London named ‘world capital of crowdfunding’

by Emma Cullen, In the same week that Britain was named, ‘self-employment capital of the world,’ yet another feather has been added to the UK’s cap, as London is proclaimed the ‘capital of crowdfunding’.

The research group, Crowdfunding Centre revealed that London has overtaken both New York and San Francisco as the global crowdfunding capital, as it created more campaigns in July than any other city in the world.

London_5

Photo credit: http://londonsnap.co.uk art exhibition London

The figures come as the research centre launch an interactive map displaying live campaigns run by the 10 largest crowdfunding platforms in the world, and showed that by the end of July London was leading the key categories including business, technology, publishing, and gaming, making it the top performing centre.

Paving the way for innovative startup and equity finance, Britain boasted 41 new crowdfunding projects each day and 12 per day in London in the first half of 2014. Over £33m was reported to have been raised between January and June this year UK-wide, £6m of which was crowdfunded in the capital.

Barry James, the centre’s founder, remarked that he was ‘stunned’ by the results.

“That London has taken such a lead was a major surprise – only two years ago the UK was pretty much nowhere,” James commented.

While America – the original home of crowdfunding – still lays claim to the most money raised, the UK is hot on its heels, and the news comes poignantly close to George Osborne’s declaration that ‘We stand at the dawn of new era’ of innovative finance.

“The technologies being developed today will revolutionise the way we bank, the way we invest, the way companies raise money. It will lead to new products, new services, new lenders,” said the chancellor.

James went on to confirm: “What we have seen has revolutionised our thinking and our understanding of what’s happening to the world, its economy and fast-evolving global culture. Technology is the enabler but people, the crowd, are at the centre. It is their decisions, wishes, needs and demands that are driving and directing this new economy.”

A London summit follows the announcement, to assess further potential for crowdfunding within the UK and EU.

Source:
http://www.businesszone.co.uk/topic/finances/london-named-world-capital-crowdfunding/57627

Tags: , ,

HEADLINE NEWS

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news [...]

NPRAfter Outcry, Crowdfunding Site Patreon Backs Off Plan To Raise ...NPRThe popular crowdfunding service Patreon has backed off plans to change its payment structure, after widespread, vocal and passionate opposition from creators and their fans. Last week, the site announced it woul [...]

TechCrunchHow hate speech crowdfunding outfit Hatreon crept back online ...TechCrunchIf you want to make a living creating white supremacist content, you're probably not going to do it via sites like Kickstarter and Patreon, which prohibit hate speech. Fortunately there's Ha [...]

EntrepreneurWhy Some Small Business Owners Are Turning to Crowdfunding to Save Their CompanyEntrepreneurMany owners of beloved local businesses, especially in pricier cities, have been forced to swallow their pride and appeal to their customers in times of crisis -- a process streamli [...]

ForbesCrowdfunding Do's And Dont's From iFundWomen's Karen CahnForbesDuring our conversation, she was transparent in sharing that her first software company, VProud, failed because she “did everything backwards” and spent too much time trying to perfect the product. “Pe [...]

CoinDeskKickstarter ICO? Don't Count On It Says Crowdfunding Leader ...CoinDeskThe company most widely associated with crowdfunding, Brooklyn-based Kickstarter, has no plans to get into the initial coin offering (ICO) business. Coming in response to the news yesterday that compet [...]

ChronicleLiveNo need for banks as North East businesses turn to crowdfundingChronicleLiveWhile the Distillery's fundraising campaign was undoubtedly a success, not every business gains the same level of support from the public. According to Dianne Sharpe, the CBI's former No [...]

Crowdfunding bid to cut car cover for millennials | Business | The ...The TimesAn insurance start-up that claims it can reduce premiums for millennials will launch a £15m initial coin offering (ICO) next month in another sign of the growin.and more » [...]

TechCrunchFormer Gawker employees are crowdfunding an effort to buy Gawker.comTechCrunchWhile Univision acquired most of Gawker Media's sites last year (and renamed them as the Gizmodo Media Group), the deal didn't include Gawker itself. In fact, BuzzFeed reported last month [...]

Crowdfunding For French CastlesNPRYou too can own a French chateau, in part, anyway. Romain Delaume, CEO of Dartagnans, tells NPR's Scott Simon about a crowdfunding effort underway to preserve La Mothe-Chandeniers. SCOTT SIMON, HOST: What if I told you that for about $60, you cou [...]

CFB Finance

Marketwired

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

Press Release

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 |