Monthly Archives: February 2013

Crowdfunding concerts: How fans can get their heroes to play in their hometowns

Crowdfunding Concert

At the climax of the film Wayne’s World 2, Wayne and Garth manage to book their dream roster of bands and bring them to their home town – Aurora, Illinois. It sounded like a far-fetched fantasy at the time. But 20 years later, this kind of dream could soon become reality for superfans. New online methods of crowdfunding concerts are allowing fans to club together, buy tickets, and get the acts of their dreams to come and play in their own hometowns – whether it’s in Illinois, Ipanema or Ipswich. Crowdfunding has revolutionised recorded music, with Amanda Palmer raising a staggering £750,000 last year through…

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How Crowdsourcing Could Save the Department of Energy

Open Innovation

In the fall of 2011, the Department of Energy’s Inspector General issued a sobering report calling for a major restructuring of operations. In a stunning revelation, the report showed that 35 percent of the $10.4 billion needed to run DOE’s sixteen national laboratories each year was spent on overhead costs, not research. Recommending a consolidation of lab operations, Inspector General Gregory Friedman called the current situation “unsustainable in the current budget environment.” The report couldn’t have come at a worse time for the DOE. One month earlier, Solyndra had gone bankrupt and the Department was frantically trying to defend itself against allegations of corruption. After…

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While waiting for SEC regulations, crowdfunding leaders focus on investor education

Some crowdfunding industry leaders are using the lull before the fundraising practice is publicly viable to develop educational material for people who may soon be making their first investments. The Securities and Exchange Commission is currently drafting rules to allow start-ups to sell stakes in their companies to the general public, potentially raising large sums from crowds of small investors. Until now, selling equity stakes has been limited to so-called accredited investors, people who presumably have the wherewithal and sophistication to know what they are getting into. Crowdfunding opens the field to the general public, and critics worry the newcomers may not adequately understand the…

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First crowdfunding conference to promote new financing models

UK Crowdfunding Deep Impact

The UK’s first National Crowdfunding Conference will feature MPs, entrepreneurs and finance industry speakers. ‘Crowd Funding Deep Impact’ will take place on Tuesday February 26th in Hertfordshire, and will hear from the likes of Ariadne Capital CEO, Julie Meyer; CBI director, Matthew Fell; and Barry Sheerman MP. Crowdfunding experts from Crowdcube, Bloom VC, and BankToTheFuture will also share their experiences and thoughts on the future of crowdfunding in the UK. The event is the result of a partnership between the University of Hertfordshire and Barry James’ Social Foundation. Julie Newlan, pro vice-chancellor of enterprise at the University, said: “Crowdfunding has huge potential to help transform…

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Sec Chair Says Crowdfunding Coming “Soon”, But When Is That?

American Jobs Act

In a recent speech at the annual “SEC speaks” event, current Securities and Exchange Commission chair Elisse Walter placed the word “crowdfunding” immediately after the word “soon.” Well, that seems like progress. Of course, I could just be engaging in the time-honored tradition of over-parsing every word uttered by a beltway insider in search of clues about what’s going on inside the government. Here’s the complete sentence: “Soon, crowdfunding will bring the potential for a broader range of investors to provide private capital, although their investments will be and should be limited.” As most people that have ever visited this site — or listened to…

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Crowdsourcing: A burgeoning jobs market for the jobless recovery

As the improvement in the nation’s economic outlook—coined the “jobless recovery” by the New York Times in 2010—has been slow-going in some markets, the number of unemployed and underemployed remains high. So the question is, where will the high-paying opportunities of the future come from? Are we destined for a world where these positions are merely sourced offshore to places with a lower cost of living? Part of the answer lies in an idea whose roots hearken back to the dawn of the “New Economy.” Fifteen years ago, Fast Company touted the benefits of “Free Agent Nation” – the millions who were, by choice, maintaining…

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Five Reasons Why Equity-Based Crowdfunding Under the JOBS Act Won’t Work

There’s so much hype surrounding crowdfunding and for good reason. Stories like the one of Ouya, a game console developer that raised $950,000 in just 8 hours on Kickstarter capture our imaginations. In 2012 alone, over 2 million people pledged approximately $319 million on Kickstarter while global crowdfunding is predicted to grow to $6 billion in 2013. So far so good. But existing crowdfunding models are based on donation and reward based models where backers donate money to projects with no prospect of enjoying the upside of a successfully funded crowdfunding project. That’s where equity-based crowdfunding comes in. Rather than donate money in a crowdfunded…

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Venture capitalists prepare for the impact of crowdfunding

The Jobs Act

The Securities and Exchange Commission has yet to introduce regulatory guidelines for equity-based crowdfunding, but that hasn’t stopped some of the region’s venture capitalists from contemplating how it might impact their business. Crowdfunding allows entrepreneurs to collect small sums of money via the Internet from everyday people who then become investors in their business. On its face, the practice seems to pose a threat to traditional venture capital firms that will face new competition for the best deals. That’s not necessarily the case, some say. Capital Business spoke with several local investors to get their take on what equity-based crowdfunding means for the industry. Here’s…

