Grow VC Opens API for Developers to Have Really Open Crowdfunding Ecosystem

Oct. 12, 2011 - PRLog -- October 12 – London, New York & Hong Kong – ‘Virtual Silicon Valley’ platform creator Grow VC has opened API to its crowdfunding platform. The online venture community and micro funding network has grown to almost 11,000 entrepreneurs, investors and experts from 200 different countries.

"Our aim has always been to create #1 equity crowdfunding environment in the world. An important part of this is to make our platform and ecosystem open to all parties to develop services and businesses on top of the technical and legal framework we have created", states Grow VC Chairman and Co-founder Jouko Ahvenainen.  "We want to see that 3rd parties are able to run successful business by utilizing our platform and tools. Crowdfunding is technically and legally a complex environment and we have worked 3 years to build this functionality, so we can make it easy for 3rd parties to utilize our solutions." Ahvenainen continues.

In the first phase developers can apply for the Grow VC API beta program and get needed specifications and support to develop applications and 3rd party services that utilize the Grow VC platform. During this beta phase Grow VC further develops the API and its documentation together with the selected beta partners. Anyone is free to apply to the API beta program (http://www.growvc.com/blog/api-beta-program/). Developers can also meet Grow VC people during the “National Fall Tour” in New York, Los Angeles and Silicon Valley in early November.

There are already several parties that that are involved in utilizing the API. One of them is Silicon Valley based AHHHA™ (http://www.ahhha.com) that helps people to turn their ideas to profit. They can use the Grow VC API to get crowdfunding for startups that are created to implement an idea. AHHHA’s Founder and CEO Matt Crowe comments “I believe in the future of a more global ecosystem for early stage ideas, companies, products, and services through crowdfunding and Social Ideation and see the partnership between GrowVC and AHHHA the beginning of opening up opportunity to more people around the world.”

Another example is German-American Globumbus (http://www.facebook.com/Globumbus) that is founded by successful serial entrepreneurs and founders of Zanox. Globumbus develops a crowd sourcing type community for startups. Globumbus partner Thomas Hessler comments “The Globumbus team loves the passion for entrepreneurship seen in the Grow VC team. We will definitely use the Grow VC API with our ‘Global Crowd Network’ to cover the crowdfunding needs of our deals.”

The API can be used for many different services and applications, for example: 1) other web services can use Grow VC functionality and transfer data to and from the Grow VC platform, 2) Mobile and social media applications can offer crowdfunding and startup community functionality, and 3) Grow VC specific applications can help startups and investors in the investment process and portfolio management.

"The iPhone app was the first application that utilized this API. Now we are expecting to see many more applications, for example, other mobile apps and Facebook applications. We also see that 3rd parties can develop applications to analyze startup data and make investment recommendations, or they can link their existing startup services and communities to our service to implement an investment service", comments Grow VC CEO Valto Loikkanen. “In the networked society success is achieved by working as a part of networks. Grow VC wants to develop one important part for startup and investor networks and work together with other parties. This API is one important part of this evolution. And we will soon publish other important components to enable Grow VC to become a part of all startup and investor networks.”

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Grow Venture Community (Grow VC, www.growvc.com) is the first global, transparent, community-based platform dedicated to entrepreneurs and their needs. Grow VC enables startups to get visibility with the right investing audience and funding.