Cultivate Labs: Press Releases

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Cultivate Labs Launches Ignite: A Kickstarter-style Crowdfunding Platform to Discover Innovative Seed Stage Ideas Inside Companies

Empowering employees to innovate and “invest” with corporate resources

Chicago, Illinois, May 30, 2017 -- Today, Cultivate Labslaunched Ignite, a Kickstarter-style crowdfunding platform for companies to use inside their organization. Cultivate knows the future of established companies is dependent on the ability to quickly adapt and innovate by removing barriers to action and engaging employees at all levels in ideation and funding decisions. Employees pitch ideas to solve critical business problems and invest in them with company budget on the Ignite platform. The company commits to making fully funded ideas real projects. Used by some of the world’s largest defense, pharmaceutical, and energy brands, Igniteis now available for small to medium sized teams with self-service packages designed to meet their budget and needs.

“Most companies look for external indicators to guide their business decisions and miss the benefit of using the people who have the most intimate knowledge of their products, strategies, and operations - their employees,” says Cultivate Labs CEO Adam Siegel. “Ignite allows companies to leverage their ideas and expertise to make better funding decisions.”

Teams can set parameters to guide idea generation around specific problems or areas and set the total budget to be invested. Participants are invited to pitch and volunteer on projects. Employees then have the opportunity to invest in the ideas they believe are the most valuable. When the funding round ends, fully-funded ideas become live company projects with funding, support, and staffing already in place.

Crowdfunding is a proven way for entrepreneurs to test ideas in a live marketplace, receive immediate feedback and market indicators, and adapt, launch, or abandon ideas. With Ignite, existing companies can gain the same indicators internally to prioritize the best ideas, efficiently use funds, and streamline product development. Ignite offers a free two-week trial and monthly plans for businesses of all sizes.

“Our enterprise clients benefit greatly from internal crowdfunding, and we wanted to extend the same opportunity to smaller teams who want to create a constant cycle of innovation and help organizations engage with their people and find the best ideas that are already inside of them.”

Dashboard view of Cultivate Ignite, a Kickstarter-style internal crowdfunding platform for businesses

About Cultivate Labs

Cultivate Labs is a Chicago-based tech company that helps organizations tap into the collective wisdom of their people through crowdsourced insights and innovations using prediction markets and crowdfunding based platforms. Learn More

For More Information, Contact:

Cathryn Wile, Director of Marketing
Email: [email protected]
Phone: (202) 643-7893, available 9AM - 5PM MST or by appointment

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