Crowdfunding Platform Gives Young Talent a Career Boost

December 24, 2012 By IdeaConnection

Crowdfunding careersWith an overcrowded, over qualified job market, college leavers don’t have it easy when it comes to embarking on their chosen careers. Underemployment, unemployment and a mountain of student debt are just some of the hurdles they have to face.

However, the cavalry has appeared to offer a helping hand in the form of Pave, a New York-based start-up that takes a crowd-based approach to helping young adults achieve their potential.

The online platform matches college leavers (known as prospects) with backers who will help them to get a foot in the door of their target professions so they don’t have to take on jobs they don’t want to.

Win-Win

Both parties get something out of the initiative. For the prospects, the chance to pursue the career of their dreams. For backers, the rewards are financial as they receive a percentage of a prospect’s earnings for an agreed period of time.

If a prospect does not make any money during the contractual period, nothing is owed to the backers. For example, this could happen if a budding filmmaker, artist or musician earns no income from a long-term project or their work flops.

Pave was the brainchild of its CEO and founder, Sal Lahoud. He said he came up with the idea when a friend asked to borrow some money. Instead of entering into a loan agreement he suggested that his friend pay him a portion of his earnings. When he agreed the Pave founder realized that this could work as a business model.

Pave also provides the opportunity for prospects to be mentored by their backers.


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