As promised, with this blog post I’m going to dig a little deeper into a business funding option that is very exciting and innovative…Crowd Funding.
Crowd Funding is a fantastic place for startups to investigate raising money for their product, service or cause. It can be broken down into two broad categories:
- Money for Goods – this option is when money is given in return for actual goods or services
- Hyper-Funding – this option deals with interest bearing loans or investment with equity
Below is a brief explanation of the two types of Money for Goods “plans”, followed by a list of Crowd Funding sites (many accompanied by descriptions taken from the website).
Money for Goods (MfG) –
- All or Nothing (AoN) – With this plan, when the pre-determined fundraising period is over, the money is only transferred from the contributors to the entrepreneur if his or her specific goal is met. If the goal is not met, then contributions are automatically refunded.
- Keep it All (KiA) – This funding choice stipulates that whether the project goal is met or not, all of the monies collected (minus the site’s commission) are handed over to the entrepreneur. If the funds raised are insufficient to meet the goal of the startup, then the recipient is responsible for refunding contributions.
Money for Goods Sites –
All or Nothing (AoN)
Fundageek (crowd funding platform for commercial projects based on technology, scientific research projects at universities and research institutions, inventions, education, outreach and community support)
FundedByMe (great way for entrepreneurs, artists, filmmakers, musicians, designers, writers, illustrators, explorers, curators, performers, and others to bring their projects, concepts, ideas and dreams to life)
Funding4Learning (crowd funding platform that helps students raise financial resources enabling them to pursue their studies and achieve success)
Loudsauce (lets people raise funds to amplify videos on national TV and online to create tangible impact)
Microryza (online platform that let’s you discover new research, support the research you think is important, and then connect with scientists)
Mobcaster (gives aspiring and experienced TV makers a platform to fund, broadcast and monetize their TV shows)
PleaseFund.Us (a risk free way for people to raise money to fund their creative projects and ideas)
Pozible (developed for artists, musicians, filmmakers, journalists, designers, social change makers, entrepreneurs, inventors, event organizers, software developers and all creative minded people to raise funds, realize their aspirations and make a great things possible)
START.ac (crowd funding to make a home for gadgets, startup businesses and technology products; makes crowd funding for creative projects and great ideas more fun)
Keep it All (KiA)
ArtistShare (a platform that connects creative artists with fans in order to share the creative process and fund the creation of new artistic works)
Gogetfunding (launch your personal fundraising website and accept donations for any cause, project, event or charity)
Kapipal (raise money for projects, presents, group purchases, charity, and any other dream)
Peerbackers (an online funding platform that allows business owners to raise capital from their “peers” – in small increments – in exchange for tangible rewards to those who contribute)
PledgeMusic (takes a direct-to-fan approach, inviting fans behind the scenes and into the intimate process of making and releasing new music)
RocketHub (a destination for emerging artists, scientists, entrepreneurs, philanthropists, and those who wish to discover and support innovative work)
I hope you’ll take some time to investigate appropriate sites from this list that might be viable for helping with the funding of your business, and let me know if you decide to set up a fundraising campaign with any. In my next post, I’ll talk more about some of the other top crowd funding sites.