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What Is Crowdfunding?
Crowdfunding (also called crowd financing or crowd sourced capital), inspired by crowdsourcing, describes the collective cooperation, attention and trust by people who network and pool their money together, usually via the Internet, in order to support efforts initiated by other people or organizations. Crowdfunding occurs for any variety of purposes, from disaster relief to citizen journalism to artists seeking support from fans, to political campaigns.
Benefits
Benefits include involving a community right up front in the design and then management of a new product or company, not giving up direct investment control to a single or tightly knit group of investors and transferring risk of development to a community. Organizations will have more access to committed resources, talent and ideas.
How does it work?
