Digital Jersey has unveiled the island's first crowdfunding platform – Springboard.je.
Launched with a Dragon’s Den-style pitching event on Tuesday, the Springboard initiative has been developed by Digital Jersey and is supported by Jersey Business, Jersey Chamber of Commerce, the Institute of Directors, Infinite Lightbulb, Envestors and the Digital Leadership programme.
It marks the first time start-ups will be able to access crowdfunding in Jersey. It will also provide a route to larger equity funding from experienced investors.
Local start-ups can now offer rewards to individuals who like their idea and want to invest, in much the same way as Indiegogo or Kickstarter. The platform will be accessible online for those who need to raise up to £50,000.
Start-ups looking for larger amounts will be able to pitch their ideas to a database of more experienced investors in return for equity shares.
Digital Jersey CEO Tony Moretta (pictured) commented: "Local entrepreneurs have struggled to find funding routes for their start-ups, which has stifled innovation. If you wanted to raise a few thousand pounds to around £100,000, your only options were to fund it yourself or go to family or friends.
"This [initiative] puts Jersey entrepreneurs back on a level-playing field with those in the UK and elsewhere, who have had this facility for many years."
• To register as a crowdfunding investor or to raise funding for a start-up, go to springboard.je