Finalist DreamBank Launches Web App for Funding Positive Change
Current New Ventures BC finalist DreamBank has had their web app in beta for just a short time, but today has sent out the emails announcing they are launching. Their tagline is “Give dreams, not gifts”, suggesting that contributing funds for peoples’ dreams is preferable to gift giving. DreamBank allows users to create a “dream” and they’ll handle accepting money for it. Dream progress is tracked on their site, with donors credited. The site uses PayPal for funds transfer, but have arranged their own fee structure. Cashing in your “dream” is subject to a 2.5% fee.
To promote their launch, DreamBank has done some social media outreach to local bloggers, giving $20 “dream certificates” to Miss604 Rebecca Bollwitt and Beth Snow, among others. Further, they are holding a “Win Your Dream” contest to fulfill 5 dreams of $1500, randomly selected from the first 5000 dreams submitted. There are still a ways from 5000 dreams on the site, so there’s still time to get yours on. Perhaps your dream is “fund my company”?
Congratulations DreamBank and good luck on your launch.
July 24th, 2008 at 12:15 pm
[...] recently found out that DreamBank was chosen as a finalist in the New Ventures BC competition, and I was really happy to hear this, as the business model of DreamBank is an interesting one. I [...]
July 24th, 2008 at 4:49 pm
Thanks for the great write up guys! We are excited and looking forward to the rest of the contest and of course to every day at DreamBank. Pre-launch starts to feel like it would go on forever, as I’m sure any start up team can attest… It’s so rewarding to have the site live and pretty interesting to see who/what shows up for Dreams and Dreamers! Who knew?
I also really appreciated the post from “Student of the Environment” both here and the actual blog post was. It was great to get a notice for our business mode. It’s an important part of DreamBank.
One of our corporate objectives is ” To be an example of a company that can generate substantial revenue and profits for the company and it’s investors, and also generate a lot of money for society and the environment”.(both at the same time).
We think it’s achievable with our model, but only time(and maybe the judges!)will tell. For now, we’re enjoying being live and the other benefits(mentoring,events, etc)of being a part of New Ventures too( including getting blogged about, so thanks:)