Cash bonus on offer for enterprising city students
STUDENTS will get the chance to earn up to £2,000 by taking part in a scheme to help start-up businesses.
To mark Freshers Week, the South West-based crowd-funding website peoplefund.it has launched an innovative initiative for Plymouth University students to earn cash and support enterprise.
The website, in partnership with the university, wants students to find new business projects for the site and help them fund-raise in return for a share of the revenue once they've hit target.
Peoplefund.it was launched by KEO digital, makers of TV's River Cottage, Hugh's Fish Fight and the associated energyshare eco-scheme, and encourages people to back business ideas.
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Peoplefund.it is involved in crowdfunding, where individuals network and pool financial resources, usually via the internet, to support a business venture, for example.
The website has already been involved in one of the most successful initiatives in the history of UK crowdfunding – raising £40,000 in just six days for a new cycling business, The Bicycle Academy, in Somerset.
Now the website wants Plymouth University students to encourage city entrepreneurs to add their projects to the website and promote their success in return for a fixed percentage of the funding target.
For a limited period of three months, once a project's funding target has been reached, peoplefund.it will pay five per cent of the revenue raised to the Plymouth student who brought the project to peoplefund.it and helped it hit its target.
With projects raising up to £40,000, this scheme has the potential to be lucrative for students, the university said.
If a £40,000 project hits its funding targets, the student will pocket £2,000.
Professor Wendy Purcell, Plymouth University's vice-chancellor, said: "We look for every opportunity to support our students in developing their entrepreneurial mindset.
"This is initiative is a fantastic example that helps us do this and we are delighted to support it.
"This initiative offers students the opportunity to support new social enterprises in the region and earn money for their efforts along the way."
Nick Underhill, managing director of KEO digital, said: "We are delighted to offer this innovative way for students to earn cash. We look forward to seeing some great projects and making our first payout."
Peoplefund.it is rolling its idea out across the UK within six months, but is giving Plymouth University students the chance to take full advantage before anyone else. To be eligible, Plymouth University students must register a project on the site before the end of November.