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Meggan Van HarteFinancial Management Assignment30 July 2018
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TABLE OF CONTENTS
INTRODUCTION ……………………………………………….……………..….….……3
TYPES OF CROWDFUNDING …..…………………………….………………….….…3
Reward – Based crowdfunding ………………………………………….………..…….…3
Value – Based crowdfunding ……………………………………………………………….3
Credit – Based crowdfunding ………………………………………………….……….…..3
Gift – Based crowdfunding…………………………………………….……………….….. 4
PROS AND CONS OF CROWDFUNDING ………………………..………………..…4
High project visibility……………………………………………………………….……..…4
Financial specialist commitment ………………………………………………………………4
The obstruction to section is low …………………………………………………..….…..4
Basic criticism ………………………………………………….………………………….…4
Protected innovation hazard …………………………….……….……………….………..5
USING CROWDFUNDING FOR START-UP BUSINESSES ……………………..……5Achievement Rates …………………………………………………………………….…..5
Effective Crowdfunding Techniques……………………………..…………………..……5
Plan Ahead of Time …………………………………………………………………..….…6
Get Help ………………………………………………………………………………………6
Characterize an Audience ……………………………………..…………………….…..…6
Have a Revolutionary Idea …………………………………………………………..……6
Spotlight on Marketing ……………………………………..……………………..…..……6
Idealize Your Video ……………………………………………………………………..….6
Contribute the Time………………………………………………………………..………..6
THE BIG BENEFITS OF CROWDFUNDING ……………………………….……….…7
It’s more proficient than customary raising support. …………………..………….…….7
It’s a place to manufacture footing, social, verification, and approval. ….…………….7
It’s an open door for crowdsourced conceptualizing to refine your thought…………. 7
It picks up you early adopters and steadfast backers. ………………..…….……….….8
It pairs as showcasing and media presentation………………………………..…..…….8
EFFECT ON LOCAL ECONOMIES ………………………………………..………..8, 9
EFFECT ON INTERNATIONAL / GLOBAL ECONOMIES .…………….……….9, 10
FINDINGS ……………………………………………….…………..…….. 11, 12, 13, 14
INDEX …………………………………………………………………………….……….15
REFERENCES …………………………………………………………………………..16
ANNEXURES …………………………………………………………………17,18,19 20
INTRODUCTION
Crowdfunding is a strategy for gathering numerous little commitments, by methods for an on the web subsidizing stage, to fund or underwrite a well-known venture. Crowdfunding picked up footing in the United States when Brian Camelio, a Boston artist and PC developer, propelled Artist Share in 2003. It began as a site where performers could look for gifts from their fans to deliver advanced chronicles, and has developed into a raising money stage for film/video and photography extends and additionally music.

Artist Share’s first crowdfunding venture was Maria Schneider’s jazz collection “Show in a Garden.” Schneider offered a layered arrangement of prizes. For a $9.95 (R130, 84) commitment, for instance, a benefactor got the chance to be among the main clients to download the collection upon its discharge in 2004.

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Fans who contributed $250 (R3 287, 50) or more (notwithstanding getting a collection download) were recorded, in the booklet that went with the collection, as members who “made this account conceivable.” One fan who contributed $10,000 (R131 500) was recorded as official maker. Schneider’s Artist Share crusade raised about $130,000 (R1 709 500), empowering her to form the music, pay her performers, lease a substantial chronicle studio, and deliver and advertise the collection (it was sold only through the Artist Share site), which won a 2005 Grammy Award for best expansive jazz group collection
KINDS OF CROWDFUNDING
There are a wide range of crowdfunding destinations covering a wide assortment of interests and enterprises. Yet, they can be assembled into four fundamental writes:
Reward – Based crowdfunding
Financial specialists are offered a reward in return for subsidizing. On the off chance that the task is new programming, financial specialists may get a free duplicate of it. Or then again they could get something like constrained version stock.
Value – Based crowdfunding
Speculators get unlisted organization partakes in return for their vowed cash. This is winding up more well-known because of speculation limitations in a few nations evolving. The JOBS Act has made this less demanding in the US.
Credit – Based crowdfunding
Gatherings of individual moneylenders are placed in contact with organizations that need to get cash. This resembles to distributing loaning, however for organizations rather than people.
Gift – Based crowdfunding
This kind of crowdfunding is intended for foundations, or the individuals who fund-raise for social or altruistic ventures, to assemble a network on the web and to empower them to give to an undertaking.
While most settled philanthropies arrange this through their own particular site, crowdfunding stages can be helpful for littler associations and individuals fund-raising for individual or particular magnanimous causes.

