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JUMPSTART
WHO ARE THE BRAINS BEHIND
FRINGEBACKER? HOW DID THIS
IDEA COME ABOUT?
I have been doing direct investments
for many years and have come
across numerous projects with
great potential, but unfortunately
they were not compatible with
traditional investment strategies.
Then, in 2009, we first came across
crowdfunding in the USA. I was
fascinated to learn that this new
channel allowed growing ranks of
entrepreneurs, artists, IT developers
and many others to raise money
online. Crowdfunding has proven to
be very successful in filling the gap
where projects have great potential
to succeed, but are not yet at the
profit generating level for venture
capitalists or angels to invest. With
that in mind, we decided to use
our fundraising, investment, and
technology experience to set up
FringeBacker.
JUMPSTART
to make it as easy as possible for
backers to support projects, hence
why we also facilitate payments by
bank transfer or cheque.
Another unique quality is our
thorough verification process. This
provides validation for project owners
and backers alike. By challenging
project owners to meet the standards
we set, this helps them gain a surer
footing with their proposals which
in turn produces a higher quality
project, and potential benefactors
can be confident of its value and
integrity.
WHAT WERE THE EARLY DAYS OF
FRINGEBACKER LIKE?
Very exciting! Our inaugural
project was undertaken by an
esteemed collegiate a cappella
group from King’s College London
who successfully raised nearly
HK$100,000 for their international
music tour to Hong Kong and
Singapore. Our projects have since
been extremely diverse – including
computer games, art exhibitions,
theatrical productions and even an
iPhone movie – and it is thoroughly
enjoyable to work with such
enthusiastic and talented project
owners.
WHAT ARE THE ELEMENTS OF A
SUCCESSFUL CAMPAIGN THAT GETS
FUNDED?
First and foremost, it is important to
recognize that crowdfunding is not
a passive activity and you need to
work hard to receive contributions.
We encourage all our project
owners to be creative with their
campaign and interact with their
backers. As a starting point, it is
very important that project owners
plan ahead before their campaign
starts. To ensure the success of
their campaign, they should identify
their target audience and put a
plan in place to reach out to their
community for support.
As we operate
in English and
Chinese, we
open up fantastic
opportunities for
projects owners,
particularly
entrepreneurs
and startups, who
wish to reach a
wider audience and
access markets in
Chinese-speaking
territories.
WHAT IS YOUR FAVORITE SUCCESS
STORY THAT CAME OUT OF
FRINGEBACKER?
One of our favourite and most
successful projects to date – which
in turn achieved a world first by
crowdfunding for a professional
athlete – was to help the
International Equestrian Jacqueline
Lai raise nearly HK$500,000.
Jacqueline’s story is particularly
touching as she miraculously
recovered from a potentially career-
SOME MAY ASK, WHY NOT
KICKSTARTER? WHAT MAKES YOU
DIFFERENT?
We have several distinguishing
qualities that make us stand
out from Kickstarter and other
crowdfunding platforms. As we
operate in English and Chinese, we
open up fantastic opportunities
for project owners, particularly
entrepreneurs and startups, who
wish to reach a wider audience and
access markets in Chinese-speaking
territories.
Our payment system also appeals
to a wider audience. The Amazon
payment system used by Kickstarter
is not friendly or convenient for
application by non-US citizens, so
applicants from Hong Kong – or
anywhere else in Asia – who don’t
have a US connection really struggle.
That’s where FringeBacker comes
in. FringeBacker allows you to raise
funds in multiple currencies. We try
ending injury after falling off her
horse while training in Denmark. Not
only did the money she raised then
help her to compete and represent
Hong Kong at the All-China National
Games, she successfully won a silver
medal in her category.
WHAT’S NEXT FOR FRINGEBACKER?
We will endeavour to continue
to provide a platform for creative
and talented individuals as well
as entrepreneurial projects.
FringeBacker also celebrates the
many achievements of Hong Kong’s
charitable organisations and we
hope to develop our support of
their virtuous fundraising efforts.
In addition to this, we are