Jigar Majmundar, BBA ’14, has given the crowdfunding concept a competitive new twist. This fall, he and his partner, Milan Patel, launched UniSprout, an online crowdfunding platform that enables University of Michigan students to raise money for their start-up ventures by tapping into the University’s vast alumni network.
“There’s a big entrepreneurial push here at Michigan, and many students are pursuing innovative ideas for new businesses both inside and outside the classroom,” Majmundar says. “However, a number of student entrepreneurs and organizations are having trouble with seed and early-stage fundraising, in part because they are not reaching the very people who are most likely to help them ─ Michigan alumni. We decided to develop a crowdfunding website that would allow these students to connect with loyal Michigan alumni who may be potential backers.”
Majmundar began developing the business concept for UniSprout in Professor Len Middleton’s Introduction to Entrepreneurship course, a…
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