THE PROS AND CONS OF CROWDFUNDING
The essential thought of group financing is clearly engaging – and mainstream. The points of interest include:
High project visibility
You don’t need to function as elusive individuals who may be keen on your thought. Crowdfunding gets you moment reputation – and the consideration of thousands of potential financial specialists.
Financial specialist commitment
Individuals can make inquiries and draw in with you on swarm financing sites. It’s a decent method to develop a network before you even start chipping away at your undertaking.
The obstruction to section is low
In the event that you seek crowdfunding sites, there are a wide range of strange and great activities. At the point when there’s no bank administrator to persuade, discovering financial specialists is not any more an issue.
Basic criticism
Not certain whether your task can succeed? Crowdfunding your business thought is a speedy method to discover. In the event that your undertaking picks up a ton of intrigue, it has a decent shot of accomplishment. Be that as it may, ponder the potential drawbacks previously you take a stab at crowdfunding. A portion of the drawbacks include:
Protected innovation hazard
By distributing your thought on an open gathering, you could lose control over your protected innovation. Ensure you record any fundamental licenses, trademarks and copyright printed material before you begin. Else somebody could take your thought
USING CROWDFUNDING FOR START-UP BUSINESSES
Achievement Rates
An excessive number of individuals start a crowdfunding effort without appropriate arrangement. Kickstarter reports that in excess of 200,000 reward-based undertakings were begun a year ago, which is confirmation of its notoriety. Notwithstanding, just around 40 percent of those undertakings really got financing, and that is not including the 20 percent of tasks submitted to Kickstarter that were rejected, or the a huge number of value based ventures submitted to other crowdfunding sites.
In any case, 30-40 percent is a fair number to pass by while considering the advantages of a crowdfunding effort. The measurements more probable demonstrate that crusades are coming up short since individuals start them without the best possible information of how to prop them up, as opposed to showing that crowdfunding it doesn’t work.
Effective Crowdfunding Techniques
All things considered, crowdfunding can be effective for the individuals who know the best possible way to deal with take with their battle. The 30-40 percent of organizations who have discovered achievement hold fast to an assortment of strategies for crowdfunding achievement. In spite of the fact that strategies will change marginally no matter how you look at it, most will have a couple of things in like manner. Here are a portion of the methods fruitful crowd funders have utilized as a part of the past.

