The Unreasonable Institute, a non-profit and incubator for social entrepreneurs based in Boulder, CO, partnered with Launcht to power their crowdfunding marketplace for this summer’s fellows. Every year, the Unreasonable Institute invites 25 entrepreneurs to a 6 week training program that helps them connect with big-name mentors, financing, and each other to build their nascent ventures into big successes. This year, 227 companies from 47 countries applied to the Unreasonable Institute; they selected 14 ventures to attend this summer’s program after three months and three rounds of vetting.
For these elite ventures, the program is a dream come true. For many startups, extra funds do not come easily to attend top tier accelerators. This year, the Unreasonable Institute has partnered with Launcht to power their crowdfunding platform, which allows each venture to raise their tuition and share their project with the masses. It works not only because it allows them to raise the capital they need to attend the program, but also drives attention to the work they do and the innovations they have created. In this way, people feel that they are funding both people and projects–helping new leaders get the education they need to be as effective as possible and in that way helping the projects themselves get off the ground.
Crowdfunding tuition is a new use for crowdfunding, and an adaptation on the traditional model, and it is a use that we hope spreads more broadly in the near future. Given the more than $160,000 raised on the platform in 30 days, clearly the model has merit. To see the ventures, click here.