HASSELT, 6 DECEMBER 2011. The investment company LRM, in partnership with Stroominvest, will invest 250,000 euros in Mookum. This allows founder Gert Gijbels to provide consumers, designers, and manufacturers with a unique online platform for the joint creation of new products; "crowdsourced" product development.
New platform for product development
Gert Gijbels has been a part of many juries for product designers. And he has often come to the conclusion that the students or designers have no idea how to market their concept or product in the future. From this finding, the Mookum-concept was born.
Mookum creates a world of innovative design & lifestyle products, which are perfectly tailored to the needs of today's consumers. To this end, Mookum created an online platform, www.mookum.com, where consumers can launch their ideas or needs and challenge designers to develop a new product that meets these ideas or needs. This process is also known as "crowdsourcing". Designers who accept the challenge can submit their solution online, and the consumers then judge the submissions by voting on their favourite one. In cases of sufficient demand, Mookum will approach manufacturers, and the product will be offered through the website.
Collaboration between consumers, designers, and manufacturers
This way, the consumer creates a solution for his/her problem, and is at the cradle of new innovations and the development of new products. Furthermore, he/she will often have the chance to enjoy “limited editions”. By purchasing the products, he/she will also help in launching the careers of young design talents.
For designers, Mookum is an additional channel to show their expertise and make a stronger name for themselves. Especially for young designers, who still have yet to make a name for themselves and become known, Mookum is an interesting opportunity. Unsurprisingly, several educational institutions including MAD faculty, PHL Architecture, and Lessius University are willing to collaborate with the Mookum-concept.
Mookum also works together with some top Belgian designers, such as Vittorio Simoni, Wim Segers, Frans Hegge, and Roel Vandebeek. If the winning design achieves the production phase, a royalty agreement will be drawn up with the designer.
All of this makes 'Mookum' more than just an online shop. It is a platform where designers and consumers meet. Ultimately, Mookum wants to become a truly collaborative platform between client, designer, and manufacturer.
“Mookum” solutions are available through the website www.mookum.com from 15 December 2011.
Additional resources for entrepreneurship and creativity
To help establish 'Mookum', LRM, the Limburg Investment Company, will invest 200,000 euros through a Plus-loan. Furthermore, Stroominvest will also invest 50,000 euros in this new, creative player. The additional funds will be used to launch Mookum, to start product development for the new designs, and to increase brand awareness of Mookum.
Gert Gijbels, Mookum: “Thanks to the funding of LRM and Stroominvest, we can launch a new and innovative concept. The additional funds are an incentive to entrepreneurship, and the development of creative industries.”
Stijn Bijnens, General Director of LRM: “Social media is not only omnipresent in our daily lives, but also gaining an increasing importance in an economic context. Mookum is responding to this trend by developing an innovative business model with an active consumer involvement. The resources of LRM thus contribute to the development of innovative ideas in new market segments.”
Joeri Stoop, Investment Manager of STROOMinvest: “Mookum believes in cross-discipline fertilization and achieves this by playing a facilitating role between the client and the designers with whom it works. This collaboration results in creative and innovative solutions and unique products.
For STROOMinvest, the link between the creative talent in Limburg and entrepreneurship is crucial. The initial collection is the work of several top designers from Limburg. However, young designers also get a first test lab and audience. To this end, Mookum has launched a Design Award, in collaboration with the Media, Arts & Design Faculty in Genk. This unique experience will perhaps inspire a few of them to start their own businesses.
About Mookum
How does it work in practice?
The interaction between customer, designer, and Mookum works in 5 steps.
(1) Via www.mookum.com, the consumer can upload his/her problem
(2) Mookum launches a “Design Challenge” for house designers and young talents based on the best definitions of the problem.
(3) The designers can submit their solutions for the problem through the website.
(4) An internal jury will make a selection of the designs, and places them on the website so that the customer can decide by voting.
(5) The customer can register to buy the design. The products will be manufactured if there is sufficient demand.
About STROOMinvest
STROOMinvest is the cultural investment fund in Limburg that provides subordinated loans to Limburg-based cultural entrepreneurs seeking business financing and who show a clear market and profit potential. Creative talents who want to progress and start a business can also count on some financial backing. In addition to the financial incentive and leverage, STROOMinvest also provides tailored coaching and guidance. This way, STROOMinvest contributes to the cultural and economic development of Limburg as a creative region.
For more information, you can visit the website at www.stroominvest.be
Further information
Mookum
Gert Gijbels
M +32 486 502 202
E gert.gijbels@mookum.com
URL www.mookum.com
LRM
Jeffrey Alenus
Commercial Director
T +32 11 24 68 19
M +32 475 93 03 61
E j.alenus@lrm.be
STROOMinvest
Joeri Stoop
Investment Manager
T +32 11 21 49 64
M +32 478 20 70 18
E joeri.stoop@stroominvest.be