I’m considering starting a weekly tradition where I give a shoutout to a French company that is doing something I find particularly innovative. Well, this week that company is Lyon-based Regioneo – who launched a user-investment campaign, which I detailed in TechCrunch Europe.
Why is there no translation for “bon appétit” in English?
In case you are unfamiliar with Regioneo, they’re essentially the French equivalent to Foodzie. I thought the idea behind Regioneo was dynamite even prior to this week’s innovative investment initiative, because obviously local artisanal foods in France have an appeal and quality that their American substitutes don’t.
But as much as I like their platform, I’m applauding the innovative way they decided to raise funding this week – which brought them to just under €50,000 in 5 days. Plus, not only did Regioneo raise money, but it brought together a group of high-profile entrepreneurs (or “ambassadors”) to support their cause. Money plus marketing. Yum. Translation: they can have their cake and eat it too (avoir du beurre et l’argent du beurre, en français).
Keep your friends close and your investors closer.
This is not the first company, however, that is leveraging social means for funding. In fact, FriendsClear is another example of local company that is putting a new spin on investment; the P2P lending platform is oriented specifically towards investors and entrepreneurs. Maybe something for Sprouter to consider?
Surely if Ségolène Royal was allowed to make-up words during the last presidential campaign, local entrepreneurs can also invent their way out of roadblocks. In Silicon Valley where it rains VC money on Sand Hill Road, entrepreneurs are possibly less-likely to get creative with funding. And while funding in France is not the monstrosity that everyone makes it out to be, the local VC scene is simply less developed. Which is why I’m sure we’re likely to see more innovation in this space along the lines of what Regioneo and FriendsClear are doing.