Ian Shakil: One day a huge amount of money just was deposited into my personal bank account.
Julian: Stanford University grad Ian Shakil’s cash discovery was made possible by Upstart. It is the website Ian used to raise money to fund the creation of a medical app.
Ian: And now I feel ready to set out on my own and found my own company.
Julian: Former Google executive Dave Girouard co-founded Upstart, which connects investors and recent grads.
Dave Girouard: We actually need more people early in the careers taking risks, trying to create jobs rather than just take jobs.
Julian: In this economy it is no surprise that more people want to start their own businesses. The unemployment rate – or the amount of people without a job looking for work – is nearly 30% for high school graduates. And for college grads, it is almost 9%.
Right now, there are about eighty entrepreneurs on the Upstart site. More than half of them have been successfully funded. Fewer than ten have failed.
Ian: I have 32 angel investors through Upstart.com.
Julian: And now, Ian’s company has ten employees whose jobs can all be tracked back to Upstart.
Ian: It just opens doors to say that these folks have our back, our mentors. It gives us a lot of credibility.
Julian: Julian Dujarric, Channel One News.