For young people seeking to change the world, finding the resources to launch their careers and kick-start their dreams can seem like an insurmountable challenge. But that’s where Pave comes in.
Introduced on Wednesday, Pave is a brand new company that equips young people with wisdom, guidance and financial backing from successful individuals seeking to invest in the next generation of movers and shakers.
Young adults who want support can join Pave as ‘prospects.’ Investors, called ‘backers,’ supply the initial funding to get prospects up and running, for a cut of their profits down the line. When prospects are fully funded — with the bar set at $20,000 — they, together with their backers, form a ‘team.’
Prospects are bound to give back a portion of their earnings over a certain time period, such as 10 years. If prospects fail in their goals, backers won’t receive any return on their investment. But the small New York company doesn’t seem too concerned about that happening. The Pave founders believe their project will “unlock potential and create a long-term sense of shared purpose,” according to their website.
While there are numerous crowdfunding websites on the Internet, Pave is unique in its focus on empowering young people. With a group of seemingly young staffers — many of whom are also backers — Pave itself is somewhat of an inspiration to young people striving for their dreams. And with the first eight fully funded teams set loose into the world, it’s only a matter of time before they start making their mark.
[youtube http://www.youtube.com/watch?v=EjuqGMnhEKk]
(h/t Mashable)
