Crowdfunding is fast becoming the new buzzword in small business funding. A sort of mash-up between your favorite social network and flat out begging for money, crowdfunding is the newest way to raise money quickly without borrowing or getting in bed with a venture capitalist. Success in crowdfunding has already been proven. Earlier this year a startup named Pebble set out to raise $100,000 to develop their e-paper wristwatch. Hang on to your seat. They raised $10,266,846.00 from 68929 different backers within only 60 days.
Skeptics claim that the future of crowdfunding is uncertain and riddled with obstacles and potential fraud. Be that as it may, the change that has already taken place in the small business climate with the potential for this sort of funding is an economic miracle during the worst recession in several generations. After all, funding small businesses that are the life-blood of communities should start at the community, not at a venture capital office.
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.