Articles

Crowd Funding

When Vasant Dhoble was wreaking havoc on the nightlife scene last year, a lot of clubs took precautionary measures. Some decided to shut earlier than usual, others limited the number of people that could enter the club. The directors at Blue Frog came up with an interesting concept to tackle the issue. They introduced a slab payment system, where bands were paid a minimum amount, and this would increase if they got more people to the club. What this essentially did is that in case the club got busted or…

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15 Simple Ways to Increase Odds of Crowdfunding Success

15 Simple Ways to Increase Odds of Crowdfunding Success

Jason Graf, CEO and Co-Founder of CrowdIt, contributed this article to BusinessNewsDaily’s Expert Voices: Op-Ed & Insights. Starting a new business isn’t easy, as many successful people will tell you. There are several reasons as to why, but the truth is one of the main reasons new businesses fail is because of a lack of funding. This is a problem that I have faced as an entrepreneur and I certainly won’t be the last. So what resources are available to overcome this challenge? Crowdfunding is an innovative way to gain…

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When crowdfunding goes wrong: how platforms handle fundraiser disputes

When Tara Reed first began her crowdfunding campaign on Indiegogo, she had high hopes that it would help her achieve her dream – to self-publish her book. In March, the Toronto-area writer launched a campaign on Indiegogo to try to get backers to support her project. Armed with perks, videos, and regular updates, her campaign goal originally started at $70,000, though it was later lowered to $40,000. Her campaign ultimately only netted her about $9,000. In a phone interview, Reed said Indiegogo treated her unfairly, adding her campaign would have…

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Crowdfunding proposal could spark Sask. startups

Saskatchewan is boldly going where no province has gone before by being the first to allow equity crowdfunding – using the Internet to raise startup capital for small businesses – without having to file a prospectus or even register as an issuer with securities regulators. But the Financial and Consumer Affairs Authority proposal to exempt equity crowdfunding from securities rules would limit fundraising to a maximum of $100,000, no more than twice a year, and limit investors to a maximum investment of $1,000. “This is a very modest proposal,” Dean…

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Benefits of crowdfunding go beyond raising cash

When Cleveland-startup Innovative Developments launched a crowdfunding campaign on Kickstarter last February, it aimed to gauge interest and generate pre-production sales for Mycestro, a wireless mouse worn on your index finger. The campaign succeeded in generating buzz, leading to coverage in publications like Wired.com and Crain’s. It also didn’t hurt that in the process it generated $354,115 from a pool of 4,010 backers. Crowdfunding is an attractive concept to companies within emerging industries whose cutting-edge technologies may not always garner early attention from traditional funding sources. As entrepreneurs in these…

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