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New Social Venture, Spud Flower, Seeks to Change How Families Will Save Money for College With Crowd Funding

New Social Venture, Spud Flower, Seeks to Change How Families Will Save Money for College With Crowd Funding

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Published by: Crowdsourcing.org on Jan 16, 2013
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02/03/2013

 
P R W e b e b o o k s - A n o t h e r  o n l i n e v i s i b i l i t y t o o l f r o m P R W e b   
N e w S o c i a l V e n t u r e , S p u d F l o w e r , S e e k s t o C h a n g e H o w F a m i l i e s W i l l S a v e   M o n e y f o r C o l l e g e W i t h C r o w d F u n d i n g   
 P i l o t a l l o w s n o - f e e f i n a n c i a l c o n t r i b u t i o n s f r o m f r i e n d s a n d f a m i l y t o b e d e p o s i t e d i n t o a c h i l d s  b a n k a c c o u n t  
S a n F r a n c i s c o , C A (  P R W E B    ) J a n u a r y 1 6 , 2 0 1 3 - - S p u d F l o w e r , a n e w s o c i a l v e n t u r e , a l l o w s f a m i l y a n d f r i e n d s  t o m a k e s e c u r e , n o - f e e c o n t r i b u t i o n s t o c o l l e g e s a v i n g s a c c o u n t s W i t h S p u d F l o w e r , p a r e n t s s e t u p a p r o f i l e f o r e a c h c h i l d a n d c r e a t e c a m p a i g n s t o s h a r e w i t h f a m i l y a n d f r i e n d s . A r e c e n t l y c o m p l e t e d p i l o t o f S p u d F l o w e r s s e r v i c e r a i s e d a n a v e r a g e o f n e a r l y $ 5 0 0 p e r c h i l d f o r t h e i r   b i r t h d a y s . O u r r e s e a r c h f o u n d t h a t f r i e n d s a n d f a m i l y a r e w i l l i n g t o g i v e a c h i l d a f i n a n c i a l g i f t f o r c o l l e g e t h a t  f a r e x c e e d s w h a t t h e y w o u l d o r d i n a r i l y s p e n d o n t o y s o r g i f t s . A n d o u r p i l o t p r o v e d t h i s t o b e t r u e , s a y s S p u d   F l o w e r s c o - f o u n d e r , S t e v e n T i e l l T h e k e y t o u n l o c k i n g t h i s c r o w d f u n d i n g p o t e n t i a l i s e n s u r i n g t h a t f u n d s g o t o a n a c c o u n t i n t h e c h i l d ’ s n a m e . T h r o u g h p a r t n e r s , S p u d F l o w e r i s a b l e t o o f f e r t h i s g u a r a n t e e i n a h i g h l y s e c u r e f a s h i o n . I l l u s t r a t i n g t h e i m p a c t  t h i s c a n h a v e , a s t u d y f r o m W a s h i n g t o n U n i v e r s i t y ’ s s c h o o l o f S o c i a l W o r k f o u n d t h a t c h i l d r e n i n f a m i l i e s w i t h   a   c o l l e g e s a v i n g s a c c o u n t  a r e 4 t i m e s m o r e l i k e l y t o a t t e n d c o l l e g e a n d 7 t i m e s m o r e l i k e l y i f t h e a c c o u n t i s i n   t h e c h i l d ’ s n a m e r e g a r d l e s s o f t h e v a l u e o f t h e a c c o u n t C o l l e g e c o s t s  a t p u b l i c i n s t i t u t i o n s a r e d u e t o i n c r e a s e 8 . 5 p e r c e n t t h i s y e a r , m a k i n g 2 0 1 3 t h e 2 7 t h c o n s e c u t i v e   y e a r t u i t i o n i n c r e a s e s h a v e o u t p a c e d i n f l a t i o n . E s t i m a t e s s u g g e s t t h a t a c h i l d b o r n t o d a y w i l l p a y n e a r l y   $ 2 5 0 , 0 0 0 f o r a n   u n d e r g r a d u a t e d e g r e e   a t a b e s t v a l u e ' p u b l i c i n s t i t u t i o n . T h e e d u c a t i o n a l d i v i d e i s h e r e a n d    S p u d F l o w e r o f f e r s a n e f f e c t i v e w a y t o a d d r e s s g r o w i n g i n e q u a l i t i e s S p u d F l o w e r i s c o m m i t t e d t o s e r v i n g i t s s o c i a l m i s s i o n o f i m p r o v i n g g e n e r a t i o n a l e c o n o m i c m o b i l i t y f o r o u r  n a t i o n s y o u t h . T o e n s u r e e v e r y f a m i l y c a n b e n e f i t , a l l u s e r s c a n m a k e f i n a n c i a l c o n t r i b u t i o n s f o r f r e e . I n s t e a d   o f c h a r g i n g f o r t h i s c o r e s e r v i c e l i k e i t s c o m p e t i t o r s , S p u d F l o w e r e a r n s r e v e n u e f r o m s e l l i n g e d u c a t i o n a l t o y s  a n d o f f e r i n g n e a r l y t w o d o z e n p r e m i u m s e r v i c e s T o f i n i s h b u i l d i n g i t s p l a t f o r m , S p u d F l o w e r h a s l a u n c h e d a   c r o w d f u n d i n g c a m p a i g n   w i t h a g o a l t o r a i s e   $ 5 0 , 0 0 0 f o r d e v e l o p m e n t c o s t s . C o n t r i b u t i o n s c a n b e m a d e a t  h t t p : / / i n d i e g o g o . c o m / s p u d f l o w e r  - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -  S p u d F l o w e r i s a s o c i a l v e n t u r e f o u n d e d i n D e c e m b e r 2 0 1 1 a n d i s a r e g i s t e r e d c o r p o r a t i o n i n D e l a w a r e w i t h   o p e r a t i o n s i n S a n F r a n c i s c o , C A . S p u d F l o w e r e v o l v e s t h e w a y f a m i l i e s s a v e f o r c o l l e g e b y m a k i n g i t i n v i t i n g   a n d f u n t o a s k f o r a n d r e c e i v e f i n a n c i a l g i f t s

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