Keynote - Best practices building a national Crowdfunding ecosystem

Originally, crowdfunding represents an ancient phenomenon, (Best, 2013) during which kings or religious leaders raised funds among the population to finance projects such as the construction of and maintenance of places of worship and/or crusades. 

A NEW PHENOMENON?

Joseph Pulitzer who used Donation-based Crowdfunding for the construction of the pedestal of statue of liberty in 1885.   A financial contribution in return for having their names published in his newspaper. It was a remarkable fit, when after 5 months; US$102,000 was reported to have been contributed. What is more remarkable is that majority of the donors donated less than US$1 (Harris, 1986).    

MODERN CROWDFUNDING

Crowdfunding is known as the practice of raising small amount of money from each investor of a large community of investors. The approach is used to expand pool of investors and encourage entrepreneurial behaviours in the society (Moysidou and Spaeth 2016)

CURRENT DEFINITION: 

“Crowdfunding refers to

contributions to a campaign

by a large number of capital

providers for the exploitation

of a potential project, which

may or may not involve some

form of return to the

contributors.

PROPOSED DEFINITION: 

SOURCE: DRAFT OF AN INTERNAL DEFINITION OF CROWDFUNDING DEFINITION (IN EXCHANGE WITH KARL WENNBERG) 

GROUP 8

GROUP 10

UMBRELLA TERM

WHAT DO YOU PITCH? 

TEAM, STORYTELLING,

MISSION, PURPOSE,

VISION, BUSINESS PLAN

RETENTION, TRACTION,

TRAFIC SOURCES,

DELIVERY SO FAR, DATA,

DATA, DATA

FREE ACCESS, Q4 2017