How Does It Work?

We haven’t figured out all the nitty-gritty details yet, especially as we intend to integrate your feedback as much as possible in this. But here is the basic principle…

We are going to use a special version the popular blogging platform Wordpress, called Wordpress Multi-Users. The idea is to allow entrepreneurs to submit their projects, via a web form or by email for example.

We will select the projects in committee, based on whether they fit in with our values, on our experience, and a whole lot of subjective criterias.

Once a project is selected, we will create a blog for them. We’ll try to maintain some sort of coherence in the way all the blogs look, and the basic information they provide. At this stage, projects will be in some sort of incubator and their primary goal will be to produce a prototype and create some buzz around their project.

Once projects have a working prototype (because we want concrete stuff), projects get out of the incubator and become sponsored projects. Then sponsors will be able to register with the projects and contribute with donations, advice, suggestions, work. All those contributions will be carefully registered and valued so that contributors get their fair share of the benefits when they come in.

And when projects turn into companies and release a commercial product, the benefits of the sales of this product will be shared between the project owners, betRway, and all the sponsors. We still need to identify what share will be assigned to each of the three, as well as a value system that will retribute all the different kinds of contributions, but we’re not there yet.

Finally, with all this value generated, be it money, experience, knowledge, market understanding, it can be reinvested into new projects and the cycle goes all over again.

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