Bill Gross, founder and chairman of Pasadena tech incubator Idealab, announced Monday a new company dedicated to matching ideas with investors and entrepreneurs.
A combination of “Kickstarter, Quirky and XPrize,” IdeaMarket lets anyone submit a product or service idea. If investors show interest, teams of entrepreneurs or developers can present competing plans on how to build out the idea. The winner will be awarded the investment. The public can also submit feedback and invest themselves.
So far, more than $2.5 million is available for 17 ideas on the marketplace’s website. Ideas include EarGlass, a play off Google Glass but without the eye visor, and Trashnado, an “Uber for trash-collecting” mobile app.
“IdeaMarket makes it efficient for talent, money and ideas to find one another,” Gross said in a statement. “IdeaMarket’s goal is to someday help create one million businesses that positively impact more than a billion people.”
Since 1996, Idealab has helped create more than 125 companies, including Factual, Picasa and Internet Brands.
Launched out of Idealab, IdeaMarket will be based in San Francisco.
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