This is the integral BizKit-Tin Core Innovation Fund set up by u-Reka Club, with the goal of creating a new Independent Funding Source that creative talent can apply to for funding support when they fall outside of the criteria for more conventional support alternatives.
WHAT MAKES BIZKIT-TIN UNIQUE IN THE CROWDFUNDING WORLD?
‘BizKit-Tin’ is a Crowdfunding Platform with a difference! It has its own integral ‘Core Fund’ that aims to grow into a fully independent new funding source for Lone Inventors, Creative Talent, and Entrepreneurs, in the absence of any real practical alternatives. Its primary purpose and priority is to help Inventors to escape or avoid a crippling ‘Catch 22’ that sends so many into the abyss, a ‘Catch 22’ that prevents them from qualifying for any funding support from the more conventional sources currently available like Banks and Investors, when they need to transition from prototypes to the full production-quality products demanded by Buyers when they attempt to launch into the marketplace, by helping to finance the acquisition of their initial tooling and pilot production stock, thereby allowing them to do so in a more timely fashion.
THE ‘CATCH22’ EXPLAINED
Since the economic collapse of 2008 even private equity investors now follow the banks in refusing to lend until a project can show actual orders for its products (Proof of Income). Buyers however CANNOT order off prototypes and so demand sight of actual production samples before being able to place any orders (Proof of Quality).
This creates the proverbial ‘Catch 22’ scenario because a project needs the funds <> to make the tooling – to get the production quality samples the buyer demands – to place the orders the bank demands – before providing the funds (Go back to <>). As you can see, once a project falls into this trap there is NO way out! A project simply dies! This is where BizKit-Tin aims to step in and help.
With conventional Crowdfunding a donation into a project is normally a one-time donation, and if the project takes off it only benefits that one specific project. Alternatively a project may bring in external investors in exchange for equity and if successful it is only those investors that reap the rewards.
Projects supported by BizKit-Tin can also receive their funds from the Core Fund in exchange for an equity share just like an Investor, but as the funds in the ‘Core Fund’ initially came from your donations, any future pay-outs should also then go back into the ‘Core Fund’ to help it grow further, essentially recycling your donation over and over into multiple projects! And the more projects it can support, the more the Core Fund can grow and so the more projects it can go on to help over time. And so the cycle continues. The Core Fund also receives a small commission from every transaction going through u-Reka Club too, so this helps to top up and build this new funding source. So, you can help to grow this new
fund just by shopping here in u-Reka Club, as well as make donations, and Pre-Orders to direct project and make donations directly into the Core Fund itself too!
Click here to go and sign our Petition to the Government to provide Lone Inventors with a life-line, to help them get through this pandemic too. Help us to achieve 100,000 signatures, as this then requires Government to discuss and address our needs in Parliament.
The best thing you can do beyond making your own donation here, is to help spread the word via your own Social Media and other outlets, and linking people back here, as time is of the essence for many of those this campaign is intended to help!