// An Australian-first online platform, designed to match new startups with non-financial investors, has fast-tracked its launch after a highly successful beta test…
Pitch Portal is a WA-based investment network that is designed to help businesses connect with skilled professionals, creatives and technical service providers who wish to invest time and resources in exchange for a payment.
Using the Tinder-esque platform, businesses can pitch details or businesses opportunities on the platform for review and if there is a connection an arrangement can be negotiated. Arrangements recommended include profit share, staggered payment, part payment, equity, equity buyback or simply just an exchange of services.
Co-founders Amanda Fay, Peter Ward and Nicolle Jenkins came up with Pitch Portal as a way of allowing professionals to transfer skills to startup companies.
They argue this let startups get off the ground and fast-track their development by cutting out intermediaries and unneccessary costs.
Whilst initially confident it was a good idea, Amanda has been pleasantly surprised by the strong interest Pitch Portal has generated since the launch in April this year in the midst of Covid-19.
At the time of publication, there were 146 businesses listed on the portal alongside 319 service providers with 63 successful pitches – or ‘matches’ – to date.
“There’s nothing like this in Australia currently and it comes at a time when many people are being forced to quickly transition from permanent work to developing a new form of revenue,” says Amanda.
“Money is invariably tight right now and many businesses are being forced to think sideways in terms of generating revenue,”
“There’s a big push to do business in a different way and to start mobilising new innovations. Unless a business already turns over a good profit, then investment, bank loans and grant funding is hard to come by.”
Amanda Fay, Co-founder and CEO, Pitch Portal
Already the platform has attracted many professionals from diverse industries such as marketing, law, design and software development alongside interest from business mentors.
Many attracted to the platform see Pitch Portal as an opportunity to break into new industries by utilising their skillset to break barriers and create positive outcomes for businesses whilst potentially being an additional source of income.
“The fee for service form of payment is becoming antiquated and the model is seen as high risk and difficult to justify – we need to be more flexible on how we generate funds during a recession,” says Amanda.
“So far 90 percent of businesses receive interest on their pitch within weeks, and we estimate 15 percent are already ‘matched’ and progressed with their collaboration.”
To find out more, click here to check out the platform. Get Swiping!
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Featured Photo: Amanda Jay (Supplied)
