Crowdfunding Maturity & Commence of a Golden Period
Hey Medium’ers :) looking for your thoughts here.
Crowdsourcing Week just published the 1st of my 2-part article about how there’s a new golden era of enterprise crowdfunding emerging.
In the first of a two part series, Nick NM Yap, Founder of smart, wireless music system ROCKI, talks about why…crowdsourcingweek.com
Here’s the thought process behind that article.
2008 — Birth of Crowdfunding
It’s been 7 years (Yes, 7 YEARS!!) since crowdfunding first started in 2008.
2013–Start of 1st Golden Era, Startup Crowdfunding
The early years were quite a niche, creatives and makers in the basement type. Today these projects are still plentiful on both Kickstarter & Indiegogo, the main growth since 2013 has been coming from the very well managed campaigns that raise >$100K and the supercampaigns >$1m. I believe that’s thanks to the knowledge that’s been accumulated and shared around (and perhaps also the swarm of experts and agencies). Along the way, many branches of crowdfunding has spun off too, eg. donation crowdfunding, equity crowdfunding, real estate crowdfunding.
2016-Start of 2nd Golden Era, Enterprise Crowdfunding?
Today, we’re seeing a trickle of enterprise crowdfunding appearing, quite like the early days of startup crowdfunding — a bit of imagination, a bit of experimenting, a bit of go-getter mentality. Enterprise has already been experimenting with open innovation, and mingling with startups in accelerators. Lean Startup, Crowdsourcing, Crowdfunding etc are all already seeded in the minds of the enterprise innovation and marketing leaders. So, it’s a matter of time those seeds sprout in a new Spring, isn’t it?
What’s the difference between this 2nd Golden Era and the 1st?
- There’s now knowledge, methodology and data. Certain parameters are no longer guesswork.
- Social media and ad targeting (among other crowd gathering & building tools) are more developed than ever, and every decent enterprise has mastered these tools.
- The exponential possibilities of scalability x innovation when enterprise innovate like startups and startups achieve enterprise-level scale.
The signs are there, what’s gonna be the trigger that opens up the floodgates? Your guess is as good as mine, care to make a guess? Go ahead, take a shot.