A software company in Maryland called bytelion is planning on unveiling a new crowdfunding platform by the end of this month. The new platform, called Select 6, is different from every other crowdfunding platform in a couple of key ways.
First off Select 6 is specifically targeting startups and ideas from minorities, women and veterans. These startups are sometimes overlooked by other traditional capital or skipped over on other crowdfunding sites with thousands of projects at a time.
Select 6 will feature 6 startups or ideas at a time. Rather than going to a site like Kickstarter or Indiegogo with thousands and thousands of projects, Select 6 will select six different startups to get funded and after those specific ideas and startups have either reached a time limit or raised their allotted funds, the next six will start the funding process.
Those 6 startups or idea, founders, which Select 6 calls pilots, will also participate in the S6 Startup Accelerator
Crowdfunding is one of the most exciting social innovations to empower creative and socially-minded entrepreneurs in recent years, Select 6 will be the first to channel this medium to provide more resources, exposure to professional mentors, and access to institutionalized funding that many minority, women, and veterans have a hard time finding when they start a business.
Even though minority and women-led ventures statistically perform the same or better year over year when compared to all startups that are angel-funded, a staggeringly low number of angel investors and startup accelerator programs nation-wide have MWV’s in mind or in their programs.
The mission of Select 6 is to help MWV-led startups create success stories in the marketplace and community; To share the education, experience and entertainment that is entrepreneurship & innovation with the public; To create sound investments in promising startups that can scale and expand.
Howard Cheng, founder and Chief Entrepreneur of Select 6, is emphatic about one thing: “We want to help MWV entrepreneurs and innovators find their wings and take flight with the help of diverse communities because we believe in their potential and tenacity. Entrepreneurship and innovation are key engines of economic and community growth, and Select 6 is our solution to addressing a national concern of creating value and jobs in the marketplace.”
Bytelion’s CEO, Terrance McGregor shares: “We are excited to work with Select 6 to develop such a meaningful platform for MWVs. We will continue to serve as a resource for Select 6 and S6 Pilots to get lean in their web development and startup approach. Staying lean and agile is the only way to go for SMEs because we can’t anticipate and predict everything, but we help clients get from idea to product faster with daily incremental improvements and updates that they can track and control. Time after time, we see that going lean speeds up the development process and keeps costs under control.”