Putrajaya should kickstart crowdfunding, says MDeC – Bernama


Crowdsourcing to raise funds might sound foreign to Malaysians but it is an alternative local business or start-ups should look into especially when government grants or loans are not available.

Crowdsourcing for funds or crowdfunding or crowdfinancing is gaining popularity in developed countries, especially the US. It is a collective initiative by individuals to network and pool their money, usually via the internet, to support efforts initiated by other people or organisations.

The funds are usually used to support activities like social projects, movies, films, research and development, as well as start-up companies.

Multimedia Development Corporation (MDeC) Creative Multimedia vice-president and director Kamil Othman said there is a need for the government to introduce some kind of incentive to spur crowdsourcing activities in the country.

Kamil said by encouraging such activities in Malaysia, it will not only allow and engage the public in certain projects but also provide an avenue for local filmmakers as well as small production companies to raise funds on their own.

“For the upcoming Budget 2014, we want to propose that the government provides some kind of tax incentive for the public and companies involved in crowdsourcing activities.

This is to encourage and spur interest amongst the Malaysian public,” he told Bernama.

He said in the US individuals can pledge as little as US$1 (RM3.21) to crowdfinancing initiatives or as much as they are willing to.

Kickstarter is currently the world’s largest crowdfunding platform on the internet, providing an avenue for individuals and companies to raise funds for various initiatives.

Since its launch in 2009, 4.9 million people have pledged US$803 million (RM2.5 billion) to fund 49,000 creative projects. Currently, thousands of creative projects are on Kickstarter to raise funds.

Kamil said some of the Sundance-produced films raised their funds through crowdsourcing platforms.

Last year, 10% of the films at Sundance were Kickstarter-funded. Sundance, for the record, is a film festival for independent film producers

According to Kickstarter, project creators can keep 100% ownership of their work. – Bernama, September 29, 2013.


Los Angeles TimesCrowdfunding campaign's goal: Buy Twitter, then ban TrumpLos Angeles TimesFormer undercover CIA agent Valerie Plame Wilson is looking to raise enough money to buy Twitter so President Trump can't use it. Wilson launched the crowdfunding campaign last week, t [...]

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 [...]

SCORE: Dos and don'ts for crowdfunding small businessesPost-BulletinI shared in my last week's column that financing was a common issue small-business clients bring to SCORE mentors. A reader from that column emailed me and said, "You mentioned crowdfunding as an option [...]

ForbesCrowdfund Strategies - Mifold Hit Gold On Indiegogo But It Was VC And Angel That Made It PossibleForbesFast forward to 2015, and Sumroy is launching his product – now dubbed Mifold – on the Indiegogo crowdfunding site. “July 14 was the most exciting day of my life,” he recalls. [...]

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 [...]

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 [...]

Digital Arts Media Network, Inc. Purchases An Equity Stake in Cannabis Crowd Funding Company, Fundanna, Inc.Nasdaq23, 2017 (GLOBE NEWSWIRE) -- Digital Arts Media Network, Inc. (OTCMKTS:DATI), a specialized tech accelerator leveraging the Public Accelerator-Incubator (PAI) model, has c [...]

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 [...]

CFB Finance


  • Crowdfunding
  • Crowdfund
  • Peer to Peer Lending
  • FinTech
  • Reg A+
  • Reg CF
  • Crowdfunding USA

Press Release

CrowdFund Beat Media

Cryptocurrency is Wild West of Finance lnkd.in/gJF4zqe

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |