October 15, 2014

Guest blog post: Global ideas need a global investment solution

Arno Smit

Co-founder & Chief Technology Officer, FundedByMe

This is the third blog post to our blog challenge "How does your company balance between running your basic IT infrastructure, development, and adaptation of new technologies? What sort of choices do you have to make?". It is written by Arno Smit, Co-founder and CTO of FundedByMe.

Up until a few years ago, an entrepreneur would start their journey by moving to a big city, assembling a team, tackling a problem, building a solution, and maybe getting admitted to an incubator or accelerator program. At the end of this program, they’ll usually have a demo day where they only have 10 minutes to present their company to investors to raise some seed funding. And this is a best case scenario.

The game has changed. With startup costs lower than ever, online education available at your fingertips, and remote teams available to assemble, entrepreneurs can register a business, and start deploying their ideas to the cloud with push of a button within a matter of days – or even hours.

Finance is the one industry that has been lagging behind up until a few years ago, and is the way that these ideas get funded. With crowdfunding, not only are people being connected on a global scale, but previously successful entrepreneurs and investors get to share their knowledge and excitement of what it’s like to go through that rollercoaster journey all over again. FundedByMe pushes the envelope by bringing these two parties together.

As a young company, we always have to weigh the impact that technology has on our organization. We must ask: Are we building this feature because it’s a fun, exciting feature to have, or is this something that the market is craving and will eventually help us reach our milestones and business goals?

It’s one thing to keep up with new technologies and another to keep up with the tasks at hand. This is one of the reasons why we do infrastructure updates during the slower summer months and focus on the busy tasks during the peak months.

We encourage our developers to attend hackathons where they tend to experiment with the latest technologies that can be used as a springboard discussion for certain parts of the product.

As part of our infrastructure, we spend the bulk of our time building, improving and testing our product during the busy season, whilst focusing on upgrading technology during the slower summer months.

FundedByMe is the fastest-growing crowd financing platform, connecting investors and entrepreneurs – be it through reward-based crowdfunding or with equity offers. Founded in April 2011 in Sweden, FundedByMe today operates with additional offices in Finland, Denmark, Norway, Spain, Italy, Germany and Singapore. www.fundedbyme.comArno Smit, Co-founder and CTO of FundedByMe. You can find him on Twitter and LinkedIn

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