Outvesting - Got €50 for a Start-up?

I’m on twitter every day - sometimes to share interesting information that I’ve come across, sometimes I just read what others are saying.

One interesting tweet that I saw and acted upon came from @Eirepreneur. He spoke in less than 140 characters about the idea of outvesting.

Definition: out-vĕst’ing/ The act of committing money to a business while expecting to get nothing in return, other than the satisfaction of giving a leg up to Irish entrepreneurs.

So James put forward the idea of 100 business owners pledging €50 each, getting the €5,000 and then looking for submissions from start-ups for the cash. What a great idea.

€50 buys you what in Dublin today? An early bird dinner, a pair of jeans? (depending on where you buy them!), a round of drinks for about 8 people or a trip to the doctor/dentist.

Donating one little brown note can make a huge difference if you add it with 99 other brown notes. This will be an enormous help to a start up. If I had that money when I first started, it would have been a huge benefit to me.

I’m in. Are you?

If you want to be, check out http://outvesting.org/. If you’re on twitter, follow @outvesting and the hashtag #outvesting.