Wednesday, 4 April 2012

| Crowdfunding |

Crowdfunding
This is a new term I heard about recently in a design and the market lecture. It has something to do with obtaining 'free money'... *ears perk up* So what is crowdfunding? It describes the collective cooperation, attention and trust by people who network and pool their money together, usually via the Internet, in order to support efforts initiated by other people or organizations. Crowdfunding occurs for any variety of purposes, from disaster relief to citizen journalism to artists seeking support from fans, to political campaigns.

Pros - Allows good ideas which don't fit the pattern required by conventional financiers to break through and attract cash through the wisdom of the crowd.

Cons - There is a risk that your idea could be copied.

Kickstarter is the world's largest funding platform for creative projects. Unfortunately it is a US resident based website so from UK we can't pledge, however there are equivalents where we can, one being Bloom VC.  Here is an example of what the Kickstarter website looks like and below is the link to follow this exact project that I found interesting:

http://www.Kickstarter.com/projects/855802805/lowline-an-underground-park-on-nycs-lower-east-sid?ref=live


This may be of interest in the future if you would like help for start up funds/free money to get you places, if you get right people (the crowd) behind you they may be able to help you get there. 

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