Plan Ahead of Time
Beginning a crowdfunding effort isn’t as basic as posting your battle on a crowdfunding site. It takes abundant arrangement. When all is said in done, plan to burn through one to two months in anticipation of your crusade, in which you hash out everything about requirement for progress.
Get Help
Regardless of whether this isn’t your first crowdfunding try, you can simply profit by a lift from experts, especially in case you’re playing out a value based crusade. Without appropriate direction, you won’t not perceive when speculators are exploiting you in the measure of value they ask.
Search for a site that will accomplish more than just host your crusade; one that will enable you to consummate your battle and guide you as you look for speculators, for example, Our Crowd, which was hailed by The Huffington Post as the crowdfunding stage that may be “ostensibly the best platform… regarding genuine assets raised.”
Characterize an Audience
Effective crowd funders know precisely who their group of onlookers is and showcase straightforwardly to them. Your crowd will be included companions and enthusiasts of your undertakings, and you
Can fan out to significantly more benefactors from that point. Without a crowd of people at start up, achievement will be a troublesome accomplishment.
Have a Revolutionary Idea
Speculators get a kick out of the chance to see new, crisp thoughts that either offer noteworthy innovation, or an extensive headway of existing innovation. Ensure your thought can possibly be worth millions previously you begin requesting the subsidizing.
Spotlight on Marketing
A few battles will pull in flies like nectar, yet crowdfunding isn’t one of them. It takes a lot of advertising to contact a crowd of people sufficiently wide to pick up financing. Effective crusade showcasing requires exemplary advertising systems, including individual contact, publicizing, email promoting, web based life advancements, and substantially more – with consistent steadiness to your motivation.
THE BIG BENEFITS OF CROWDFUNDING
It’s more proficient than customary raising support.
When you’re a beginning period organization concentrated on building your business and pulling in seed capital, you won’t not have the capacity to bear the cost of constantly and consideration that seeking after conventional financing requests. Contrasted with applying for a credit or searching out certify financial specialists yourself, setting up a fruitful crowdfunding effort on Fundable or another stage is unquestionably productive and compelling in getting your message out to the correct individuals. With the correct stage, you can recount your business’ story; create a brisk video, set up some alluring prizes, and advantage from having everything in one brought together area where potential patrons can discover you.
It’s a place to manufacture footing, social, verification, and approval.
A solid, profoundly noticeable crowdfunding effort can give approval and social confirmation that is crucial in graphing your way ahead. At the point when potential clients indicate enthusiasm for your start up’s item or administration, you’ve produced social confirmation—showing that other individuals put stock in what you’re doing. Once early adopters vet and get tied up with your thought, others will probably go with the same pattern. Social confirmation is converted into footing—regardless of whether it’s an extensive number of patrons, pre-requests, or media consideration—that is important as you pitch to different financial specialists
It’s an open door for crowdsourced conceptualizing to refine your thought.
Hear your eventual sponsor jabbing gaps in your strategy for success or making some extreme inquiries? Take it in walk and acknowledge it as free, crowdsourced conceptualizing. The premise of a start-up is discovering some vital, neglected need that your clients have, and choosing to be the one to make a move. In this manner, it’s imperative to grab any open door for client input and think about it in arranging your start up. A biggest aspect concerning crowdfunding is the means by which close it gets you to your clients, allowing you to draw in them and field questions, protestations, input, and thoughts. You never know—your organization’s next extraordinary thought could originate from some individual who isn’t even on your finance.
It picks up you early adopters and steadfast backers.
The general population that power your thought’s social confirmation are your initial adopters and potential brand advocates. They’re the general population who have confidence in your story, item, or administration, enough to stake their cash on its life span and long haul achievement. These early adopters are vital to the accomplishment of your crowdfunding effort and the force you keep in the wake of shutting, being the ones destined to impart your vision to loved ones and advance it through their informal organizations.

It pairs as showcasing and media presentation.
Press scope will make more eyes on your crusade and make enduring brand mindfulness for your start up. This can come as a component story on a mainstream news station, blog, or print production, and is an incredible method to acquire patrons outside of your own system. A decent component story or Twitter say can make an intense snowball impact, placing you in contact with significant speculators you won’t not have generally come to. Regardless of whether they read about your new item on a mainstream blog or catch wind of your creative crusade from a companion, an effective crowdfund is an incredible method to catch new financial specialist intrigue.
Crowdsourcing has developed into a phenomenal route for business people and beginning period organizations to approve their business, discover capital and early adopters, and get the introduction they have to develop. To recap, the absolute most great ways a crowdfunding effort can help assemble more startup energy than other financing techniques are:
oIt’s more effective than customary raising money.
oIt creates footing, social confirmation, and approval.
oIt’s an open door for crowdsourced conceptualizing to refine your thought.
oIt picks up you early adopters and faithful promoters.
oIt duplicates as promoting and media introduction.

