Starting Monday, startups that use CrowdFlower's crowdsourced labor service will have the chance to receive investments of up to $10,000 each, courtesy of startup accelerator and seed fund 500 Startups. The Crowdflower Fund, a $250,000 platform micro-fund, will offer investments in up to 10 companies for a one percent stake. A lucky few startups may also qualify for $50,000 investments and an invitation for an upcoming accelerator program at 500 Startups' office space in Mountain View, California.
The partnership between 500 Startups and CrowdFlower, which offers a labor-on-demand service for companies that need simple jobs completed quickly (making sure that business listings are accurate, for example), makes sense. "[500 Startups founder] Dave McClure was an investor at CrowdFlower when he was at Founder's Fund," says Lukas Biewald, CEO of CrowdFlower. " We had been looking for a way to work together. We want to help more startups use our software in innovative ways, and Dave wants to fund innovative startups."
McClure agrees. "By providing a quick and easy way to finance startup innovation, we realized we could kickstart the business community to build more great startups on CrowdFlower,” he said in a statement.
Want to cash in on 500 Startups' investment opportunities? Companies can apply starting October 4 here. McClure and Biewald will jointly select the winners on a rolling basis.