First Gear Project Takes The Checkered Flag

This past summer, AutoRacing1 did an article on Guy Cosmo's unique crowdfunding idea, First Gear Project. Sadly, Cosmo announced over the weekend that FGP has been discontinued. Below, is a statement from the team at First Gear Project.

Just over a year ago we set out to create an open, independent crowdfunding platform to bring grassroots support and a new, creative business model to the motorsports industry. The result was First Gear Project – Crowdfunding dedicated to the Automotive & Motorsports Industries. In our first few months we drew great interest from racers and racing enthusiasts and, as intended, helped some ambitious and brave project creators successfully fund their endeavors through FGP. We are truly grateful for the wonderful community that rallied around us and are inspired by the incredible show of support that derived from this platform.

Unfortunately, after months of helping people discover news ways to raise funds in the motorsports world and connect with their community, First Gear Project will 'take the checkered flag' and come to an end. While we are saddened by this decision, we’re eager to put our hearts into exploring new ways to pull together in continued support of our beloved industry. First Gear Project will officially close on January 15th, 2015.

You may log in to your account at any time between now and January 15th, 2015 to retrieve any information from your current or past projects & profiles. However, this is not mandatory. All previous user information will remain confidential and bound to the FGP terms of service, user agreement and privacy policy.

We extend our most sincere thanks to all of you who supported FGP and wish you all the best with your future endeavors.

Sincerely,

The Team at First Gear Project.