Startups need capital to recruit people, run marketing campaigns, get an office place, etc. They have two options to attract external capital: equity crowdfunding and private capital. Private capital includes mainly angel investing and venture capital. It is a pretty difficult way to raise funds because it remains geographically and network dependent and there is well-documented proof of bias.
Startups can also conduct a crowdfunding campaign on an equity crowdfunding marketplace. However, these marketplaces have various issues such as cost and location-dependency. Majority of such marketplaces operate in one country and prohibit companies and investors from other nations. Another drawback is the cost of complying with the regulatory framework, which is more than $20k for most jurisdictions and distracts entrepreneurs from creating the product and enticing users. It is also a sunk cost, therefore, the startup will not recover costs if the campaign is unsuccessful. The time and funds can be used on hiring more staff and developing the product instead of giving away to intermediaries. In addition, the marketplaces take up to 10% of the raised funds when a campaign is successful.
At Scruge, startups will incur no costs of conducting a crowdfunding campaign apart from their sweat capital. Its revolutionary crowdfunding model prevents fraud, eliminating the need for entrepreneurs to set up a legal firm. Unlike other crowdfunding platforms, Scruge does not charge any fee, so the founders receive all the raised money. That way, it will enable founders to raise funds without incurring any ongoing fees, commission, or upwards costs. Leveraging a decentralized stable digital currency and governance by prediction markets, Scruge delivers a decentralized and transparent mechanism for conducting crowd sales.
|Pre-Sale||2019-04-01 – 2019-05-30|
|Token Sale||2019-09-01 – 2019-10-31|
|PreICO Price||1 BIDL = 0.006 USD|
|Price||1 BIDL = 0.012 USD|
|Minimum Investment||10 USD|
|Soft Cap||120,000 USD|
|Hard Cap||240,000 USD|