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Advocates urge SEC to propose crowd-funding rules

About a dozen crowd-funding and venture capital representatives and small-business advocates last Tuesday urged Securities and Exchange Commission Chairman Elisse Walter to propose rules for crowd funding. A type of financing that lets small investors buy equity or debt in startups over the Internet, crowd funding is among several provisions of the Jumpstart Our Business Startups Act — signed by President Barack Obama last April — designed to ease securities registration rules for entrepreneurs. The SEC has not yet proposed a crowd-funding rule, which was due in January. It is one of several JOBS Act rules that have fallen behind schedule. “Chairman Walter has the…

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EU & US for Growth, Investment Crowd-funding and Support

Invest in EU

Lots of people in the EU are asking tough questions. Will those prospects get better? How can we make Europe more dynamic and prosperous? How can we stay in the race with fierce global competition? How can we offer a better future for everyone? They are asking those questions profoundly and earnestly. But for me the answer is pretty easy; I don't need to look much further than this room. We need to innovate our way out of the crisis. And for that, we need entrepreneurs: risk-takers, willing to break out on their own, try something new. And you have a powerful tool to help…

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From Crowd sourcing to Crowd storming

The “crowd” has come to embody the organizations enabled by our new online connections. Crowdfunding provides an alternative to traditional sources of capital by directly linking those who need funding with those who have it. Collaborative consumption enables us to access assets such as homes or cars via online crowds. And crowds are offering an alternative to traditional outsourcing institutions, connecting those who have large or small tasks with those who are willing to perform them. Over the last decade, organizations like GE, P&G, DARPA and LEGO have pioneered a particular type of work with crowds. They work with crowds to brainstorm, or “crowdstorm.” And…

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Crowdfunding sites offer a different way to raise money

The Vampire Movie

Geoff Orlowski wants to take his filmmaking talents to the next level. The Whitesboro resident has been writing and making his own movies — from short films in college to his first feature film that he shot last year in Utica. To get to the next level with his second feature-length movie, though, he needs better equipment. And that means more money. The funds for his first film came straight out of his pocket, and it covered only meals and some equipment, he said. “It’s a sad thing, when you see all the skills that the actors and the crew members have and they’re not…

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HEADLINE NEWS

ForbesHow One Startup Raised 10 Times Its Original Crowdfunding GoalForbesRunning a successful crowdfunding campaign isn't easy. The odds are heavily stacked against you, as very few end up succeeding. "Statistically, up to 89% of campaigns fail. Kickstarter has the highest [...]

ForbesThe Ultimate Pre-Launch Crowdfunding ChecklistForbesCrowdfunding is not limited to the platform where you launch your campaign. Instead, it has become a valuable way to transform your idea into a mainstream business. In order to head in that direction, you must execute a number [...]

Wicked Local LexingtonKids' tech literacy crowdfunding campaign a successWicked Local LexingtonResponding to a crowdfunding campaign by the Cary Memorial Library Foundation to raise $5,000 in five weeks, 82 generous Lexington donors and others helped surpass the goal, giving more [...]

BOE addresses crowdfundingAtmore NewsYou may have seen the appeals for funds through GoFundMe or Donors Choose. The practice, known as online crowdfunding, has become a popular practice to raise money for schools or individual classrooms. Teachers may appeal for funds to purchase ... [...]

The MissoulianIndiana man allegedly used crowdfunding to visit 14-year-old ...The MissoulianA 29-year-old Indiana man who allegedly came to Missoula to meet up with a 14-year-old girl has been arrested and charged with a felony for sexual abuse of ...and more » [...]

WFAAMore Dallas teachers turn to crowdfunding for classroom suppliesWFAATight budgets mean more Dallas area teachers are seeking out crowdfunding options to obtain the supplies their students need. The site DonorsChoose.org featured 371 active projects marked "urgent" for Da [...]

Eater LondonFat Macy's Launch Crowdfunding Campaign to Open Restaurant in PeckhamEater LondonFat Macy's — a food social enterprise which aims to train young Londoners living in temporary housing — have launched a crowdfunding campaign. Their aim is to raise £55,141 to fund a [...]

U.S. News & World ReportNo Cash for Hate, Say Mainstream Crowdfunding FirmsU.S. News & World ReportThe block on mainstream crowdfunding is just the latest blow to far-right activists operating online. In the last 24 hours, neo-Nazi website the Daily Stormer had its domain regi [...]

Realnoe vremyaEveryone pools: Elvira Nabiullina to look closer at crowdfundingRealnoe vremyaIts Deputy Chairman of the Board of Directors Yulian Lazovsky told Realnoe Vremya that crowdfunding platforms will need to create a capital of at least 10 million rubles within the cooperation [...]

StepFeed'Save Linah' crowdfunding campaign to help girl flee Saudi Arabia goes viralStepFeedIn a bid to escape her abusive family, a Saudi woman, whose first name has been identified as 'Linah,' has turned to crowdfunding as a means to help pay for her trip. Linah, [...]

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