First Gear Project Launches Innovative Motorsports Crowdfunding Program

PORTLAND, Ore., Aug. 8, 2014 /PRNewswire-USNewswire/ -- In motorsports, funding is often the critical bridge between opportunity and execution. 

First Gear Project, a crowdfunding platform dedicated to the automotive & motorsports industries, will help build that bridge by establishing a platform to connect opportunity and funding via WWW.FIRSTGEARPROJECT.COM.

The site, which recently expanded from a successful beta phase to being open to the public, has been built to facilitate programs across the spectrum of the industry, from karting to drag racing, from the development of new aftermarket products to the creation of inspiring documentaries. First Gear Project will build a community, encourage new innovations and foster projects as the open marketplace of motorsports ideas meets with the support of the public, friends, family, and sponsors to turn dreams into realties. 

With a financial base built on upon the 20 year success of Vital Enterprises, an Oregon technology firm with revenues approaching $40 million, First Gear Project has been spearheaded by racing driver Guy Cosmo and his wife Louisa. 

"The opportunity to partner Vital Enterprises' vast array of engineering capabilities with Guy Cosmo's racing and Motorsport industry experience was a great opportunity," said Ryan Hoppes, President, Vital Enterprises.  "Being able to bring a new method of financing to influence further creativity, ability to self advocate, as well as provide personal connections between fan and driver within the Motorsport's realm will be exciting to witness.  We are thrilled to be a part of this shift."  

First Gear Project will give participants the opportunity to influence the future by making tangible contributions to a favorite driver or team, or convert a compelling new concept into a publicly available product with a built-in brand awareness and support system.

"This is a project of a lifetime for me, because being in the sport for so many years I've seen first hand how critical funding is," said Cosmo. "We have designed First Gear Project to not only be an opportunity for someone to transform their vision into a marketable reality but it is also a chance for backers to witness the impact of their support. It's a place for our whole community to actually participate by building programs or supporting them. We are trying to change the industry, and we and our investors believe that this is the best way to do exactly that." 

SOURCE First Gear Project