Australia-based crowdfunding platform Pozible has partnered with media and data company International Data Group (IDG) and China’s Shanghai-Nanxiang government to award matching funds and other support to entrepreneurs.
Seven of the internet of things (IoT) projects registered on Pozible will be selected to start a three-month promotion this month as part of the support provided by IDG Capital Partners, IDG’s China-based corporate venturing unit, and Shanghai-Nanxiang’s Technology 50.
The seven that raise the most funds on Pozible will receive a dollar-for-dollar reward – up to $81,000 for the winner, $32,000 for the runner-up, and a maximum of $9,000 for the remaining five campaigns. Any IoT project launched in Pozible in the relevant period will be eligible.
The Shanghai-Nanxiang government will provide the winning campaign owners with manufacturing and prototype resources and free Chinese entity setup services.
Pozible has raised almost $25m since launch and launched funding for more than 7,500 projects with a 57% average success rate to date.
Phil Jiang, managing director of IDG’s Shanghai office, said: “We are excited to get involved with the work Pozible is doing to encourage innovation globally.”
– A version of this article originally appeared on Global Government Venturing.