What you need to know to crowdfund your project
- Date: 11-Oct-2020
- Source: Gulf Business
- Sector:Financial Markets
- Country:uae-top-picks
What you need to know to crowdfund your project
The idea of matching people who need money with the people who have money to invest is not new; what is new is the way this concept of intermediation is facilitated (and made easier) by technology and recognised by law. While crowdfunding is not yet a household word in the region, it has generated a buzz amongst entrepreneurs, especially those in the tech space who see crowdfunding as a potential source of funding for their business.
Crowdfunding is particularly seen as a prospective funding tool for creative work such as blogging, journalism, independent film and music as well as for funding start-up companies.
Data collected by Cambridge Centre for Alternative Finance (CCAF) reveals that crowdfunding has raised $304.53bn worldwide in 2020, with the average funding per campaign in the