Now here we go! Finally, we have a viable way for the OSS world to obtain funding for their projects without the pains of trying to work with alternatives.

 Fundable.org is a new service that allows people who need funds to connect with those who are willing to contribute. Co-founder John Pratt isn’t sure where the idea came from, but he and partner Louis Helm have been working on it day and night since the inspiration hit them in January, 2005.

The concept, while unique, is quite simple. Anyone who has a product or service to sell, or needs monetary support for a charitable cause, or who wants to organize a group purchase, posts their requirement on Fundable.org. They specify the number of contributors needed and the amount of money required from each. They also specify a deadline by which to raise the needed capital. Fundable.org holds all contributions until the total amount requested is received, or the deadline is reached. If, by the deadline, the amount contributed is less than the required amount, the project is scrapped and the contributors receive a full refund. [Read the rest]