Let's Buy an Island

The world's first crowdfunded private island

1 follower

The world's first crowdfunded private island

1 follower

A group of travel junkies have pooled resources and are preparing to purchase a private island to develop for ecotourism. It's a dream I think many people have had but these guys are actually making it happen allowing people to purchase a share of the island

Launch tags:Crowdfunding

Launch Team

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Some people (not me honest 'guv) might think this sounds like a bit of a scam, how can you reassure potential investors?

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7yr ago

Let's Buy an Island

Maker

@beverley_kirwan1 Investors receive a share in IBG Inc which is a Cayman Islands entity, founded in July 2018 with the specific goal of investing in island real estate and developing it for commercial use. Our investors’ shares are protected under Caymans law. We are happy to provide copies of our incorporation documents and shareholders agreement and other paperwork with any potential investors.

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7yr ago

Generally, I find this is a good idea, but the small sizes of the islands (like 100 x 100 m) do not allow for much. E.g. this will definitely not allow for more than a few small houses. What would you do with such a small place?

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7yr ago

Let's Buy an Island

Maker

@suleimanmustafa We are trying to buy something manageable in terms of size and cost for our first island. If you have been lucky enough to visit the maldives or similar resorts, the islands themselves are actually very small! Depending on the island we buy of course, we will plan accordingly for our development. We may even built a single dwelling for example to start with. We have business cases for all of our plans for each island.

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7yr ago

Guys take a hint from Fyre Festival...island projects don’t work, because the effort, cost and logistics are always drastically underestimated. You’re trying to raise 400k for this?? This is a $40m project easily.

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7yr ago

Let's Buy an Island

Maker

@harrison_g We disagree! We have looked at islands that are €79k where we could run camping retreats - thats not a multimillion dollar project for sure. We are not Leonardo DiCaprio building his huge resort in Belize (though we did look at the island next door!) Some of our favourite islands are well below the $200k mark and its possible to build a prefabricated dwelling for £60k. These are just examples. Some of our team have built communities in disaster zones and resorts in the caribbean. All of our plans are costed and include contingency. To response to your comparison to Fyre Festival... The organisers of Fyre festival overstated their financial position in order to take money from customers. We have not overstated our financial position. Our investors receive a share in the company in exchange for their funds. Our project is completely different. Fyre Festival promised something upfront, then took money for it before they had secured the experience as a reality. In contrast, we are completely transparent with our investors and we’re working together with them at every stage – we’re all on this journey together. We all understand the risks of an investment like this, but we’re all focussed on sharing the rewards at the end. Id you have any more questions I would be pleased to answer them though. :)

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7yr ago

hummingbot

Interesting idea! Besides a potential to use the island for free, is there any other benefits for investors? Do investors get a share of future revenue?

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7yr ago

Let's Buy an Island

Maker

@yingdan Of course, we hope to provide a return on investment.

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7yr ago

There is already a great community backing this project. They come from diverse backgrounds and contribute a wealth of knowledge and variety of skills. Is there a plan to participate in the non-FIFA World Cup?

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7yr ago

Let's Buy an Island

Maker

@liam_carroll We arent sure we will have space for a pitch on our island, but we will definitely be putting together a team! In fact, one of our investors is on the board of a UK football team!

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7yr ago

Startup Fundraising Calculator

Such an interesting idea @jodiehill When do you think the first visitors or investors could actually go on the island for a vacation?

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7yr ago

Let's Buy an Island

Maker

@spela_prijon It depends on what they want! If they have a tent and some supplies there is no reason they can't go straight away once we have completed the purchase.

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7yr ago

How are you planning to create infrastructure, services, and transportation? All of that requires recurring costs and permanent residence (or robots).

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7yr ago

Let's Buy an Island

Maker

@miles_exner1 Hello Miles. We have been doing our research on solar for generating power in our tropical locations and there are lots of options for water, sewerage etc. Re transportation, its likely that we will purchase our own boat.

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7yr ago

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