First year goal is to fund 1,000 startups, Crowdfunding to begin December 2nd.
Nap Time Startups, a crowdfunding website for mom and women entrepreneurs exclusively, today announced the beta launch of NapTimeStartups.com, a crowdfunding site raising funds for mom and women entrepreneurs, exclusively.
Crowdfunding is scheduled to begin on December 2nd with a first year goal of funding 1,000 startups. As part of the beta launch, pre-registration is currently open to entrepreneurs, donors, investors and business service support affiliates.
As reported within a Kauffman Foundation study, A Rising Tide, the growth of woman startup is lagging behind their male counterparts. According to Alicia Robb, principal investigator, for every $100 of investment capital committed, women entrepreneurs receive only $5. The reason Robb notes is twofold: men start with more money, enabling easier debt financing, and the old-boys investment community has few women members.
Nap Time Startups differs from main stream crowdfunding sites such as Kickstarter and Indiegogo in two fundamental areas. First, the site is dedicated exclusively to mom and women entrepreneurs and secondly, the company is organized to coach entrepreneurs through the process of designing and managing a successful crowdfunding marketing campaign.
As noted by Catherine Snowman, Nap Time Startups’ Crowdfunding Coach (and a mom),
“We want to empower women, especially stay at home moms, to act upon their product ideas. We traditionally purchase over 85% of all household products, plus we now dominate social networking and consumer technology usage. Most of us have generated ideas for new products or how to improve existing ones. At Nap Time Startups, we provide the funding and support for commercializing those innovative product and service ideas.”
Nap Time Startups’ crowdfunding programs will be based initially on the current industry donation model and expanded in 2014 into equity investment. A donation model enables individuals to contribute funds normally in the $1 to $1,000 range and receive matching rewards. The investment model, which was enabled by the Jobs Act of 2012 and is awaiting Security and Exchange Commission guidelines, will enable direct equity investment from accredited investors. Under the donor model, Nap Time Startups anticipates startup funding will range from $50,000 to $300,000 and under the investment model a maximum funding of $1,000,000.
Nap Time Startups co-founders are four entrepreneurs from the Tampa Bay Area. They are Catherine Snowman, Crowdfunding Coach; Jenivieve Elly, Marketing Coach, Matthew Solan, Communication Coach; and John Montelione, Business Coach. Within their immediate families, mom entrepreneurs have launched eight startups, including Matthew’s mother, Ruth, who opened Duffy’s Tavern, one of Florida’s infamous biker bars.