Upstart, a new company started by a former Google executive, is unveiling a crowdfunding service to help college graduates pursue their entrepreneurial dreams.
By using Upstart, graduates in just about any field can raise capital for their business in exchange for giving up a small share of their income over 10 years. The idea is to give graduates a real shot at starting a company and not just take a traditional job to pay off student loans.
With Upstart, a student creates a profile that includes achievements and goals. The student then chooses the funding amount, and Upstart calculates the percent of income the student will have to share during repayment. There is no repayment in years when income is less than $30,000. Backers can commit funds in increments of $1,000. Mentoring and support are also provide
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