Join our Waitlist for Expert Advice!

At SXSW, A Startup for Startups For small businesses, landing funding has rarely been more difficult. Here's how one company is aiming to make it easier.

By Bryan Keplesky

Opinions expressed by Entrepreneur contributors are their own.

When faced with a person handing out flyers, many people tend to smile vaguely and just continue walking. This week at SXSW, however, is the time to suppress that inclination. In fact, during Interactive, a good rule of thumb is to take every flyer or card that comes your way because there's so much creative marketing happening, you just don't know what you'll get.

SeedUps is an excellent case in point. While exiting a panel, I nabbed a flyer with the title, "Got a Tech Start-up...Need Funding?" After reading more about the company, which basically applies the crowdfunding model to startups, my interest was piqued. I was able to meet with SeedUps founder and CEO Michael Faulkner in the middle of the hectic Interactive Trade Show & Exhibition.

First, let me describe the last few whirlwind weeks Faulkner and SeedUps have had. The company, based in Ireland, launched a beta version last November in the UK, and officially launched in February of this year. Their U.S. launch is this week at Interactive.

Second, here's some background on Faulkner who also serves as the CEO of currency services company Euroxchanger. At that post, he realized there needed to be a better way to funnel seed money to young startups who often run the risk of getting lost in the banking sector or other more traditional ways of funding. Inspired by crowdfunding sites like Kickstarter, SeedUps was born.

There are two sides to SeedUps, one for investors and the other for entrepreneurs. Wealthy investors interested in a diverse portfolio -- particularly in tech, web and mobile -- are invited to join the website with the opportunity to invest up to $25,000 per business. For entrepreneurs, anyone can sign up and pitch. SeedUps curates the final list, with only the most promising startups having access to the investors, who then select the candidates to fund through the "wisdom of the crowd." (Faulkner calls this "crowdinvesting.") Ultimately, it's a faster model with a better fair market value for startups looking for up to $250,000 in funding.

Faulkner looked at several different conferences before choosing SXSW. He liked SXSW because it offered a mix of informative panels, a pool of startups, and also plenty of opportunity to network. In true Gatecrasher style, he didn't even know he'd have access to the trade room floor until this morning, when he was able to secure a tiny spot in the behemoth UK Trade & Investment booth, representing diverse companies like DADapp, MoodShare and Planzai. With only enough room to place a pop-up banner, he and his small crew of associates started working the floor.

SeedUps is actively looking for U.S. startups. Since their launch in the U.K. they've raised $13.5 million from investors and a roster of 300 entrepreneurs. After SXSW, Faulkner plans to travel to San Francisco and set up a small headquarters before returning back to Ireland.

What do you think? Is SeedUps onto something?

-- Bryan Keplesky is Senior Art Director at Austin's Door Number 3, an independent branding shop. Bryan has covered SXSW since 2005.

Bryan Keplesky

Art director, designer, writer

Bryan Keplesky runs his own creative studio in Austin, Texas, working in design, branding, art direction and writing.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

You Have One Month Left to Buy a House, According to Barbara Corcoran. Here's Why.

"If you are planning on waiting a year and seeing where interest rates go, you are out of your mind," Corcoran said.

Business News

Meta Fires Employee Making $400,000 Per Year Over a $25 Meal Voucher Issue

Other staff members were fired for the same reason, per a new report.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Thought Leaders

These 3 Trends Will Change What It Means to Be an Entrepreneur in 2025

Here are three entrepreneurship trends from the new Global Entrepreneurship Monitor report that are changing the landscape for the future.

Side Hustle

I Made $14,000 in 1 Week With a Spontaneous Halloween Costume Side Hustle — Here's How

Sabba Keynejad was in art school when he started to refine his entrepreneurial skills.

Franchise

The McRib Is Back, But Only at Select McDonald's — Here's Where to Find It

This scarcity is nothing new. In 2022, McDonald's announced a "Farewell Tour" for the McRib, suggesting that it might be the last time customers could get their hands on it.