MyMicroFund.com – Get $500 to $3000 To Fund Your Project
When I was in Hong Kong, I had a chance to meet up with my friend and former Vancouver resident, Alex Pang. Everyone loves meeting Alex because he likes to give away money. Alex’s newest venture is MyMicroFund.com, a site that providing funding for low cost startups. If you have an idea for a business venture and need some money to get started, MyMicroFund.com is a good place get it.
Starting a website can be one of the least expensive ventures in the world. However, there are still many people who can’t afford domain name, web hosting or programming costs. Many people have great ideas but lack the startup money to get that idea off the ground. MyMicroFund.com offers the following advantages:
- Fund your project with a minimum of $500US and up to $3,000US
- All based on goodwill, no legal mumbojumbo, your word is good enough
- Open to anyone, anywhere in the world
- If recipients succeeds then they repay funding as they see fit
- If the venture fails then whatever can be liquidated
The mandate of MyMicroFund.com is to offer funding to ethical grassroots ventures with no strings attached in the hopes that recipients will ‘pay it forward’. For the first stage of this fund, Alex is looking to fund a venture that will generate cash flow quickly. Fund raisers, charity organizations and compassionate ventures are encourage to apply. Those who have money but still want to participate for the novelty factor can apply as well but will have a lower priority.
First Funding Going To A John Chow dot Com Reader
Alex has decided that the first funded project should go to a John Chow dot Com reader. If you have a great idea for a web venture but need a few hundred (or few thousand) to start it, then go and submit your proposal to MyMicroFund.com Make sure you mentaion that John Chow sent you, otherwise your proposal won’t be considered.
Like all business plans, the more information your provide about yourself and your project, the greater the chance you have of getting funding. I think what Alex is doing is a great idea. I may set up a micro venture fund myself.
MyMicroFund.com – Get $500 to $3000 To Fund Your Project
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Very awesome. I actually have something that fits perfectly!
Steven-Sanders’s last blog post: Win $100 & Give The Gift Of Hope
Can you share with us. We wont copy, LOL.
fas’s last blog post: Do You Workout?
This is amazing for anyone with a small idea they want to run with, I’m happy to hear that there are still people out there willing to give others a fair chance.
When I had my “idea” I had to go through lawyers, and constant meetings. After that, i would have to be reporting to the people that wanted to finance this projects..more hassle than help.
Great post and even more, great offering!
Aman@BullsBattleBears’s last blog post: Why you should subscribe:
Thanks John, good post.
I am a skeptic, and am labeling this as a scam. In the real world, it is very difficult to get a micro-grant without a sound business proposal. I have the feeling that MyMicroFund.com will either accept almost no offers, or will charge ridiculous interest rates to get their money’s worth. I’m not buying.
The Net Fool’s last blog post: Taking a One-Week Break… Stay Tuned!
It’s not a scam. I know Alex personally. There will never be any “application fee” or interest for that matter. This is a venture fund. MyMicroFund.com will take an ownership stake. And who said MyMicroFund.com will give you funding without a sound business proposal? It won’t.
What honor system do you have in place to back up the little guy who might divulge too much information only to get it stolen from them?
I’m only asking this for those many people like inventors who bring their ideas to the big boys like a new bra idea to VS only to have it taken from them with no returns.
Tran Harry’s last blog post: Economic News April 10, 2009
Good question. I am not part of the ‘big boys’ network. This blog / fund is not my day job and I’m really just looking for a theme for my blog and rather than to spend the money on advertising, why not lend it to good people with good ideas.
MyMicroFund.com is just a blog about entrepreneurship and business.
If the experiment goes well and people are honest and I have the ability to choose successful ventures then I will increase the fund to a total of $10,000.
Your business idea does not even have to be web or tech idea. If your son needs funds to kick start a fund raiser for a school trip, I will fund it if I am confident you will recuperate my investment.
I suggest you write your idea up, and mail it to yourself. The poor man’s copyright.
It’ll prove in court that the idea was originally yours and stolen.
You can also get an NDA signed. I sent in my proposal already, but there is an electronic NDA that has to be signed (via online signature) before the demo can be viewed.
Steven-Sanders’s last blog post: Win $100 & Give The Gift Of Hope
Actually, I am NOT seeking ownership at all.
John Chow just responded to me claiming that you use the money to take equity… then it made sense to me why you would throw your money around. Now, you are claiming that there is no equity stake requirements?
I guess I’m a bit fuzzy on how this would ever work. You would either be financing us in debt, asking for equity or charging high interest rates on grants… which one is it?
