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Togather.Asia is the Asian Kickstarter plus IndieGoGo hybrid that services the regional crowdfunding gap

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Togather.Asia is the Asian Kickstarter plus IndieGoGo hybrid that services the regional crowdfunding gap
By Joanna Yeo | July 20, 2012 | ASIA
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Faced with initial difficulties while raising funds to have their first book published in print, Bryan Ong, Mark Cheng and Jake Ong saw this an opportunity to create a platform that will help to more individuals in Asia realize their own exciting projects by providing them with crowdfunding site, ToGather.Asia. I got in touch with Bryan, CEO and Founder of ToGather.Asia as well as author of motivational book „It‟s I‟MPOSSIBLE‟ to find out more about this YES! funded Asian Kickstarter site. ToGather.Asia is the Asian Kickstarter Togather.Asia is the first Asian crowdfunding platform that enables creative individuals to get their ideas started and funded by offering rewards in return for to those that pledge with a small monetary amount. First made popular in the United states by sites such as, Kickstarter and Indiegogo, the founders decided to bring the concept of online crowdfunding over to cater to the Asian community‟s interest. “Local crowdfunding platforms based in Asian countries are seeing a rising trend of project creators and pledgers based in Asia. Furthermore, existing major crowdfunding sites are largely dominated by projects based in the US or European countries,” says Bryan. With this two observations, the team came to a conclusion that there is a crowdfunding gap in Asia that needs to be filled. With that in mind, ToGather.Asia was set up to focus on projects based in Asia. For a start, ToGather.Asia‟s features and mechanics are pretty similar to Kickstarter and IndieGoGo. ToGather.Asia uses Paypal as their official payment system and adopts a „keep-what-you-raise funding‟ model that was inspired by IndieGoGo. As the name implies, keep-what-you-raise means that even though the funding goal of 100 percent might not be reached at the end of the campaign

period, if the project creator confirms that the money raised is enough to realize the promised rewards, the money still changes hands to the project creators. Apart from the similarities in features and mechanics, Bryan adds that the only differentiation at this moment is the targeted geographic region and the nature of projects stemming from the many countries in Asia.

The Asian mentality towards crowd funding From the perspective of project creators, Bryan thinks that majority of Asians are still pretty unaware of crowdfunding. Thus outreach, awareness and education is important for the project creators in Asia. There is also the misconception where project creators are afraid that their ideas will be stolen once they list their project up on a crowdfunding platform. As for pledgers („crowd funders‟), the team felt that at this point in time, where crowdfunding is beginning to take its root in Asia, Asians are more conservative and skeptical in putting their money to help support another person‟s project. A lot of confidence needs to be built through transparency and traction. However, the team is confident that with time, there will be more Asians who are willing to pledge to crowdfunded projects.

Plans ahead for ToGather.Asia Asia is a very big market. For now, the team is only targeting a few countries and slowly acquiring users and project creators. To achieve this, the team is working very hard to actively reach out and target local communities in these countries. ToGather.Asia has also recently partnered with Figure8 agency, a company that focuses on bringing Southeast Asian music bands to the international spotlight, to help a critically acclaimed Indonesian indie music band realize their mini-concert tour in Europe. Since then, the company has raised US$510 from 23 pledgers in six days. Although its still a distance away from their funding goal, the team felt that this is a good start for crowdfunding in Asia.

Summary Faced with initial difficulties while raising funds to have their first book published in print, Bryan Ong, Mark Cheng and Jake Ong saw this an opportunity to create a platform that will help to more individuals in Asia realize their own exciting projects by providing them with crowdfunding site, ToGather.Asia.

Description From the perspective of project creators, Bryan thinks that majority of Asians are still pretty unaware of crowdfunding. Thus outreach, awareness and education is important for the project creators in Asia. There is also the misconception where project creators are afraid that their ideas will be stolen once they list their project up on a crowdfunding platform.

Tags: crowd funders, Crowdfunding, Crowdsourcing, IndieGoGO, Kickstarter, Pledgers, project creators, ToGather Asia

Posted by Jayne Ann

Jul 20, 2012 01:30 pm GMT Viewed 595 times

Author: Joanna Yeo Source

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Togather.Asia is the Asian Kickstarter plus IndieGoGo hybrid that services the regional crowdfunding gap

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