Jumpstart A platform that contracts entrepreneurs with the necessary resources assisting in starting up on their ideas

Abstract

Many entrepreneurs attempt to start-up but run into a series of roadblocks. Lack of opportunities for funding, access to investors, skill gaps within the team are a few problems addressed in this report that demotivate entrepreneurs who consequently give up on their ideas. The start-up eco system of Sri Lanka is currently portraying growth in start-ups, hence a pressing need for an innovative solution. The project aims to understand these barriers, and understand the methods available to generate funding and fill the skill gaps of start-ups and to design an IT solution that would help reduce these barriers. More specifically, it focusses on how equity crowd funding and freelancers could help bring down the stated barriers and pave the way for success of early stage technology start-ups. Various methods of funding, how freelancers can assist start-ups have also been identified through comprehensive research in the literature review. To evaluate the factors identified, an industrial survey was conducted in the form of questionnaires and interviews from experts in the industry. Jumpstart, the IT solution was evaluated by potential users and experts, and received positive ratings in terms of a viable solution for the success of early stage start-ups.