New technology from startup ventures is transforming the sports industry. The mission of this series will be to introduce startup companies in the sports technology space to a broader audience and allow Founders of promising new ventures to tell their story. Feel free to contact us if you know of a startup that should be considered for this series.
Company: FOSBURIT
CEO: Guillaume GIBON and Charles MAHÉ
Headquarters: Paris, France
1. What is your elevator pitch?
Fosburit aims to empower sportspeople to fund their dreams by offering fans and supporters a personal connection on their journey to success.
Fosburit is a crowdfunding platform dedicated to adventurers and athletes. Whether it is sailing the Atlantic, running a race for charity, attending a soccer academy or being an Olympic champion, athletes and teams can use Fosburit to find the resources and support they need by connecting people around their inspiring projects.
Every athlete, team, association or amateur athlete can start a project on Fosburit, irrespective of performance, level or category. As a platform we offer simple solutions to raise funds, engage communities and use social tools to share (success?) stories.
2. Problem & Solution
Participate in a competition, acquire equipment, launch a new team or renovate infrastructure. With this, the conclusion is clear: there will never be enough funds to help finance all sports activities. Reference is made here to many amateur athletes or disciplines that do not have the chance to be publicized. In addition to the economic crisis, athletes or teams must spend more and more time on fundraising while it diverts them from their primary goal : to train in the best possible conditions. Especially, when you are not a NBA or NFL star.
But for each athlete, each team or each discipline there are fans and supporters willing to help them make their dream(s) come true. Based on crowdfunding leverages, these communities have the power of helping their champion in his or her journey to success.
To date, Fosburit has run more than 350 projects with a 92% success rate and over €1,5M raised. This success rate is especially impressive when you look at industry standards and it relies on both specific due diligence processes and 3 appropriate support offers. Project holders get a basic use of the platform at the “Start” level, a custom support from our campaign managers at the “Standard” level and an intensive follow up with PR and social media at the “Premium” level.
Out of the hundreds of applications we get each month, we end up selecting roughly 25% of the candidates to go live on the website.
3. Market – your target market and the overall market
Fosburit operates in France and soon will operate across Europe. Overall, there are thousands of athletes or teams facing development or financing issues that could use the platform to find the resources they need.
We feel we can reasonably estimate that up to 100,000 sports projects would be annually funded in France. That represents a $300M market until 2020.
4. Business Model – how do you make money?
We act as an online marketplace, connecting project holders with an audience of potential backers (their communities) and generate revenues through applying a 5% to 15% fee to all successfully funded projects on the platform.
In addition, we have been developing since June 2015, a B to B sponsoring business model where companies would benefit from dedicated brand content strategies based on our authentic user stories to highlight their projects’ endorsement.
5. Management Team – with titles
Guillaume GIBON, co-founder
Charles MAHÉ, co-founder
Franck PIAZZA, lead developer
Guillaume Gibon and Charles Mahé, the founders of Fosburit.
Simon VOISIN, campaign manager
6. What else do you want the audience to know about your venture?
In terms of development and vision, we’ve launched late February our English website and have in mind to develop our business across Europe and Americas in the coming months.
Bonus Question: If you were to invite any CEO to dinner who would it be and why?
Elon Musk! I am fascinated by his vision, the way he’s able to literally change the world and open new horizon for people. And I am not just talking about business!
If you could go to any sporting event, what would it be and why?
The FOOTBALL WORLD CUP! I had the chance two years ago to travel around Brazil while supporting my national team in the tournament. Such an amazing experience with fans from around the world!
