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Crowdfunding: how people are changing the face of funding

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Matt Eng
Matt Eng

The document discusses the rise of crowdfunding as a way for creators to fund projects. It notes that over $5 billion was raised worldwide for crowdfunded projects in 2013, with the most popular types of projects being social causes, entrepreneurship, film/art, music and the environment. The document also highlights that grassroots marketing and peer-to-peer communication are important for successful crowdfunding campaigns, and that millennials are the most likely generation to donate to projects and non-profits.

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// The NEW Medium | How people are changing the way projects are funded By Matthew Eng Image by Rocio Lara (flickr)
crowd揃fund揃ing kroudfndiNG Noun the practice of funding a project or venture by raising many small amounts of money from a large number of people Image by Simon Cunningham (flickr)
Image by Martin Hajek (flickr) The Pebble Smartwatch, by Pebble Technologies, was given $10,266,845 in donations, exceeding their goal by 10,266% (source: Kickstarter)
The Veronica Mars Movie, based on a TV show, garnered $5702,153 in donations, exceeding their goal by 285% (source: Kickstarter) Image by Joits (flickr)
Image by Colbrain (flickr)
giving the creat full creativity over the project. Image by Linus Bohman (flickr) Creativity requires the courage to let go of certainties. - Erich Fromm
People who believe in the vision will aid financially to the development of the final product. You better make them happy though! Image by Rick Turoczy (flickr)
Crowdfunding will become the most widely used platform for major & minor project funding within the next 5 years. Image by Brian Cypher (flickr)
How are creators responding to this trend? Image by Alex Barth (flickr) So far
1,000,000+ successful campaigns were made in 2012, 81% higher than 2011 Image by Steve Wilhelm (flickr)
$5.1 billion in funds were raised worldwide for crowd- funded projects in 2013. Image by Sandor Weisz (flickr)
Image by Eric Fischer (flickr)
How big of a scale should I set for my project? Image by Jon Lee Clark (flickr)
The average successful campaign is approximately $7000 and lasts 9 weeks. However Image by Jason Hargrove (flickr)
Image by Bill Abbott (flickr)
What type of project should I choose? Image by Brian Hillegas (flickr)
The most popular type of project is a social cause (30%). Others include entrepreneurship (16.9%), film/art (11.9%), music (7.5%), and environment (5.9%). However Image by Kathryn Harper (flickr)
Start something you enjoy! Your passion with spread towards others and will create interest in your project. Image by Rex Hammock (flickr)
A successful campaign requires grassroots marketing and peer-to-peer communication (its attractive to millenials). Image by Ed Yourdan (flickr) Most likely generation to donate to nonprofits and projects
Image by @Doug88888 (flickr) Millions of startups have been brought to life through crowdfunding platforms, and it will only increase going forward. Will you be a part of the revolution?
Sources: Anderson, T. (n.d.). Kicking Ass & Taking Donations: 9 Tips on Funding Your Kickstarter Project. 99U. Retrieved May 23, 2014, from http://99u.com/articles/7143/kicking-ass-taking-donations-9- tips-on-funding-your-kickstarter-project Burma, D. (n.d.). Crowdfunding Trends and Statistics Infographic. CrowdMapped. Retrieved May 23, 2014, from http://www.crowdmapped.com/crowdfunding-trends-and-statistics/ Grant, R. (2013, April 24). Crowdfunding vs. seed funding: All money is not created equal. VentureBeat. Retrieved May 23, 2014, from http://venturebeat.com/2013/06/24/ crowdfunding-vs-seed-funding-all-money-is-not-created-equal/ Why Millennials Are the Ideal Target Market for Crowdfunding. (n.d.). www.crowdsourcing.org. Retrieved May 23, 2014, from http://www.crowdsourcing.org/editorial/why-millennials-are- the-ideal-target-market-for-crowdfunding/31988 All images featured are under the Creative Commons license from flickr.com

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Crowdfunding: how people are changing the face of funding

  • 1. // The NEW Medium | How people are changing the way projects are funded By Matthew Eng Image by Rocio Lara (flickr)
  • 2. crowd揃fund揃ing kroudfndiNG Noun the practice of funding a project or venture by raising many small amounts of money from a large number of people Image by Simon Cunningham (flickr)
  • 3. Image by Martin Hajek (flickr) The Pebble Smartwatch, by Pebble Technologies, was given $10,266,845 in donations, exceeding their goal by 10,266% (source: Kickstarter)
  • 4. The Veronica Mars Movie, based on a TV show, garnered $5702,153 in donations, exceeding their goal by 285% (source: Kickstarter) Image by Joits (flickr)
  • 5. Image by Colbrain (flickr)
  • 6. giving the creat full creativity over the project. Image by Linus Bohman (flickr) Creativity requires the courage to let go of certainties. - Erich Fromm
  • 7. People who believe in the vision will aid financially to the development of the final product. You better make them happy though! Image by Rick Turoczy (flickr)
  • 8. Crowdfunding will become the most widely used platform for major & minor project funding within the next 5 years. Image by Brian Cypher (flickr)
  • 9. How are creators responding to this trend? Image by Alex Barth (flickr) So far
  • 10. 1,000,000+ successful campaigns were made in 2012, 81% higher than 2011 Image by Steve Wilhelm (flickr)
  • 11. $5.1 billion in funds were raised worldwide for crowd- funded projects in 2013. Image by Sandor Weisz (flickr)
  • 12. Image by Eric Fischer (flickr)
  • 13. How big of a scale should I set for my project? Image by Jon Lee Clark (flickr)
  • 14. The average successful campaign is approximately $7000 and lasts 9 weeks. However Image by Jason Hargrove (flickr)
  • 15. Image by Bill Abbott (flickr)
  • 16. What type of project should I choose? Image by Brian Hillegas (flickr)
  • 17. The most popular type of project is a social cause (30%). Others include entrepreneurship (16.9%), film/art (11.9%), music (7.5%), and environment (5.9%). However Image by Kathryn Harper (flickr)
  • 18. Start something you enjoy! Your passion with spread towards others and will create interest in your project. Image by Rex Hammock (flickr)
  • 19. A successful campaign requires grassroots marketing and peer-to-peer communication (its attractive to millenials). Image by Ed Yourdan (flickr) Most likely generation to donate to nonprofits and projects
  • 20. Image by @Doug88888 (flickr) Millions of startups have been brought to life through crowdfunding platforms, and it will only increase going forward. Will you be a part of the revolution?
  • 21. Sources: Anderson, T. (n.d.). Kicking Ass & Taking Donations: 9 Tips on Funding Your Kickstarter Project. 99U. Retrieved May 23, 2014, from http://99u.com/articles/7143/kicking-ass-taking-donations-9- tips-on-funding-your-kickstarter-project Burma, D. (n.d.). Crowdfunding Trends and Statistics Infographic. CrowdMapped. Retrieved May 23, 2014, from http://www.crowdmapped.com/crowdfunding-trends-and-statistics/ Grant, R. (2013, April 24). Crowdfunding vs. seed funding: All money is not created equal. VentureBeat. Retrieved May 23, 2014, from http://venturebeat.com/2013/06/24/ crowdfunding-vs-seed-funding-all-money-is-not-created-equal/ Why Millennials Are the Ideal Target Market for Crowdfunding. (n.d.). www.crowdsourcing.org. Retrieved May 23, 2014, from http://www.crowdsourcing.org/editorial/why-millennials-are- the-ideal-target-market-for-crowdfunding/31988 All images featured are under the Creative Commons license from flickr.com