EFFECT ON LOCAL ECONOMIES
Crowdfunding gives another chance to business people to dispatch wanders without relying on customary financing components, for example, banks and holy messenger contributing. Regardless of its quick development, we see minimal about how crowdfunding clients fabricate specially appointed online networks to embrace this better approach for performing entrepreneurial work. To better comprehend this wonder, we played out a subjective investigation of 47 business visionaries who utilize crowdfunding stages to raise reserves for their ventures.
We recognize network endeavours to help crowdfunding work, for example, giving mentorship to beginners, giving criticism on battle introduction, and building an archive of case undertakings to fill in as models. We likewise distinguish where network endeavours and advances succeed and fizzle at supporting the work keeping in mind the end goal to educate the outline of crowdfunding bolster devices and frameworks
EFFECT ON INTERNATIONAL / GLOBAL ECONOMIES
In a meeting with John Gosier, a speculator, information researcher, and serial tech business visionary, from Wired.com, the eventual fate of value crowdfunding and its potential worldwide effect is talked about in intense help. Crowdfunding enables people to vow cash-flow to for all intents and purposes anything, regardless of whether it be to help a social reason like conveying sustenance to the less blessed or subsidizing an organization that makes innovation that enhances vitality proficiency in the United States or in nations with discouraged economies.

Mr. Gosier addresses the way that while the worldwide economy has developed colossally since the start of the PC age, the aid in innovation advancement has added to riches holes between the most extravagant and poorest nations. Crowdfunding can be another intense apparatus to help the less lucky and help grow the personal satisfaction all inclusive.
Mr. Gosier contends that a tech underclass is creating in which certain innovations just achieve certain pay levels and nations. This implies nations and people must discover approaches to extend advancement to give mechanical apparatuses crosswise over outskirts so everybody can profit by the possibility of development. In nations, for example, the United States, New Zealand, South Korea, and Canada, alongside the European Union, value crowdfunding has started to pick up footing as an elective venture instrument alongside gift based crowdfunding.
Crowdfunding could goad floods of venture into rising nations through social causes and new companies, which thusly makes an ethos of inviting development. One way crowdfunding has profited creating countries is through an item called Gravity Light, which was made as an answer for the 20% of the total populace that does not approach power. The objective of raising $55,000 to support the wander wound up acquiring $399,590, a 726% oversubscription, demonstrating the intense impacts of just utilizing on the web stages that enable any person to vow capital.
The gadget does not require daylight or power to run making it to a great degree conservative for a ruined populace. The effect of something as straightforward as a manageable light source can change the lives of a family without access to power.
A case of how a generally straightforward development from a little framework of committed people can have a colossal effect was in Egypt amid the Arab Spring. Amid this day and age Internet and telephone lines were totally stopped or blocked, which means correspondence was incomprehensible. In any case, Mr. Gosier’s wander Abayima took into consideration correspondence between cell phones without the need of a SIM card, a normally basic part in cell correspondence. Amid the same in time the nation of Uganda, it was race season and hopefuls were searching for any approach to acquire votes.
The administration chose to square different words and articulations sent over instant message SMS like “tyrant” or “Put him out of intensity.” In nations all through Africa and in other creating world countries, versatile openness is of the utmost importance for spreading news and conveying to the outside world. Giving the general population of Egypt, Uganda, and different nations a medium of correspondence helped shed light on what was happening in the nation to the outside watchers. The circumstance demonstrates how mechanical opportunity and advancement considers upgrades in monetary conditions.
Medicinal services are a tremendous industry developing each year and incorporate each nation, which makes it a decent case to take a gander at innovation exchange. As indicated by the Centers for Medicare and Medicaid administrations, throughout the following 10 years in the United States the medicinal services segment will encounter yearly development of 6% because of maturing populaces, enhanced therapeutic innovation, and higher general expenses.
In a report from the White House, the expenses related with social insurance are anticipated to be very nearly 34% of U.S. Gross domestic product by 2040; it as of now sits at 18% of GDP.
As indicated by look into from the speculation firm Siguler Guff, the nation’s inside BRICS (Brazil, Russia, India, China, and South Africa), who speak to a vast gathering of created countries, the Healthcare showcase is worth over $850 billion alongside the business intensifying at a rate of 9.1%.

