Editor’s note: This article was first published in March 2011, when Volanda.com was just launching. The platform, its project listings and the typical amounts sought (1,500-15,000 euros) may no longer exist or apply.
We’re coming back to how hard it is to get funding for a business project, although we already covered some places you can turn to for funding for your online business idea. This time we’re looking at a new platform that tries to bring investors and entrepreneurs together. It’s called Volanda.com.
The idea behind Volanda is genuinely innovative, although since it is just getting started it may still have some gaps. The aim is for several investors to be able to take part in funding a business idea. What isn’t clear to me, though, is how the return on investment will work or what the investor actually gains, since the site talks about a reward for the investor.
Even so, it could be very useful for entrepreneurs.
The process is simple. You sign up and present your project, and a number of “fans” (investors) gradually join in, each putting in a small amount. While it may be hard to get a bank to lend you €10,000 to start your business, it may be easier to get 100 small investors to put in €100 each. If the “reward” convinces the investor… you won’t have any problem.
Obviously, the platform needs to become better known so that more projects are listed and it becomes more attractive to those small investors, or to people who want to take part in projects by contributing part of the capital needed.
Right now, if you visit the Volanda website you can see the projects waiting for funding. They usually seek around €1,500–15,000 and are extremely varied, from funding to shoot a documentary or a short film to a scientific study or a shop.
All the same, congratulations to the people behind Volanda, because initiatives like this are exactly what Spain needs to encourage business growth and the development of entrepreneurship.
Further reading
- How to start a business with no money
- Where to find funding for an online business idea
- The advantages of starting a business during a crisis
- Profitable business ideas
- How to attract your first customers
Featured image: Rocío Lara, CC BY-SA 2.0, via Flickr.
