Innovation doesn’t stop at technology for AngelRevolutions.
The company is also exploring alternative methods for raising money and getting paid.
Founder Barry James is a dedicated advocate of ‘Crowd Funding’ where enthusiasts and ordinary investors contribute small sums towards a new enterprise.
Having set up a fringe event at the MADE Festival he want on to be invited to speak about crowd funding in London and Manchester and has received enquiries about getting involved in similar events from Windsor to Fife.
“We had a massive response at MADE. Far greater than we expected,” says Barry.
“Some of the things that came out, were that crowd funding is a much more efficient model, which gives the entrepreneur more exposure and a much quicker response and that it fundamentally changes the balance of power between the funder and the funded. If you crowd fund you get pre-sales, you get exposure and you are proving that there is a market.
“Traditionally an entrepreneur is at the mercy of the venture capitalists and business angels. With crowd funding, you are doing it on your terms, not the investors. You are dealing with a crowd of small investors rather than a small number of large investors whose job is to make money by renegotiating the funding deal at every possible stage.
“You also save money by not having to give money to the City of London.”
When it comes to making money out of its products, AngelRevolutions uses a number of different models.
It will act as a consultant, licence its software for use by others or use the “freemium” model used by some games software businesses, which provide an app for free, but also offer additional, premium features for a fee.