Cofolio was a featured company on the front page of the Houston Chronicle’s business section (Feb 3, 2011).
Houston is known for energy, but the city is also building a budding technology sector. The world’s oil capital is home to scores of hopeful entrepreneurs developing new websites, software, medical devices, clean technologies and other innovations…
• URL: mycofolio.com
• Elevator pitch: Crowd-funding for small businesses.
• The idea: Tight lending markets have made funding harder to get for small businesses. Cofolio’s site, once it fully launches, will allow businesses to post profiles and pitches online. Cofolio then screens companies to ensure they are real. Interested investors can contact businesses they’re interested in helping fund. “At the same time we feel individual investors, because of the financial crisis, are growing weary and distrustful of financial markets and are looking to put their money into something tangible that they can understand and preferably look at so they can touch and feel it,” founder Sam Mar said. Since investors will be local, they’ll in turn likely be the biggest advocates for the business in the community, Mar said. Cofolio is debating whether it will charge a listing fee, around $50, or take a cut of the investments.