By Richard Swart, Crowdfunding has come a long way since 2008, when a group of UC Berkeley MBA students launched Indiegogo. It’s now a multibillion-dollar industry growing literally exponentially and worldwide.
My research suggests crowdfunding will grow more than 100 percent in 2013, and according to various industry sources, it grew 60-80 percent in 2012.
And while the roots of crowdfunding remain here in the United States, the movement holds much promise and has massive implications for the global economy.
Recently, the World Bank commissioned a study on how crowdfunding could be applied internationally and what its potential could be for affecting entrepreneurship in second and third world countries. It did so by asking Crowdfund Capital Advisors to study the issue, a firm made up of the very people who brought crowdfunding to the fore in the U.S.: Jason Best, Sherwood Neiss and Zak Dorian-Cassidy. The three entrepreneurs spent almost two years rallying support for a crowdfunding exemption from SEC registrations and stood in the Rose Garden in 2012 when President Obama signed the JOBS act into law allowing crowdfund investing in the United States.
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