Philippine crowdfunding site Medifund turns non-profit to help medical students finish their studies

By VCPOST Staff Reporter

Mar 31, 2014 04:53 PM EDT

Crowdfunding site Medifund has relaunched as a non-profit entity to support medical students' education. The site wants to help the Philippines, Indonesia, Nigeria, and other developing countries produce more doctors, according to TechCrunch.

Founder Jossy Onwunde explained: "We have had the opportunity to meet a few investors and they all care about how much they would make. I don't blame them because that's what they do. But for us, we are not in the same page as we don't care about how much we could make with this."

Medifund is now eyeing other ways of covering the cost of medical education. Micro-loans and student earning schemes are among the ways being eyed by the company. As of now, the platform is raising funds to support the education of nine medical students from four different countries. Another goal of the site is to encourage more women to enter the medical profession, the report detailed.

Medifund makes sure that students who are being supported by the platform are deserving of the assistance. For this reason, those who sign up for the site have to post videos, financial statements, transcripts, and other school papers as proof of their dedication to their schooling, TechCrunch reported.

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