The founders of Echo have been working on their idea for one and a half years. And digging their mind as how should they get the necessary money.
One million Swiss francs that’s how much money Mirco Nietlisbach and Jonas Beer need to realize their idea. To make the world a little bit better.
The idea of Echo
Echo is a platform through which you can invest money in stocks or bonds, explains the 29 year old Bernese Jonas Beer. And you can create money at any bank. Echo is based on an algorithm that analyzes various company data. So you can see how sustainable or social a company is.
With Echo you can create sustainable money
“Money always has an effect where it is invested. And the more money invested in a sustainable company, the better for our environment,” says 31 year old Zurich based Mirco Nietlisbach.
Free work for your own vision
Jonas Beer and Mirco Nietlisbach have been working on the platform for more than a year. Now they need money to build the platform. And to get the money from investors, it needs a functioning business model.
So far they are not yet. That’s why they are currently working without wages and keep themselves on the water with part-time jobs. “That’s just how it’s in a startup, and this is the deal you get,” says Mirco Nietlisbach. They need money anyway. And by investors at a pitch.
What is a pitch? Pitch in the startup world is a presentation of one’s own idea to investors. In a few minutes startups try to convince them of the project in order to get their money. The idea and a business plan are presented. In other words how the idea will bring money to the coffers.
“Without a functioning business model, it is difficult to obtain money from investors. That’s why we revise Echo’s business model,” says Mirco Nietlisbach.
Mirco Nietlisbach further explained, “Then we take a fresh start. Then it is pitched again, perhaps with more success. Until then continue to work for free.”
The two young entrepreneurs want to realize their idea of a more sustainable financial market at any price.
Also published on Medium.