A new competition for technology start-ups is using a novel method of raising its prize fund: by asking the general public to support it. Aimed at companies from the US, UK and Ireland, Crowdfund 1 Million asks companies to out across their networks to raise a $1 million prize fund will be raised. The overall winner will walk away with $500,000.
The competition was launched at the SxSW Interactive festival taking place in Austin Texas this week.
Seedups founder Michael Faulkner said: "This is a great opportunity to prove the power of the crowd. We believe that Crowdfund 1 Million will showcase some great start-ups and highlight how important crowdfunding can be to raising finance and launching new businesses."
For more information visit www.seedups.com.
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