.

Current or prospective students post a ‘video essay’ outlining why they need funding, what their education will mean to them, and how their education will benefit the community. The more creative, engaging, or persuasive the video essay — the better! The student then uses the platform to tap into funding by marketing his or her campaign through social channels.

We are an open market where anyone can create his or her own pitch for tuition and where anyone can fund it.

About Project

Problem: What problem is this project trying to address?

Remember when you were just graduating high school? How did you get the money for university or college? Parents, Odd-Jobs, Scholarships and anything in between right? No one has really innovated on how people make money to pay for their education, have they? Isn't this a bit backwards? In our world and even more in North America, everyone should be able to have an education to pursue what they want to do in life.

Solution: What is the proposed solution? Please be specific!

We've created a platform based on Crowd Sourcing students educations funds. Students who have applied or are in University/College will trade their expertise (music, tech, labour) in exchange for the community to come together and buy these "rewards". We believe that students across the Country and eventually in the United States will be able to trade what they've learnt and the free hours of their days to allow them to pursue what they want. It's a new way of doing things, but with such success with companies like kickstarter.com, we believe it will be successful.
Impact: How does it Work

Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.

Your 18 years old, you graduated in a small rural area and have an 81% graduating grade. If you received a scholarship it was for a few thousand dollars and it won't go far. You come from a family that is middle class, but you have 2 siblings - it just doesn't make sense that your family can pay for your education. A student since she's been in grade 3 has learnt how to play piano and is a great singer. She doesn't want to do that with her life, but rather would like to help kids in her community and become a social worker. In the span of the next 4 years she'll need at least $30,000.00 to get through university. After finding FundUni she creates a quick two minute video with help of her cousin, she creates an account, creates rewards of what she'll give for money.. $25 - A personally signed thank-you card $100 - Two free virtual piano lessons $250 - 10 virtual piano lessons $1,000 - She's preform for one hour to your private group Over the next 60 days she promotes to her family, friends and FundUni promotes her across our network to our community. At the end of 60 days she didn't reach her goal but did sell $21,000 of her rewards. She pays a small 15% fee and we release those funds to the institution of her choice. She now no longer needs to worry where the money will come from because it's already paid and she can start concentrating on what matters - becoming a leader in our community.
Sustainability

Marketplace: Who else is addressing the problem outlined here? How does the proposed project differ from these approaches?

Crowd Funding has become increasingly popular in the past 3-5 years, Kick Starter, Indiegogo and many other have popped up. Some are specific to creativity, business and even sports. Education hasn't happened yet. We want to grapple the fact that people want people to succeed in our world and are ready to trade their money for something they believe is worth while (and normally great value).
randomness