2,969 crowdsourcing and crowdfunding sites
In their January report, AlliedCrowds maintain that more people and governments in the developing-world woke up to the power of Crowdfunding in 2015 than ever before. Regulations for Equity-crowdfunding were enacted and/or discussed in many of the developing-nations. It appears that the many in the middle will be able to help the many at the bottom, far sooner than earlier expected. It is no longer necessary for the many to pin their hopes for help & generosity solely on the few at the top or in the government. Asia is powering the middle-class growth which by 2030 will grow globally from the current 2 to nearly 5 billion people. With the power of Crowdfunding, the developing-world can catch up with the developed-world at much faster rate.
Crowdfunding is booming globally, from nothing in 2009 to around $35b globally in 2015, the graph is going straight up. The developing-nations’ slice of this huge 2015 figure, though fractional currently at just $430m, is going to grow by 53% in 2016. There will be more ideas, people & causes in need of Crowdfunding in the developing-world along with more funders thanks to the growing middle-class. Crowdfunding in the developing-nations is today where the developed-nations were around 5 years ago – about to take off to high, very high skies.
The Sustainable Development Goals (SDGs) are the new expanded version of the old Millennium Development Goals (MDGs). Each of the 17 goals and the estimated $2.5 trillion funding-gap can get a boost through Crowdfunding.
The Developing-world’s Trailblazers in 2015:
2015 saw $23m being raised in quick time for the Nepal relief. The year also saw a heart-warming story about how the picture of a refugee – Abdul Halim al-Attar, holding his little daughter in one hand and some pens to sell in the other, standing distraught in the street, went viral on Twitter. A person operating a strong Twitter account with 10k followers spotted this picture floating around, related to it as he was a father himself, gave it the required push to go viral and also helped with the Crowdfunding campaign, ensuring a huge amount reached the distraught man despite all the obstacles. The distraught man-on-the-street is now running 3 shops employing many other refugees like him.
Lending and Donation categories constituted over 80% of the total amount Crowdfunded in developing-nations. But the Equity Crowdfunding category will grow at a faster pace than the total average. SMEs are the biggest contributors to increasing employment in the developing-nations. Developing new ways for them to raise capital and funds will cause exponential ripples of growth. 2016 promises to really demonstrate the meaning of “Prosperity through Crowdfunding”.