JIS Group an educational conglomerate in India on Thursday announced ‘JIS Idea-O-Meter’, an online funding platform where creators can share and gather interest on a particular project they would like to launch.
It is entirely driven by crowdfunding and will be available to more than 37000 current JIS students along with its teachers, staffs and millions of JIS alumni members who have been a part of the group for last 20 years. After teaming up with at least one JIS community member any individual can submit projects at ‘JIS Idea-O-Meter’.
The main objective of ‘JIS Idea-O-Meter’ is to find the next generation entrepreneur within the larger JIS community. Anyone associated with this larger JIS community would be able to put up their innovative projects online along with their funding goal. There will be various categories under which projects can be submitted. Categories would range between Robotics, Film, Music, Books, Social Responsibility, Franchise idea and others. Like other crowdfunding platforms, the most innovative and cost-effective idea would draw the attention of the larger community members to receive requisite funding to make it a reality.
Mr Taranjit Singh, Managing Director at JIS Group said, “This endeavour which aims to boost the economy, will provide a host of opportunities to aspirants and help them become entrepreneurs from creators. JIS Idea-O-Meter will help promote the ideas that are unique by bridging the angel investing gap.”
“We will be promoting the active participation of the community for ideas to be discussed, shared and funded on the platform. We are excited to be able to assist and guide our members in making their dreams a reality,” he added.
A panel from JIS management would oversee all the submitted projects to check its eligibility. The panellists would ensure that submitted projects are not illegal or illegitimate. Though the panellists would not judge the idea or the feasibility of the projects. The idea would be democratically judged by the JIS community at large, based on the amount people donate.
After submitting the project, the creator would have to wait for gaining support from the JIS community. The URLs for the submission projects preview page can be shared with the creator’s trusted peers so that they can offer feedback on the submission after launch. JIS Idea-O-Meter urges the creators to embrace new strategies to promote themselves on social media and campaign more actively for their submission which will help reach their funding goal. After putting their projects online, the members will have to convince the community at large to invest in their idea. They will receive the raise amount if they can reach their funding goal.