The Net Fool’s last blog post: Taking a One-Week Break… Stay Tuned!
I recall there was a guy who gave a check of 10 000 USD to John for giving visibility to his Twitter project. There was absolutely no need for him to shed that extra 10 000, but shed he did. This kind of money is not unimaginable for many people to just give away.
Jake Stone’s last blog post: That fashionable ROI
I remember that. It’s sad that some people can’t do good deeds without being called a fraud or whatever.
TYCP Entertainment Magazine’s last blog post: Courtney Van Dusen Interview
Can this funds be used also to buy an existent website like the ones in sitepoint.com? I guess there is less risk if we buy an already made online business.
Just shows there are still a few people out there that actually want to help others out. Sure you need a good idea and a plan but without all the bull you’d typically get threw others means.
Michael@TheBloggerSource’s last blog post: Friday Mix – No. 4
This is a great idea.
Of course, many people will be skeptical because “if it sounds too good to be true, then..”
Everyone is used to being taken advantage of and abused. We often forget what it means to be human.
Offering assistance with few conditions was how humanity lived for centuries. If your neighbor needed help building a house, everyone gladly contributed without any immediate expectation of reward.
It is only in the last couple of centuries and the anonymity of large cities that we have lost our way. Perhaps the transparency of the web and the need to maintain positive profiles will bring back an age of sharing.
I don’t need the money, but I would love to apply just to get a connection to Alex Pang. He seems to be a decent person and decent people are hard to find.
John
John Bardos’s last blog post: Guaranteed Success and Happiness
John Bardo, you have come to a right place. 86% of the readers of this blog are decent people. Melody is especially decent (even she is going to go and party in Playboy Mansion – though in her case it doesn’t count) and Aman too.
Here is a thought for the day. Could it be that everybody who present themselves with a personal name, instead of a key word sentence, are decent?
Jake Stone’s last blog post: That fashionable ROI
Aw shucks Jake, thanks…*blush*
You silly–nilly..lol
John’s site, as well as many others have essentially become a platform for us all to come together and combine forces..(to take over the world muahaha)
and make real business happen..
Melody’s last blog post: Winning the AzoogleAds/Playboy T-shirt Design Contest…
Wow, it is really amazing that someone would think that it is a smart thing to do to just give away up to $3,000 without any type of legal documents being signed …. on the other hand it could be an extremely smart thing to do because then they get a constant stream of new ideas that they may or may not be able to poach (I am assuming that most people will not submit an idea with an NDA the smart way as Steven Sanders in the above post did)
Domain Superstar’s last blog post: Ideas for Choosing Domain Names When You Have “Domain Name Block”
The fund is not focused on seeking original ideas. If you can convince me a lemonade stand at the end of your block will be successful then that is good enough to receive funding.
Hmm… summer is coming. Sun and lemonade.
Jake Stone’s last blog post: That fashionable ROI
I actually have an idea for a business that is based on what I used to do–but it’ll take more funding and won’t start for probably another six months at least..
Very interesting idea for a website.. Is he going to have a maximum number of people he’s willing to fund at one given time?
Melody’s last blog post: Winning the AzoogleAds/Playboy T-shirt Design Contest…
Hi Melody, I am interested in hearing your idea. You’ve already proven you have the character by winning the T-shirt design contest!
Alex,
Thank you for your kind words…If you’re available, I actually wouldn’t mind exchanging some emails based on the idea.
However as I mentioned previously, this is not something I’m trying to start tomorrow–which is a concern you posted on your website.
If, for now at least–you wouldn’t mind establishing some sort of mentorship or anything affiliated please feel free to e-mail me (melody@awalkinmyshoes.com)–or I’ll e-mail you–just let me know…
Melody’s last blog post: Winning the AzoogleAds/Playboy T-shirt Design Contest…
kind of like kiva.org
I can not get enough confidence from a site placing google adsense.
John, are you sure he is a venture fund?
Griswold’s last blog post: 从周五免费T恤秀看博客的推广
I highly doubt John would lie about this. Do you realize what kind of backlash he’d get?
TYCP Entertainment Magazine’s last blog post: Courtney Van Dusen Interview
This is a great website for starting your online business but I think people will not like to try it because people are afraid that mymicrofund will claim some of the shares from the website that people create with them.
Wow, this is a great idea. I have a few ideas which could do with this funding so I may submit!
How much is the interest?
Paul U’s last blog post: Clickbank now accepts the Philippines
I have a blog which I want to promote. My plan is to help people earn a living from home using their computers be it programming, video editing, online marketing etc etc. Any comments? By the way Mr John Chow, thank you for all the tips you have on your blog and free ebook. Real eye opener for me. Thanks again.