This rate is really higher than the total GDP development of those nations. The requirement for bring down social insurance costs are basic as the interest for medicinal services is outpacing general monetary development.
A novel item that can conceivably help mitigate the developing expense of medicinal services is Kite Patch. This precaution item was crowdfunded and guarantees to help protect against mosquitoes and the transmittable ailments they convey.
The item shields people from mosquito chomps with a little sticker that is put on the body and hinders the parasite from discovering its human host. Mosquitos contaminate more than 300 million individuals per year with Malaria and Dengue fever, which are only two of the perilous sicknesses they convey. Illnesses like these and others could be lessened everywhere throughout the world from creative items supported through the group. Unmistakably, while restorative innovation is boundlessly enhancing crowdfunding efforts are helping with settling open approach issues.

FINDINGS
Crowdfunding is most outstanding as four unique models and this is additionally what the majority of the sources been considered in this paper say, yet Gedda et, al (2016) mean there are seven distinct models. That there might be difference about these things may rely upon how profound the creator investigates the point.
In any case what number of various gatherings there are, the distinctive gatherings show that crowdfunding can be utilized as a part of various ways. Despite the fact that the essential motivation behind why individuals utilize crowdfunding is the same. Leeway that there is in excess of one model can do that more individuals utilize crowdfunding in light of the fact that there are distinctive approaches to utilize it and for various reasons.
A positive thing with crowdfunding is that three of the four distinct models are a win-win circumstance for both the makers and the financial specialists. In any case which models is utilized; the maker gets monetary help in type of cash from funders.
The reward demonstrate is the most well-known and fruitful one. In this model the funder has an opportunity to get both material and insignificant rewards in return. In the loaning model, the funders loan cash to the makers and loaning likewise implies that you receive the cash back or something unique consequently. In the value based model the funders who put resources into an undertaking get shares in the organization in return. This implies the speculators move toward becoming accomplices in the organization.
The main model that isn’t an undeniable win-win circumstance for the two accomplices are the gift based model. Likely the financial specialists have a major enthusiasm for the venture that despite everything they need to put resources into the task despite the fact that he or she doesn’t receive anything consequently.
The funder may receive social reward consequently however. As per Gerber and Hui (2012) individuals partake in crowdfunding stages since they feel a social solidarity and need to put resources into ventures with individuals with a similar intrigue. Another motivation behind why individuals put resources into ventures despite the fact that they don’t receive anything consequently can be a direct result of natural or outward inspiration as Gedda et, al, (2016) discuss. This kind of financing is developing quickly.
Numerous individuals today utilize Internet and online networking which implies that through these channels would we be able to contact bunches of individuals in a brief timeframe with moderately little exertion.
This is additionally a motivation behind why crowdfunding is developing so quick and has been exceptionally prevalent recently. So another positive thing with crowdfunding is that it is simple for the makers to achieve numerous speculators through the stages.
The security of putting resources into crowdfunding is flawed. Mollick (2013) implies that a negative thing with crowdfunding is that the financial specialists can’t know ahead of time for beyond any doubt that the tasks they put resources into will be executed. What will happen to the funders at that point? Will they recover their cash or would they say they are lost? It is a hindrance of crowdfunding that there are no ensures what happens if the task won’t be effective.
It is by all accounts isolated sentiments about whether it is anything but difficult to discover funders or not. As per the study that Stanko and Henard (2016) made, every one of the makers is not content with their experience of crowdfunding stages. A few respondents said that utilizing crowdfunding stages won’t be productive since it requires a great deal of investment and exertion. One member of Kickstarter implies that the major of the funders are companions or family.

