Crowdfunding is a relatively new means of financing a venture. The concept of crowdfunding revolves around the collaboration of efforts for the generation of capital for a new idea. Prior to crowdfunding, many creative solutions couldn’t be realized because of the lack of sufficient funds.
The general notion of crowd funding is that when an idea is introduced and brought to the fore by someone on a platform, it is open to be funded by different authorities/individuals who find it the most feasible. Some of the most reputed sites for crowdfunding are:
Kickstarter is one of the most popular options for crowdfunding. It is also one of the oldest sites for all such funding activities. This portal strongly encourages creative and innovative ideas and has had a significant and diversified growth while funding different ventures relating to arts, social sciences and creativity.
IndieGogo is also a very well known platform for generating funds for new ventures. It not only supports projects that plan to serve on a large communal level but also small businesses of a personal scale. It supports fundraising campaigns for small personal ventures such as music, sports, charities and even some personal financial needs. The good thing about IndieGoGo is that it accepts most projects and proposals without many reviews.
GoFundMe is not only popular for its support for generation of capital for small ventures but also for its support for personal financial needs. It even helps people in finding the financial pooling for personal events like weddings and celebrations as well as unseen emergencies such as illnesses and accidents.
Crowdrise, as the name suggests, is a more individual-based crowdfunding site. It helps in raising money for charitable and big causes on both a personal and societal level. It is not just a platform to support small businesses or commercial ventures, but it also supports more humanitarian causes.
This is a comparatively newer platform and signs up profiles from different accounts of various social media platforms. Numerous investors interested in and opting for different niches of start-ups judge the potential in the ideas and fund the capital. Some of the most recognized institutions fund start-ups on AngelList.
It is another famous crowdfunding platform. Initially, RocketHub was created to support arts and social sciences investments but now, it is more focused on the science and development niche. Recently, it also increased the opportunities for science projects by introducing the SciFund Challenge which is an online project to welcome more science related ideas.
It is the leading giant in equity-based crowdfunding. It encourages creative ideas for new ventures in the retail industry. There is also a high level of focus on the niche of high-growth consumer and retail products. They have introduced “CircleUp Halo” and partnered with big giants in fast moving consumer goods like P&G and General Mills to offer not only funds to their clients, but also access to brand knowledge and marketing strategies of major corporations.
These are some of the many diverse options available for an individual looking for crowdfunding. Each of the platforms have their strengths and weaknesses, so it is upon the investor as well as the idea they want to bring forth, to choose the one which suits them the best.