Saturday, November 2, 2013

New Funding Model Panel

-- We have moved from monarchy of innovation to crowd-funding where everyone can follow their dreams- Hugo Van Vuren
--  Crowd funding is not just for entrepreneurs but for everyone! - Paul Gu, Upstart
-- Upstart thinks of a person as a start-up-- Paul Gu
-- Crowd-funding investors are concentrated in US and UK
-- JOBS act will not stop the project based crowd-funding
-- Start using Upstart as soon as you can get into a binding contract!!- Paul Gu
-- Most common activity people invest money raised from Upstart in their education and starting a company

-- who are the ideal customers of a crowd-funding platform-
1. Idea campaign owner: People who can identify audience which cares about them and idea, with strong perseverance, ready to accept feedback and who can integrate this feedback-- Bre, Indiegogo
2. Companies which are really successful on FundersClub: Companies which can get funding easily, companies which have been around for a while but for some reason are not really successful, companies for some reason (like present in middle of no where, ideas which do not sell easily)-- Alex, FundersClub
3. Businesses who have maxed out their credit cards

-- How to make businesses sustainable after the first round crowd-funding?
1. People do not understand manufacturing at scale- there are companies which actually fill this gap!!
2. More curation of the project
3. It's worth trying!!

-- What will crowd sourcing for large projects?
1. Indiegogo helped raise a project 12.6 million. So some of these existing funds can sustain it.

--Where will crowdfunding be in 6 years?
1. Completely grown present across the world
2. Crowdfunding will be a natural state and norm

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