Crowd funding is becoming a bulletproof way to propel businesses, charity causes and films. EventStir applies the same concept to events.
I had a chat with Sajad Ghanizada, the co-founder, who introduced me to what I think is a definite winner. They came up with the idea during StartupWeekend DC 2011 and then went on to the Founders Institute, where they just graduated.
OK, What Is It?
EventStir as a value proposition that features only events “worth having”.
In the same fashion you get a deal on Groupon only when a certain number of people commit to the offer, EventStir draws together a network of vendors and attendees to commit for events.
If a user suggests an event, it will take place only if enough people pledged money to attend through EventStir’s payment system.
If enough people commit, the event takes place and everyone is charged the amount they pledged.
Why I Think It Is Brilliant?
I believe it is a kick ass idea.
Provided it will be implemented correctly, I think we have the potential for an industry revolution.
The reason why I say that is because EventStir addresses some of the major issues the industry is facing:
– Natural selection for awful event concepts. Bad ideas will get just what they deserve. Pruning that is.
– Budget constrains in turbulent times. EventStir make budgets a certainty, not a threat.
– Low turnout at events. Attendees will be committed as they participated through the whole process.
The topics above are a constant presence in event planners’ minds. Very few startups have the guts to address these issues.
Credit to EventStir for not creating yet another ticketing startup.
Going Forward
It is still to be seen how the idea will materialize and if adoption will follow.
Sajad tells me they will soon be throwing their first event “Angels On The Potomac”.
I will keep an eye on these guys and I suggest you do the same by requesting an invite to their private beta here.