This respondent implies this is a negative thing and that crowdfunding stages don’t function and it appear to do. It sounds like these individuals hope to get things for nothing and not have the mentality that diligent work pays off. Widegren (2015), originator of Flippin’ Burgers, said in the meeting that lone 33% of the funders to his ventures were individuals that he knew previously.

How effective a venture will be depends in all likelihood on what sort of item it is. If relatively few individuals are occupied with the task, family and companions may volunteer as monetary help just to be caring. It might likewise rely upon how much thankfulness the maker shows to its financial specialists. Widegren gave all funders that gave cash a gift voucher to demonstrate his appreciation. The accomplishment of a task through crowdfunding relies upon what kind of venture it is, the manner by which goal-oriented and what sort of procedure the maker employments. Mollick (2013) shows that two vital variables for effective crowdfunding ventures are close to home systems and that the undertaking is of high caliber.
Both Mollick (2013) and Cholakova and Clarysse (2015) demonstrates that despite everything we know almost no about the component that rouse individuals to utilize crowdfunding. This makes it harder to contrast the hypothesis and the outcomes from the exact examination. The outcomes from the overview made in task 2 demonstrate that a larger number of ladies utilize crowdfunding stages than men do. The vast majority of the clients are in the age 31-45 years of age, lives in a moderate measured city, has compensation between 30.001-40.000 Swedish crowns multi month. The inquiry concerning the reason for why individuals utilize crowdfunding stages is the issue most predictable answer which implies that individuals are utilizing crowdfunding stage for various reasons.

This implies all the distinctive kinds of crowdfunding are utilized for its motivation and are for the most part generally similarly valued. Figure 6 demonstrates that the most import for individuals when they pick stage is that the stage must be vast and surely understood. This is presumably the most essential factor for new clients who have not been in the business previously. It is generally a suspicion that all is well and good as an apprentice, regardless of what the case is, to begin with something you realize that others have beforehand utilized and are happy with. Everybody aside from two respondents, think crowdfunding stages is a decent alternative for financing and venture.

As indicated by Brabham (2008), the general client for an outsourcing site is a center to old, center to privileged, high taught, wedded white man with fast Internet association. The reason number one why this ordinary man is utilizing this sort of site is cash and in lights of the fact that he needs to enhance his insight and have a great time.
What recognizes the aftereffects of the review from what Brabham (2008) says is that the study demonstrated that a bigger number of ladies than men utilize crowdfunding. The for the most part clients of crowdfunding are in matured between 31-45 and the clients of outsourcing sites is centre to old, which is more seasoned than what the overview appeared. The aftereffect of the study demonstrated that individuals procure between 30.001-40.000 Swedish crowns for each month and this may imply that the general population are high-instructed, similarly as Brabham (2008) says.

Whatever remains of the inquiries are difficult to look at since Brabham (2008) does not discusses similar things that the respondents in the review needed to reply. As indicated by the information that Agrawal et, al, (2011) contemplate, most of the makers who look for money related help are youthful, have constrained contacts system and they don’t have enormous money related assets. This hypothesis contrasts from the aftereffect of the review and furthermore what Brabham (2008) says in regards to clients of outsourcing stages.
This may relies upon that the clients of outsourcing stages and crowdfunding stages are not the same. It sounds sensible that the general population who look for monetary help do that since they don’t have so much cash themselves. So another motivation behind why Agrawal et, al, (2011) hypothesis varies from the outcome from the review could be that the overview did not swing to either the maker or the funder so the outcome did not indicate for what reason the respondents utilize it.
On the off chance that they have financed any possess thoughts by crowdfunding or on the off chance that they been putting resources into others’ thoughts. It is conceivable that the makers are for the most part youngsters who don’t have huge budgetary assets and that the consequence of the study demonstrates the common funder. Likely individuals won’t utilize crowdfunding as a maker more than one or a couple of times since you should have a total plan to apply for financing through these stages.

