In 2017 more than 90% of startups will fail due to entirely solvable issues (Forbes). Of
founders who faced failure, a massive 42% attributed it to a lack of market need for
the product, while a staggering 29% of startups fail due to a lack of capital (Fortune).
C-level execs agreed that their companies were bad at identifying problems, most
notably in their products, often due to a lack of outside perspective (HBR).
Plenty of these companies have a great idea, capable team, and even a solid
company structure. What’s often missing is the ability to build an audience —
something often critical for many modern products to function properly.
There is a severe disconnection between companies — small or large — and the
public. Whether it’s to validate a new product, or iterate on an existing one. There is
enormous untapped potential, which with the right tools, can be leveraged to benefit
People around the world are willing to validate products, solve problems, and voice
their opinions. This great potential simply needs facilitating, and Crowdholding is
designed to do exactly that, encouraging a new wave of co-creation.
Since July 2016, the Crowdholding team has worked hard to build the perfect
co-creation platform, attracting hundreds of dedicated participants, and dozens of
interesting startups looking to make use of the wisdom of the crowd.
Crowdholding enables the public, or ‘the crowd’, to help validate, iterate on, or
build awareness for products or services. In return, the product or service owner
rewards the crowd for their activity, building a mutually beneficial scenario where
businesses and the public are brought closer together, aligning goals rather than
merely exploiting one another.
This reward process is facilitated by the Crowdholding YUP token, and other
ERC-20 compatible tokens (including Ether itself) — allowing value to be efficiently
transferred between parties in a decentralized manner.
As Eric Schmidt says, the next hundred-billion-dollar companies will be those
who can effectively learn from the crowd. There’s a new dawn in co-creation coming,
and Crowdholding is positioned to make it impact society as much as possible.