UpdatedRaiseCapital is a new Web site that lets entrepreneurs submit their business plan and capital needs, in hopes of drawing attention from a VC.
Based in Port Washington, New York, the company allows both start-ups and existing business to submit pitches.
For $29/month, an entrepreneur can post a text description. For $39/month, they can also post pictures. For $49/month, you can include video.
Right now, there are few good-looking prospects. There are only two internet companies, one of them an “experience gift company,” boasting a $250 billion market (it is also featured on the front page), which is questionable.
This may be kind of like a dating site. Many folks have too much pride to join, fearing such sites are mainly for losers. If a VC can’t find a good start-up without having to go to a public meat-market to find it, that doesn’t speak too well of his or her sourcing skills. If a start-up can’t find a respected investor through their own dogged efforts or advisors, that may also saying something about the start-up. There are exceptions of course, but they are exceptions to the rule.
We welcome any feedback you may have on this idea.
Update: Chief executive Richard Singer just in touch, and wanted to clarify that this is not just for targeting VCs. It is for any business, from those searching for their first dollar to those simply seeking patent advice. Singer said he has invested “six figures” into the business.