miRunners executive director Chris Ryan spoke with Angela Castles of SmartCompany to get the word out: “crowdfunding for horses” will shape the future of Australian horse racing.
We’re making it possible for hundreds of thousands of Australians to own a share in a thoroughbred.
“We did some market research and worked out only eight per cent of people interested in racing participated as an owner,” Ryan says.
“The affordability of high-level [racing] participation is out of most people’s reach. We thought, what if we could do something that was radically different?”
Traditionally, horse-racing syndicates cost thousands of dollars to participate in. Not so with miRunners: as we split ownership in our horses into 1000 equal parts, a $275,000 horse costs just $275 per share for a new owner.
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After you’ve paid that one-off cost, the monthly maintenance fees are just $15, and you get all the ownership benefits:
- certificate of ownership
- invitations to meet the horse
- weekly video updates from the trainer
- likely a private area to watch the horse race at the track
- a pro-rate share of any prize money
- and of course: the emotional investment of watching your horse grow, learn and race
Read the full article from SmartCompany here: “Crowdfunding for horses”: Victorian startup miRunners makes owning a champion racehorse possible
Angela Castles writes for SmartCompany. SmartCompany is the leading online publication in Australia for free news, information and resources catering to Australia’s entrepreneurs, small and medium business owners and business managers.
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