Three Teir Service Model: Facilitated, Partneres, and Accelerated
Most crowdfunding sites have a DIY/ self-service model, giving access to FAQs and videos, but that is about it. In healthcare we find that many projects need a little more help and direction to succeed. Most health innovators went to Med School or Grad School, not B School or Film School. That’s okay, our team of MBAs, film makers, mentors, copywriters, and marketers are experts in what works in healthcare crowdfunding. This is why 68% of our projects are finding success, compared to about 7% for healthcare projects on other sites. We call this “Crowdfunding Optimization” and offer it to individuals, companies, and challenge sponsors in various levels of service, briefly described here.
Facilitated: While we are limited in what we can give everyone, we offer up to two hours of expert help to everyone and are always available for questions and coaching as needed. Our Getting Funded Guide gives day by day instructions of what to do and is based upon our myriad successes. Originally modeled after the Pebble campaign by Eric Migicovsky, version 2 brings in another 25 methods we have found successful. Facilitated campaigns enjoy our base rates at only 5% of what is raised for All or Nothing campaigns or 8% for KWYRs (Keep What You Raise) campaigns.
Partnered: When we partner with our clients, we provide a suite of services on an as needed basis that may include video help, marketing, business design, writing, reward crafting, digital media strategy, press introductions and more. It costs a little more at 10% of the funds raised online and is by invitation only, but over 80% of the projects we provide this service to are successful. A key aspect to remember though is that there is only so much we can do to help projects along, the critical driver is always the project maker. For example, we can help compose engaging tweets and retweet your tweets to a much wider audience, but you still need to post the original tweet. Our digital media strategy team lead by Gregg Masters will teach you what you need to know, but you still need to be the one doing. Anything else is far less effective and not worth it. Total Engagement hours are generally limited to less than 20 hours of staff time. How the time is utilized depends on areas that the project needs most. We also offer a Partnered “Lite” package at an extra 3% for only 10 hours, also by invitation only.
Accelerated: Our Full Acceleration Service level includes as much hands-on time as you need, videography help, direction, business design and analysis, partner matching, Angel and VC introductions, and more. While a traditional accelerator will charge you 6% of your company for this service, MedStartr only charges 5% of what is raised online and 20k in warrants for equity at a fair estimate of pre-MedStartr valuation. We have seen valuations improve 100x in less than a quarter, so we know this method works. If you are interested in the Accelerator program please call us at 530.MEDSTARtr.