If you have ever watched Dragon’s Den, you know the depths that would-be entrepreneurs will go to get money to fund their businesses. Finding an angel can be a rough sport. Oftentimes, entrepreneurs are relegated to spending thousands of dollars for the opportunity to present their business at a conference designed to connect startups with investors looking for the next Google. Attracting money to fund your concept at these events is a long shot.
In early 2009, Bartek Ringwelski was spending his days working at Canaan Partners, a venture capital firm in Westport, Connecticut, where he analyzed pitches and learned startup basics. But after he received 100 responses to a Craigslist post for a cleaning person, he began spending his nights and weekends on an idea: a startup that would rate one-person businesses, which account for at least 15% of the workforce.