“I was thrilled to see that entrepreneurship is thriving at Princeton, and the caliber of projects entered into AlumniFunder's contest," said Tom Frangione, COO, Greylock Partners and Princeton alumnus who donated his time to help judge the contest.
Los Angeles (PRWEB) April 04, 2013
AlumniFunder, a crowdfunding platform that gives alumni a way to invest in innovative projects created by students and other alumni at their alma mater, today announced the results of its first, inaugural $1,000 beta launch contest with Orchive taking the top prize at Princeton University and HoyaChallenge winning at Georgetown University.
AlumniFunder assembled a panel of high-profile alumni at each university to judge the 23 projects that were posted to the site seeking more than $400,000 to jumpstart their endeavors.
“I was thrilled to see that entrepreneurship is thriving at Princeton, and the caliber of projects entered into AlumniFunder's contest reveals much about the ambitions of students and other alumni to innovate while also bettering the world,” said Tom Frangione, COO, Greylock Partners and Princeton alumnus who donated his time to help judge the contest.
Next up, AlumniFunder is set to launch the platform through contests on more campuses, beginning on April 9th at U.C. Berkeley, Stanford on April 18th and USC on April 30th, with more schools to be added in the near future.
“We aim to be a true marketplace for ideas, using crowdfunding as a tool to change the dynamics of university education and alumni relationships, creating untold opportunities for experiential learning,” said AlumniFunder CEO S. Ryan Meyer. “Students and graduates can capitalize on their university networks and connect with alumni looking to fund disruptive projects.”
Rather than working directly with the university administration, AlumniFunder partnered with student run entrepreneurship clubs and alumni alliances to publicize the two launch contests.
This summer, the platform will expand to offer an equity crowdfunding function, which will allow qualified alumni to invest directly in startups and technology transfer initiatives coming out of their university ecosystems.
AlumniFunder facilitates the connection between funders and doers for startups and specific projects (e.g., social entrepreneurship, campus impact, design, research) within university alumni ecosystems. The platform is a true marketplace for ideas, one that enables youthfully minded doers to seek biased capital from their alumni crowd. The company seeks to enrich the experiential education of students as well as the reach of alumni to execute on innovative projects.