Food

Kenyan Start-up Launches $1 Crowd-funding Campaign

A newly established organic farming business start-up in Kenya has launched a unique way of crowd-funding to enable it start its operations. Moving away from the traditional crowd-funding campaigns, the start-up will transform all donations to shares.
( PR4US.com | Press Release | 2016-07-07 07:56:58 )
Migo Ranch & Farms, a registered Kenyan start-up has launched a crowd-funding campaign dubbed “The $1 Crowdfunding Drive” with the aim of raising initial start-up capital. Departing from the usual way of crow-funding where donors never get to know how their money is used, the start-up will transform all donations it receives into shares, which assures all donors a share in the start-up’s profits. The campaign is alive on the gofundme platform (https://www.gofund.me/28vn32y4)

The start-up is an organic farming business that sets out to produce different types of vegetables on a commercial basis to satisfy the high demand for quality vegetables in the Kenyan and regional markets. This is after realization that almost all vegetables available locally are laced with high levels of chemicals as the result of continued use of artificial fertilizers and pesticides by farmers.

Migo Ranch & Farms is one of the Eleven (11) start-up eco-friendly businesses selected by SEED (https://www.seed.uno/support/starter.html)) through its newly introduced SAG-SEED Starter program, a program that targets eco-friendly start-up business in Six (6) African countries for incubation. The team spearheading the campaign is not only trained in organic farming but has also received entrepreneurship training provided by SEED. The start-up is now crowd-funding to raise $1,500 start-up capital.

In preparation for its organic farming activities, the partners involved in the business have had their business registered and have acquired a 3-acre prime land near the capital so as to be near their main target market. The amount raised through gofundme will go toward the purchase of the necessary farming equipment and the necessary light machinery.

"Ours is a crowd-funding with a difference. We want to maintain a long business relationship with our donors and the best way to do so is to pay out dividends on a quarterly basis instead of the common giveaways associated with traditional crowd-funding", adding that he and his team are also preparing to attend the 10th SEED Africa Symposium scheduled to take place between 28th - 29th September 2016 in Nairobi, with the aim of meeting and interacting with possible investors.

The start-up's crowd-funding model provides donors and in particular small donors who do not consider themselves as investors a good opportunity to not only help the start-up start its operations but to also promote eco-friendly businesses while sure to receive dividends instead of the usual giveaways associated with traditional crowd-funding. Donors are able to obtain more information about the start-up by visiting:
https://www.gofund.me/28vn32y4 or write directly to SEED through starter-kenya@seed.uno


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