Monday, September 8, 2014
Bill Gross Backs Startup Idea Marketplace IdeaMarket
Bill Gross, the founder of Pasadena's Idealab, is stepping out of the lab, and into the market--saying Monday that it has co-founded a new startup called IdeaMarket, which will let investors submit funded, high level startup ideas, let the public provide feedback, and allow technically oriented talent make a bid to help bring those ideas to life. According to the startup--which is based in San Francisco--it will let participants in the process share in equity and other profits from those companies. Ideas posted on the site include "Pizza Bot" -- mobile app for pizza delivery; "Trashnado" -- mobile app for garbage removal; "Power Belt" - a wearable belt to charge your cell phone--and others. All of those ideas have a pre-commited amount of capital from investors willing to back those ideas.