Crowdfunding Start-Up for Medical Students Could Fill a Global Void
BY Abigail Tracy
Medifund aims to connect medical school students in disadvantaged countries with potential sponsors to raise funding for medical school.
How do you increase the number of doctors in countries with shortages of medical professionals?
That's one problem Medifund--a new crowdfunding platform for wannabe doctors in Asia and Africa where high medical school costs are limiting-- aims to solve.
Medifund is currently in public beta with a reported 30 medical students queued for fundraising campaigns when the crowdfunding platform officially launches in about three months time, reported TechCrunch.
To make sure the medical students who will use Medifund are well qualified, the crowdfunding site plans to reward students with badges for submitting background information about themselves such as transcripts, financial records, and recommendations, reported the outlet.
Medifund plans to take 5 percent of each fully funded campaign to maintain the site, founder Jossy Onwude, told TechCrunch. He also said he is in talks with medical schools, NGOs and scholarship companies interested in funding the startup and that he has plans to launch a peer-to-peer loan program as Medifund grows.
While there is little more information about the start-up, it seems Medifund will be somewhat similar to such crowdfunding sites as GoFundMe, a platform where people can create personal donation websites, and Watsi, a Y-Combinator backed non-profit aiming to raise money to fund medical treatments for people around the world.