Presentation on theme: "#2. What is Crowdfunding ? Over at Wikipedia….it’s defined as… “the collection of finances to sustain an initiative from a large pool of backers—the "crowd"—usually."— Presentation transcript:
What is Crowdfunding ? Over at Wikipedia….it’s defined as… “the collection of finances to sustain an initiative from a large pool of backers—the "crowd"—usually made online by means of a web platform... The initiative could be a non-profit campaign, a political campaign, a philanthropic campaign, a commercial campaign or a financing campaign for a start-up company…”
Big Crowdfunding Sites? Have raised more than a billion dollars….simply by asking for support!
Eric Migicovsky, a Univ of Waterloo grad could raise only $375k in Silicon Valley via VC investments…till he ran his Kickstarter Campaign in 2012! They couldn’t find any more investor support till they went directly to the marketplace itself! Pebble Pre-Order Receipt Order Number: #63260 Date: 04/23/2012 1x Pebble (Pre-Order) - Cherry Red for $115.00 each The Pebble e-Watch Backstory?
How much was the Biggest in Canada? More than $10 million raised when they only asked for $100k!
Are all the ideas of merit? A baseball cap with a lit up logo? Smart idea? The raised $55k at Kickstarter…. Honestly!
Are all the ideas of merit? Socks made of coffee? Smart idea? The raised $204k at Kickstarter…. Honestly!
Are all the ideas of merit? Doggie bad breath treatment treats? Smart idea? The raised $62k at Kickstarter…. Honestly!
What are the costs ? Simple and easy…and all automatic! It’s always free to start a Campaign… Our backend bank is Stripe who charge 2.9% of all donations…plus.30¢ per backer transaction… Our own charges are 7%...for all overheads and costs… So for a $1,000 Campaign the creator would receive $900 after all fees are deducted …paid within 10 days of completion!
Why did we create this city Builder ? And the answer to that is because if it’s one thing we’ve learned in over 40 years of “being in business” in Hamilton, it’s that every single entrepreneur is looking for funding! So we thought we would help….by developing this crowdfunding website for our own city startups to create their own funding Campaign….and to see if they can raise seed money! So anyone in Hamilton can launch a Campaign!
What are the Creator’s benefits ? Crowdfunding campaigns provide their creators with a number of benefits, beyond the strict financial gains… Profile – a compelling project can raise a creators profile and provide a boost to their reputation… Marketing – project creators can show there is an audience and market for their project. In the case of an unsuccessful campaign, it provides good market feedback... Audience engagement – crowd funding creates a form where project creators can engage with their audiences. Audience can engage in the production process by following progress through updates from the creators and sharing feedback via comment features on the project's crowdfunding page... Feedback – offering pre-release access to content or the opportunity to beta-test content to project backers as a part of the funding incentives provides the project creators with instant access to good market testing feedback…
And the end results for Hamilton ? We’ve heard startups by the hundreds complain that they just cannot find seed money to get their ideas into the MVP stage and launch! So we thought we would help….by developing this crowdfunding portal for our own local startups to create their own funding Campaigns….and to see if they can raise seed money! But we also feel that our own #HamOnt citizens, more than ¾ of a million strong, will help build our business community via their donations too!