Small amounts with big effects
CONDA is a crowd-investing platform founded in 2012 by Daniel Horak and Paul Pöltner in Vienna.
To receive this type of financing, new enterprises and start-ups present their new business idea online. The required amount of capital is raised through the contributions of many different investors. A minimum of 100 Euros is required for participation. The investors share in the profits, the increase in company value, and receive special goodies from the company. If the required amount of capital is not raised, the money is returned to the investors and the project reverts to the starting point.
This process also has the effect of getting publicity for the new enterprise, which – along with financing – is a big advantage for a new enterprise. Fourteen enterprises totaling 1.6m Euro have been financed so far, including All I Need, Wohnwagon and Burgermasta. As of December 1, 2014 CONDA is one of the few platforms that are active in the entire German-speaking area of Europe.
One of many other awards CONDA received was the 2013 Mingo award from the Vienna Business Agency. “The award was an important milestone for our success,” according to Daniel Horak. “It brought us a lot of visibility for a relatively new topic.”
Services/grants provided by the Vienna Business Agency:
- Start-up services Consulting
- Winner of the Mingo Award 2013
Daniel Horak und Paul Pöltner
Picture (c) CONDA