Wesley Haines

UX Designer

19

2

Lump Sum

The Problem:

Sometimes (even oftentimes), startups waste time and money building and launching products no one wants to use.

The (supposed) Solution:

Lump Sum is a macrodonations platform that chooses ten in-development product launches from various tech startups around the world and pits them against one another in a vote to receive half (two winners out of ten) of the total sum of money donated by the end of the month. A competitive marketplace for the best products startups have to offer.

  1. Ten different startups and their proposed product launches are featured each month
  2. Out of the ten, you pick your three favorite startups/product ideas.
  3. $20 buy-in each month to participate.
  4. Two out the ten companies with most votes at the end of the month win their respective halves of the total amount donated that month.
  5. Users who voted for one of the winning companies are allowed to test the new product before it is made available to the public and receives exclusive news about new product releases.
  6. Closes the feedback loop quickly from trendsetters/power users for startups, while appeasing the fanboy sensibilities among said users.

Users can also create a wishlist that is aggregated with all others and is updated in real-time, while displaying trends in certain products wanted by various users. Ultimately, it is a competitive marketplace that dictates trends and demand for certain products and features from websites. Usability research, competitive market and crowdsourcing platform all rolled into one. In a word, the platform is like micro-angel investing in a particular product.

Ultimately, Lump Sum is a competitive Kickstarter for startups and their products

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  • still not sure on the name
  • path to monetization: possibly taking a tiny percentage of the lump sum each month (2-5%), ???
  • process of marketing and selling idea to startups could be difficult... look for help on that end

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