500 Startups, a seed fund and startup accelerator in California, announced today that it is launching another $250,000 fund for micro-investments in startups using the CrowdFlower cloud-computing and on-demand labor architecture.
CrowdFlower takes a slightly unique spin on cloud computing by offering an outsourced workforce in addition to the traditional computing power. The on-demand labor service provides businesses with a pay-as-you-go labor force that will, in theory, do all the things a human being does best.
The new seed fund allows 10 startups using the CrowdFlower architecture to acquire up to $10,000 in funding in exchange for a one percent equity stake. A few of them will also receive $50,000 and be entered into another startup accelerator program in Mountain View, Calif. — though there aren’t any details on that program just yet.
The announcement comes a little more than a week after 500 Startups announced a similar $250,000 micro-investment fund for startups using the Twilio voice and text-messaging APIs.
Application submissions for the CrowdFlower fund opened today, and 500 Startups is accepting them on a rolling basis. 500 Startups currently hosts a number of startups like Tello, a customer service rating app that strutted its stuff at TechCrunch Disrupt last week, and online teaching platform Udemy.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform
- networking features, and more