I think the concept conceived by Late Labs is interesting.
This startup aims to connect coders to side projects rewarding them with startup equity. In order to participate to a project, you choose among the many coding tasks and each of the accomplished one awards you with equity on the project. Obtaining equity of the company means that you will be rewarded only if the startup will be successfull.
The creation process is almost crowd-driven since everyone can propose ideas to a web evangelist (hired by the company) that will choose among the different ideas. Late Labs shouldn’t be considered a way for crowsourcing some parts of the development but more like a factory where coders can decide and bring forward interesting projects (instead of working for a pre-made project).
At the moment there are not so many projects on the website but I sincerely hope that the companies will understand the interest of this platform and start using it as a way for developing projects using coders working in their free time.