Crowdfunding is a great way for startups to raise the money they need. Getting smaller amounts of money from a larger group of people tends to be an easier task than asking a handful of people for a large sum.
In the itbusiness.ca article, they touched on the fact that Ideavibes has developed a social media platform for equity crowdfunding for startups and why ideavibes can’t launch it yet:
"But it can’t deploy that platform because Canadian law bans startups from offering equity shares."
“I believe the Canadian government is very behind in this and should be pushed harder because access to capital is a big issue.Making it easier for startups to get that money is important,”said Dombowsky, who emphasized it was tough for him to get his own company going with just $30,000 of seed money.
Founded in 2010, the industry website, Crowdsourcing.org, is a neutral organization dedicated solely
to crowdsourcing and crowdfunding. As one of the most influential and credible authorities in the crowdsourcing space,
Crowdsourcing.org is recognized worldwide for its intellectual capital, crowdsourcing and crowdfunding
practice expertise and unbiased thought leadership.