Are You Bursting With The Next Big Idea? This Might Help.

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In case you thought crowd funding came and went and no-one cares about Kickstarter or Indigogo any more… think again. With explosive growth of 1,000 percent in 5 years, it’s estimated by Fundable that by 2020 the model of open source funding will contribute $500 billion in investment, generate 1.2 trillion in economic value and stimulate more than 2 million new jobs. When you consider that around 6 million entrepreneurs launch companies every year and only a fraction of them get traditional funding, crowdfunding becomes a powerful force for enabling start-ups to turn their innovations into realities. So what’s the secret to crowdfunding success?

There isn’t a perfect formula to predicting which crowdfunding projects will be successful. “One project that aimed for $50,000 and raised more than $13 million was the Coolest Cooler. The baking tool for math lovers, the Pi Pie Pan, raised more than $17,000 in just 30 days, on a $2,000 goal. And a miniature shotgun for killing insects called BugASalt, raised over $577,000. Its goal? Just $15,000.” 

In case you’re bursting with the next big idea but have no idea how to make it happen, the crowdfunding site Fundable, have “boiled down the best practices for starting and growing a company into a series of guides, paired with advice from the country’s top entrepreneurs and investors. Matched with other tools and resources, these guides will help you avoid common obstacles and achieve more, faster.”

 

 

 

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