September 20, 2012

Two Baguio Entrepreneurs Try Crowd Funding

Ah, the power of the internet. It has truly revolutionized everything. From the formation of anti-government protests to the realization of ambitious business ideas. The web culture can provide anyone who can tap on a keyboard or click on a mouse, with the means to do anything. Say crowd funding, for instance. It's a concept that makes the impossible possible. Wikipedia defines it as "the collective effort of individuals who network and pool their resources, usually via the Internet, to support efforts initiated by other people or organizations. Crowd funding is used in support of a wide variety of activities, including disaster relief, citizen journalism, support of artists by fans, political campaigns, startup company funding, movie or free software development, and scientific research."

See, you can be a pauper but with crowd funding, you can have your own castle built. Indeed, the times, they are a'changin'. And it's good. All good.

Two Baguio souls, Jennifer Carino and Shirley Bognot-Esplana, are tapping into crowd funding to realize an establishment they call the Lemongrass Cafe Artspace. Their goal is to raise one million pesos which is their estimated costs that should cover start-up costs and rent/renovations costs. As of this writing, they already raised 52,000 pesos. It's a good start. They still have about two and a half months left to get the rest of the funding.

They are using a local crowd funding site called ArtisteEConnect. You can visit the Lemongrass Cafe Artspace project page here.

The Lemongrass Cafe Artspace project is probably the first of its kind here in Baguio City. The first cafe and art space to be funded via online crowd funding. And it will be interesting to see how everything will play out. Will they be able to raise the 1 million pesos? It's very possible. Their business idea is great and Jennifer and Shirley do seem to know what they are doing.






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