As a funder, it is conceivable to put resources into what number of ventures as you like and have an enthusiasm to. There is no restriction of what number of or what sort of task a funder can put resources into. With this stated, we can make the conclusion that there are numerous more funders than makers utilizing crowdfunding stages. A few people and organizations might be incorporated into both. The regular client of crowdfunding may vary in one anticipate to another and even in various nations.

INDEX
ANNEXURES 17,18,19 20,
BENEFITS 6BIBLIOGRAPHY 18FINDINGS 11, 12, 13, 14
INTERNATIONAL / GLOBAL ECONOMIES 9, 10
LOCAL ECONOMIES 8
PROS AND CONS 6
REFERENCES 19
START-UP BUSINESSES 5
TYPES 3REFERENCE
Agrawal, A.K, Catalini, C & Goldfarb, A. 2011. The Geography of Crowdfunding. Available from: http://www.nber.org/papers/w16820.pdf.
Bannerman, S. 2013. Crowdfunding Culture.
Available from: http://wi.mobilities.ca/crowdfunding-culture/
Beckwith, J. (2016). “Predicting Success in Equity Crowdfunding,” Joseph Wharton Scholars. Available at http://repository.upenn.edu/joseph_wharton_scholars/25
Cholakova, M & Claryss, B. 2015, Baylor University.
Available from: http://onlinelibrary.wiley.com/doi/10.1111/etap.12139/epdf?r3_referer=wol&tracking_action=preview_click&show_checkout=1&purchase_referrer=onlinelibrary.wiley.com&purchase_site_license=LICENSE_DENIED
Gedda D, Nilsson B, Såthén Z, & Solberg K. 2016 Technology Innovation Management Review. Available from: http://timreview.ca/sites/default/files/article_PDF/Gedda_et_al_TIMReview_March2016.pdf
Gerber E M & Hui J S, 2012. Crowdfunding: Why People Are Motivated to Post and Fund Projects on Crowdfunding Platforms.
Available from:
https://www.researchgate.net/publication/261359489_Crowdfunding_Why_People_are_Motivated_to_Post_and_Fund_Projects_on_Crowdfunding_Platforms.
Mollick, E. 2013. The dynamics of Crowdfunding: An exploratory study. The Wharton School of the University of Pennsylvania, United States.
Available from: http://ac.els-cdn.com/S088390261300058X/1-s2.0-S088390261300058X-main.pdf?_tid=bc030dd0-cec9-11e6-9984-00000aab0f26&acdnat=1483127832_3ae58889d391301e73ddded814814dc8Stanko M A & Henard D H, 2016, How Crowdfunding Influences Innovation. MITSloan Management Review.Available from: http://search.proquest.com.ezproxy.bib.hh.se/docview/1778414483?pq-origsite=summon
Tyrrell C (29 July 2015) . Crowdfunding is impacting the Global Economy Retrieved from: https://www.crowdfudinginsider.com/2015/07/71967-crowdunding-is-impacting-the-global-economy/
Widegren J. (2015) Video about Flippin’ Burgers.
Available from: https://www.verksamt.se/starta/finansiera-starten/crowdfunding

Donations-and prizes based crowdfunding stages are obviously adapted towards financing social causes and innovative ;innovative undertakings. 65% of the crowdfunding ventures recorded on gifts based stages are gathering pledges for different social causes, for example, social welfare, neighbourhood network activities, restorative costs, philanthropy ventures, and so forth.
Then again, rewards based platforms are similarly suited to gather pledges for social causes (31%) and for imaginative and inventive tasks (38%). The creative and creative battles propelled in rewards-based stages extend from films and recordings, expressions execution and events design, distributing, among other projects.

Equity-based crowdfunding stages are principally used to support new businesses, microenterprises, and SMEs (47%). They are likewise used to put resources into private and business properties (32%)
.Peer-to-peer loaning crowdfunding stages are part engaged, and raise money for business and enterprise ventures

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