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Costas commented on OpenFunding Platform (refined version)

Just to reply on Paul comment, IP is difficult but iDea handles it with filing of provisional patents in UK or US that are also valid for WIPO to cover the first one year. I have ask them the same thing and they reply to me that NDAs are a first step to protect, second is the tracking of how is looking what so if a violation happens the offended requests the logs along with the NDAs copies so from nothing they have something to defend them selves… Also don’t forget that the speed of implementing is what ultimately protects you… so because on iDea every entrepreneur will know that in less than 6 months all selected ideas will be realized… so it’s fast and efficient…

About percentages… all numbers 25%, 6%, 69% are examples… when a system is being realized these numbers will be fine tuned form real life data…

All other questions either post them on the original post

http://www.openideo.com/open/web-start-up/inspiration/how-can-we-democratize-early-stage-funding-using-only-4billions-and-create-500.000-jobs/

or ask directly them…

http://www.idea.com.gr/i_contact.html

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Costas commented on OpenFunding Platform (refined version)

Unfortunately funding is our Number 1 issue!!! And it’s bigger than life… Another web matching service is ok… but 95% of the problem will remain intact… Another micro loan facility isn’t a solution; it’s just a cover-up and a delay for a real solution… Chinese are funded so hard and big time, that soon we will be unable to compete them… wait and see us drowning…

There was another concept I have tried to post on behalf of the team that is being developed by a Portuguese-Greek-German-UK team but they put me on breaks when I ask their permission to submit it… Because of the terms and conditions regarding IP and patent rights on ideas submitted to Οpenideo… So I couldn’t submit it…

That project solves ALL the problems… funding, mentoring, incubating, investors you name it… iDea Framework mitigates the trigger from investor’s hands to all of us… So it uses a combination of Democracy and Market driven assessment in order to streamline all public funding to one process designed by entrepreneurs for entrepreneurs… iDea allows everyone, even a homeless engineer that has a good idea to get funded and if he is good, to be successful… It’s designed to completely remove the capital barrier from the first cent… And imagine NO bureaucracy… no pile of forms, no writing to be revised BPs, no central control, Completely Liberal AND Democratic Accountable… iDea is: if it’s good and if you can, just do it…

FYI more here: http://bit.ly/mTZbGw

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Costas commented on OpenFunding Platform (refined version)

I will also add one more very serious and obvious factor:

f) The credit crisis that emerged EU since end of 2008 has NOT gone, all over there is a fall on regular investments, not to mention early stage, especially in distressed countries of the south where investors are long time gone. Assuming existence of investors in the south for early stage is a beforehand mistake.