The seed companies that make the web a better place, from Facebook to Google, are a great place to start, but if you’re looking for a new source of cash, look no further.
But with seed money increasingly hard to come by, many are now offering to put their names to an ICO.
This week, the founders of two of these firms, Seedcamp and The Seed Fund, announced a partnership.
The new partnership is part of a wider movement to address the challenges faced by startups and raise funding, both within the industry and among those who are making the technology their livelihood.
“The biggest issue in the seed space right now is the lack of transparency, so we’ve decided to form a partnership with two of the most prominent seed companies in the industry, SeedCamp and The Foundation,” says Scott Houser, co-founder of Seedcamp.
“They are the leading seed funding platforms, and they have the resources and the experience to do this for us.”
The companies have agreed to pay The Seed Funds $500,000 in cash, and will also create a fund for the company to invest in startups with their name attached.
The Seed Foundation is also funding the new fund, and it is working with Seedcamp on the project.
Seedcamp CEO Chris Anderson says he hopes the funding will help grow the startup.
“We are very excited about the partnership and how this partnership will help us make the most of the platform,” he says.
The seed capital is set to be raised through a new crowdfunding platform, called the Seed Capital Fund. “
In our own words, we’re building a new world, and we’re going to be the world’s seed capital.”
The seed capital is set to be raised through a new crowdfunding platform, called the Seed Capital Fund.
Housers co-founded Seedcamp with his partner, Justin Bailenson, in 2015.
“There’s nothing like the feeling of a startup being backed by a billion dollars,” says Bailens’ co-CEO.
“When I look at the seed funding landscape today, there’s only a handful of startups that have raised money like SeedCamp, Seed Fund and The Fund.
To be part of the new partnership, SeedFund will need to be active for a year, or until June 30, 2020, whichever comes first. “
This is not just about funding, this is about building a startup community around a technology that could become the next big thing.”
To be part of the new partnership, SeedFund will need to be active for a year, or until June 30, 2020, whichever comes first.
That will be enough time for SeedCamp to get to know the partners and determine the best approach to their startup, says Anderson.
“A lot of the seed companies don’t really want to be part the ecosystem until they have a real understanding of what they want to achieve,” he adds.
“Once we have a great seed plan and a great team, we’ll be able to take it to the next level.”
Seedcamp has raised $100 million in seed capital and more than 20,000 users, mostly small businesses, from the likes of Google, Facebook, Dropbox, Airbnb, and Yahoo.
The founders hope to get as much as $1 billion in seed funding by the end of the year.
In the meantime, the startup has also partnered with the tech giants Facebook and Google, and launched an app for mobile devices.
In an interview with the Financial Post, Bailors said that this was the “next big thing” for the startup, and that it was not going to “stay the same”.
“The idea is to build a community around the seed platform and start up your own company with a product that people are interested in,” he said.
“People can actually build a business on top of it, but they have to be able have a stake in it, and you can’t just be in the cloud, you can only have an active stake.”
Housing says he would love to see Seedcamp succeed.
“If we could get as many people as possible on board, we’d love to get a billion-dollar seed fund and build the most amazing app for phones,” he added.
“That would be awesome.
It’d be like, this could be the most incredible app that you could build for your smartphone.”