Crowdfunding:
Published on Jun 03, 2016
No Description
MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
Crowdfunding allows people to get behind potential products which they would like to fund and eventually purchase, this gives consumers a say in what products see the light of day and helps hopeful entrepreneurs from mass producing something that no one wants.
Photo by kevin dooley
So what is crowdfunding?
Photo by LendingMemo
Crowdfunding is a novel method for funding a variety of new ventures, allowing individual founders of for-profit, cultural, or social projects to request funding from many individuals, often in return for future products or equity (6).
Photo by GotCredit
Kickstarter, the largest crowdfunding site, has covered $237 million in funding pledged to 48,526 projects (6).
Photo by MichaelTapp
Crowdfunding first became known as a way for independent artists, filmmakers and others to raise money for their projects by persuading a large number of people to make small donations through the Web. Then it caught on as a way to help launch small businesses (1).
Photo by Beantin webbkommunikation
Why is Crowdfunding the future?
Photo by JD Hancock
Crowdfunding offers opportunities which are not available through typical production methods
Photo by WA State Library
The public decides which projects are worth pursuing by fully financing them (2).
Photo by Michael Fleshman
An important barrier to commercializing new ideas is the availability of early-stage funding (7).
Photo by nathanmac87
Sites like kickstarter allow consumers to pre-purchase and thus invest in businesses of teir choosing
Photo by Robert S. Donovan
Suggestions can also be made by backers, thus changes or improvements can be done before the final product is fully produced and shipped out.
Photo by Dell's Pics
Engagement is a living entity(5). Early engagement by consumers allows for a better received end-product.
Photo by theqspeaks
In 2015, Canada ranked third in the world for Crowdfunding —. — with 1,754 campaigns an average of 24 new projects are launched each day (4).
Photo by Ian Muttoo
The projects are part of a growing trend to seek funding outside traditional sources (3).
Photo by the justified sinner
"There’s a security to knowing that if the goal isn’t met, my money doesn’t just get wasted" - Gerber M. (8)
Photo by perspec_photo88
"There’s a security to knowing that if the goal isn’t met, my money doesn’t just get wasted" - Gerber M. (8)
Photo by perspec_photo88
Over the course of the past five years, the crowdfunding industry has grown from a fringe phenomenon, allowing indie artists to monetize social capital, to a multibillion-dollar industry (9).
Photo by thebarrowboy
Now that crowdfunding has turned the corner into a mainstream fundraising mechanism, large corporations will actively look to incorporate the social ritual, and monetize the process (9).
Photo by hjl
Globally, crowdfunding grew by 167% to raise $16.2 billion in 2014, and was projected to double (again) in size to over $30 billion in 2015 (10).
Photo by kevin dooley
Sites like Kickstarter continue to grow as both entrepreneurs and consumers alike are enticed by the offerings that are only available through the process of crowdfunding. It allows for a great funding method as well as the minimization for lost costs if a project proves unsuccessful.
Photo by yonsterz
