How To Get Started
Kickstarter and Indiegogo are
two well-known crowdfunding
websites, but they’re not the
only ones. You can also check
out:
Rocket Hub
Fund Razr
Crowdfunder
Moola Hoop
You can also check out the
National Crowdfunding
Association of Canada for more
information
Know the lingo
Ad Swap: when projects promote
each other by swapping ad space
Barker: someone who uses social
networking sites to promote a
project
Creator: the person who runs a
crowdfunded project
Patron: someone who contribute
money to a crowdfunded project
Finding its online start in the infancy stage of the Internet, crowdfunding
was used as early as 1997 to raise money to fund a British rock band’s
reunion tour. Shortly after, in 2000, ArtistShare became the first
crowdfunding website. Since then the industry has grown dramatically. The
revenue from this form of fundraising has risen from $530 million in 2009 to
$1.5 billion in 2011.
The reasons to crowdfund are limited only by imagination and desire.
Several projects, especially those geared toward urban renewal, have found
success in economically-ravaged Detroit. At press time, more than $2500 had
been raised to transform an alley into a “green alley” in midtown Detroit.
Past and present projects include helping Detroit students afford prom
clothing, business projects, restoration ideas, documentaries and books.
Locally, crowdfunding made headlines recently when student Amanda
Vojvodin started an Indiegogo campaign to raise money for the $40,000
tuition that a master’s in international arts management will cost.
“I was hoping through this campaign to raise awareness about the arts
and the value of the arts and what I can bring back to the community,” says
Vojvodin, who recently completed her second undergraduate degree at the
University of Ottawa.
The 23-year-old Windsor native likes crowdfunding because of the
exposure. Between June 7 and June 15, her campaign had already seen almost
400 views. While most of these views did not result in donations, Vojvodin has
already raised $265 from six backers of the project.
Alice Hewitt used crowdfunding on her 23rd birthday by asking her
friends and family to give money to the Brain Tumour Foundation in place of
giving her gifts.
“I reached out through Twitter, Facebook and other social media (to
fundraise),” said Hewitt, now 25. “I received quite a few anonymous
donations which I found really touching.”
Crowdfunding, such as in Hewitt’s case, is often used to fundraise for
third-party causes. It’s raised money for charitable foundations and political
campaigns. Even institutions are getting in on the act; Carleton University in
Ottawa has jumped on the crowdfunding bandwagon. “Futurefunder” as its
called, targets alumni, allowing them to direct their donations towards school
projects that appeal to them.
“It’s right there on the Internet and that’s where people go to every
second of their lives,” said Hewitt. “You can pitch it in so many ways through