Great chance for people who have a good project in hand and looking for funds.
I’ve studied micro-funding and know that in developing countries, these loans have been life changing for hundreds of thousands of people. Glad to see you are promoting good causes and have done your homework!
The Almost Millionaire’s last blog post: Is a Pizza Franchise a Good Investment?
Difference between this and other micro loan organizations is the reach. Alex’s reach happens online and via text. Most of the people who cash micro loans can’t read or write not to mention have an internet access. Still, this is a good project. I have to start similar thing.
Jake Stone’s last blog post: That fashionable ROI
It sounds to me like a lot of you are simply making excuses as to why you shouldn’t move forward with any start-up ideas you have in regards to mymicrofund.com.
That’s okay, because not everyone can be successful online, and the more of you who aren’t, the more of us who are willing to move forward, will.
If John Chow knows Alex personally, don’t you think it just might not be a scam. Do you really think he’d ruin his reputation and community that’s been built for that?
Steven-Sanders’s last blog post: Win $100 & Give The Gift Of Hope
That’s often the problem is the money end of the business idea. As long as it’s straight forward like you say that’s a great opportunity for someone.
Michael@TheBloggerSource’s last blog post: Friday Mix – No. 4
I really like your blog. Qualty style and rich content. Very nice. Inspiring.
I lik the eMicroFunding concept too. Always good to reach back and pull the next guy/girl behind you.
There will always be another hill for you to climb too. Hopefully those before you will continue to be as generous as well.
Life will reward you for your forward thinking.
Lee
This is a great and generous idea. Would you fund this for people don’t need the money but want to alleviate some of the risk?
Also, I think that the people who think this is fishy or that he would steal your idea are coming from a mind set of scarcity. Anything online can be copied once its launched.
It’s obviously that Alex comes from a mindset of abundance. The benefit he will receive from these loans is traffic, recognition, media and goodwill.
Yes, it is open to anyone even if they are capable of funding it themselves. Obviously if I receive any proposals for a good cause, it will receive extra points when I rate it.
Alex’s last blog post: Protecting Your Idea
I like this idea… I need money its a recession here
Alex,
This sound a very good idea. I just dont get it how are you going to fund yourself to fund the ideas that didn´t work at all. Are you charging them the whole money even if they lose everything?
Marketing Business Review’s last blog post: The First Day of My Freedom
Like John said, I like to give away money. If the ideas don’t work, recipients are expected to sell and help recover what is available.
I fund myself by giving less to charity this year so that I can be more specific to who I help.
Alex’s last blog post: Protecting Your Idea
That is just amazing. Really nice offer!
Mitja’s last blog post: EA Sports Active Game play Video Workout
I just email this post to a friend in the Philippines. Sometimes you have people with good ideas but no funding, let’s see how this works out for my friend and Alex.
The Apprentice Trader’s last blog post: Forex Trading Is More Than Rolling The Dice
Thats really a great idea and very daring act as well. What can I say …
This will certainly help to those fellows who want to fulfill their dreams. Finance is the back bond of todays business and if you will be able to get them for your ideas and efforts than there will be no one who will stop you.
ZK@WebTrafficROI.com’s last blog post: An Affiliate Network Run By Affiliate Marketers
I think what you’re doing is great. Ignore the naysayers. I actually think I’ll be submitting another idea I had that I know will generate loads of money.
TYCP Entertainment Magazine’s last blog post: Courtney Van Dusen Interview
Amazing John. Thats what I really need though. Great ideas but small wallet.
Microfunds sounds great for just helping people get started online. But it makes me wonder/ if they can’t afford a domain. then how will they ever be able to pay back the money? I guess if it’s just considered goodwill then it don’t really matter.
It’s a Noble Idea! ~ but sounds kinda hard to sustain it.
Bradley’s last blog post: Internet Marketing Quickies 3 for Free
John, you should definitely start one of these, but what funded recipients don’t realize is that everything they start is pretty much OWNED by the investor unless you go 50/50.
Hopefully Alex doesn’t have a contract where he has the right to just take anything. Talk about having a bad ass site/domain just stolen from you at any time O_O
Mike
Hi John,
This is very cool, I’m applying.
I’ll have to check this out. Thanks John for sharing!
Smart Boy Designs’s last blog post: Love Your Blog Topic Like Stephen Hawking Loves Science
Good to see some people are doing well on their blogs at the same time helping others to come up.. nice, btw, i got the e-book too, need to finish reading it by this month end..
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