Crowdfunding – A blooming revolution

Date: Thursday, November 3, 2011 Date: Thursday, November 3, 2011 Time: 07:45 - 09:00 Location: Corinthian Club

This is a past event

Crowdfunding

Crowdfunding is not only a worldwide phenomenon, it is the latest evolution in the way new businesses raise their start-up funds – in the ‘80s there was VC funding, the ‘90s saw the rise of seed capital, then came angel funding but the future is crowdfunding.

This morning we listened to Michelle Rodger of Bloom VC (Venture Catalyst) talk us through the opportunities crowdfunding offers for new businesses, existing businesses with a desire to innovate and grow, and major corporates with a mandate to focus on Corporate Social Responsibility (CSR).

It was fascinating listening, and refreshing to hear that innovative, compelling projects can be enough of an incentive to gain support. That said, Michelle told us out of the three crowdfunding options of peer to peer, equity and reward based, reward based is the most popular however, that reward is not always money!

Michelle quoted a variety of successful crowdsourcing stories including a young Chicago entrepreneur who asked for $14k to prototype a design for an iPod Nano watch and raised just short of $1m.

The idea of crowdfunding is simple and it was obvious from the tweets during the event that people “got it”;

@NewThea Loved the video that kicked off #commsbreakfast Social Media New Dorks, indeed. Homesick now tho! 😉 Crowdfunding starts w/1 person, 1 idea.

@duffwilma The most successful #crowdfunding schemes are those who connect well with those around #CommsBreakfast

We’ve never experienced so many questions at the #CommsBreakfastbefore. It was great that Amanda Boyle (aka @nowaffle) Michelle’s colleague and founder of @bloomvc was also present to answer the surge that followed the presentation.

@blessedsister Thanks to@CommsBreakfast ! Great presentation from @tartancat with superbly timed ‘butting in’ by @nowaffle ! @bloomvc is the way to grow

@dfscot #CommsBreakfast now @nowaffle talking about reasons for Crowdfunding – just a thank you may be enough.

The #CommsBreakfast was set up to provide a forum for like minded people to share and network. We are delighted that both Amanda and Michelle picked up three projects each as well as a speaking gig for the creative sector after this morning’s presentation. So a big thank you to everyone for turning up this morning and making the #CommsBreakfast everything we hoped it would be: a win/win for all:) To continue networking online please joined our Communications Breakfast Group on LinkedIn

@tartancat Great crowd at #commsbreakfast today, even secured some new projects! Thanks to @skelptarse and @DunningDesign for inviting us #bloomvc

If Michelle sparked an innovation, idea or desire to support in you this morning then get in touch via www.bloomvc.com and @bloomvc.

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