What´s Crowd Funding Essay - 649 Words

Crowd funding is to get financing/sponsors for a new project by attracting the investors by sharing about his/her project ideas through web. Crowd funding is to collect small amount of money from large no of people (i.e. crowd) by sponsoring money to encourage new people for developing project with creative ideas. There are many platforms to sponsor people for new projects such as Kickstarter which provides funding for creative projects. To get funds for the project from these platforms, Project creator need to share his/her project with video describing project and expected amount of money in dollars, Then the investors who will have interest to invest their money in that project will respond and provide some money for the project. I†¦show more content†¦Ã¢â‚¬ ¢ One should choose right platform to advertise or present their project to large no of investors. †¢ Don’t think that investors will ready to invest on your project just by seeing advertisement posted by you. †¢ Share your project ideas with you friends and family members and explain them you are going to start the project for that you need investors. By doing this they will advertise and make others believe in your thoughts because they believe in you. After considering above factors you can proceed to start collecting funds for the project. One of the biggest platforms for crowd financing is Kickstarter. To start with Kickstarter, you need to present your thoughts, what is the goal of your project. Kickstarter reviews the application and accepts it, if it meets requirements. By Crowd funding we can get large amount of investment in our project but there may be risks associated with it. There are large no of projects are being created with innovative ideas; there may be a clash one with the other. Project creator has to file the patent before asking the crowd for funds. So US government has introduced a new rule to avoid authentication problems. As per the US patent Act, who wants to introduce/invent new technology has to file their ideas and project. This file will be moved to the â€Å"file system†. Whoever files the patent first, will have the property. The above same rule is applied to the trademark. A crowd fundedShow MoreRelatedWhat ´s Crowd Funding?945 Words   |  4 Pagesâ€Å"Crowd funding is to increase the money for new projects from web by asking contributions from a large number of people. It is also known as crowd financing and crowd source funding† (Turban, Volonino, Wood, 2013).The great platform for the crowd funding creative project is Kickstarter. â€Å"Crowd funding relies on the participation of anyone who takes an interest in a particular goal or project† (Turban, Volonino, Wood, 2013).To make easy and secure request, donate, and collect the online contributionsRead MoreThe Trending Topics Of 20141447 Words   |  6 Pagesattempt at crowd funding. Certain people have been able to acquire much more money but doing this, but why is that? In this proposal, I wish to be able to research whether or not more people are willing to donate in a personal level, meaning face-to-face, or would investors of today be more willing to donate money on an online platform such as crowdfunding. Roosterteeth, and independent film making company located in Austin Texas, is on the companies that has had a large success with crowd funding. 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