|Logan: "Entrepreneurs can do more than offer rewards to backers."|
PLANTSVILLE: Two Connecticut entrepreneurs are taking on the crowd funding and crowdsorcing “space” with a new company Umergence, at umergence.com.
CEO and co-founder David Logan previously served as director of technology at the University of Connecticut, and CFO and co-founder, Jeff Ciarcia was an international trader and portfolio manager at First New York Securities.
The company has just finished its alpha testing, and says it is a one-stop-shop where aspiring entrepreneurs can test, grow, fund and ultimately build their ideas.”
"With Umergence, entrepreneurs can do more than offer rewards to backers," Logan said, adding, "they can test out their initial ideas, raise real capital and hire and manage skilled collaborators."
Umergence founders understand the need that entrepreneurs have, Logan told us, “we are self-funded, bootstrapped.” Logan and Ciarcia tapped their retirement accounts and personal savings to fund their enterprise. Logan added, “We are all in!! All the chips are in and now we are playing the hand. Really excited to start helping entrepreneurs build their dreams!”
The duo is working to forge a partnership with Connecticut Innovations to help Connecticut startups raise funds.
The fees range from 3-5% for capital raises and th company says the “platform that crowdsources the whole entrepreneurial process, starting with the ideation behind new ventures.”
From there, says Logan, Umergence continues to support growth. "As members clarify their vision and build community, they can open doors to financial support and even find the talent to build their business. This harnesses the power and wisdom of the crowd."
Umergence, is a broker/dealer member of the Financial Industry Regulatory Authority (FINRA), is uniquely positioned to help entrepreneurs raise capital from supporters as true partners. Entrepreneurs can create custom offerings, tailored to their business needs and development stage, from prefunding prototypes to IPOs and ICOs (initial coin offerings).
"We wanted to provide a flexibility and scale that just isn't there in other crowdfunding platforms," says Ciarcia, adding, "entrepreneurs with killer ideas don't have to move off-platform to thrive and scale. We're supporting their growth through the long haul."
Umergence also provides entrepreneurs access to human resources. With a full services marketplace and job listings, startups and accelerators can find talent in the crowd and manage it from their own dashboards.
The company’s material says “the platform is modeled after the self-organizing productivity of the modern co-working space. With dynamic menus, users can view interest-based community feeds while simultaneously guiding their own projects. https://umergence.com/how-it-works