Why Startups Should Explore Crowdfunding?
As global crowdfunding market is projected to almost triple by 2025 — learn how to be ready for it.
Entrepreneurs typically start with bootstrapping and they also try to get some funding from friends and family. For most of the startups initial funding can help to get the minimum viable product (MVP) done. The journey after is tough even if you have some traction.
Convincing Angels or VCs to invest takes time and a lot of effort as they demand significant traction.
The lack of funding can kill the company, so a lot of entrepreneurs choose a path of getting into an incubator to keep the ball rolling. Crowdfunding is definitely worth a try, specially if you are working on a consumer or social idea. The data from 2020 is promising, have a look below,
I got really excited recently when one of the startups I know, REBELS 0.0%, a non-alcoholic beverage company out of Switzerland not only completed it’s crowdfunding within 2 days but also achieved 295% of it’s initial goals.
In this article I focus on reward based crowdfunding where the campaign owners can do a pre-sales or reward their backers. There are other types of crowdfunding such as…
