Entrepreneurs have crowdsourced their way to fund everything from new restaurants, apps and film projects. But how about a new airline?
Odyssey Airlines Limited is hoping to raise £1 million ($1.7 million USD) by mid-June to get off the ground and become the first business class jet to operate non-stop, transatlantic flights from London City Airport.
Posted on Crowdcube, the concept was born from the frustration of having to deal with airport congestion, long lines, and "all the other aggravation that comes with traveling through a major airport," explained CEO Adam Scott in a video.
With the delivery of a Bombardier CSEries jet -- a more fuel-efficient and greener aircraft -- the airline will be able to bypass the rules and regulations that restrict larger commercial planes from operating out of London's city center, and help business travelers and jetsetters shave up to an hour and a half from their traditional airport commute, claims the airline.
Currently, London City Airport services destinations within Europe.
The plane will be configured to transform the 110-place standard seating into 40 fully lie-flat seats.
Initial plans are to start flying to New York in 2016, with potential expansion to Toronto, Washington, Boston, Chicago, the Middle East, and underserviced cities in Europe.
Thirty-four days before deadline, the pitch has raised over £287,000 (over US$485,000) from over 80 investors.
Odyssey isn't the first in the aviation industry to try and drum up public funding.
Boston-based Spike Aerospace also posted its project to build a next-generation, supersonic windowless jet on Indiegogo, but failed to raise the desired $250,000 USD.
For more details on Odyssey, visit http://www.flyody.com/.