TechCrunch50 presenter Sprowwt is taking the online micro-loan concept and bringing it to startups. Much like Younoodle (or IPitch even) startups can create a profile explaining their concept, desired funding and even upload a business plan and prospective investors can browse through the startups and directly buy shares right on the site and print up a certificate of their ownership. Although the judging panel, which included Tim O’Reilly of O’Reilly Media and Google exec Brad Horowitz, was doubtful on some of the legality of the site, Sprowwt seemingly offered a workable way for young businesses to get funding. Since they just launched at TechCrunch50 it’s still unknown whether the site can actually provide returns for investors or whether the types of companies that seek funding this way will be able to make exits. I asked one of the Sprowwt founders whether this site was set up to legally operate in Australia and found out that although they did work with an Australian company called G Tech for a while to make it available in the Australian market, it did not end up working out.
But day two of TC50 did reveal even more Australians. Kevin Garber of Spellr.us returned to the event after presenting in the Demo Pit last year. Besides filling me in on Burning Man (apparently it’s far more than naked people on drugs in the desert), he explained some of the elements he’s sees missing from the Australian startup scene, among them are heroes for Australian entrepreneurs to aspire to and perhaps even a sense of celebrity and gossip surrounding the startup scene (Did somebody say Aussiewag? I already learned this week there’s a Lalawag).
I also pinned down Mick from Pollenizer for a bit of an interview. Although Pollenizer is based in Australia, they really are international venture, with their focus turned to Europe at present, and clients from San Francisco to Sydney. Mick is well connected in the TechCrunch scene after fair amount of coverage from the blog and even a bit of work with them with his business Tangler. You can see Mick’s interview of Sydney-based early stage funding group Green Lane Digital and IPitch on Mick’s Vimeo, and see IPitch’s interview with him here.
