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Crowdfunding - Business Bootcamp Bonus
Crowdcube is a crowdfunding platform that connects entrepreneurs seeking small amounts of funding with individual investors. It aims to make financing more accessible than traditional routes like venture capital. Crowdfunding allows entrepreneurs to appeal to large numbers of ordinary investors for small donations. Crowdcube works by entrepreneurs posting funding pitches and investors choosing which projects to fund. Since launching in 2011, Crowdcube has funded 6 businesses, raising over £1.4 million total with nearly 6,000 registered investors.
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Crowdfunding - Business Bootcamp Bonus
- 1. Darren Westlake Business BootcampExtra 2011
- 2. The Status Quo Awealth of entrepreneurial talent • UK has lots of great ideas • Need to cultivate ideas into the next Google/Twitter/GroupOn Google says searches for • Often stifled by access to Money "business plan UK" have increased by 60% over the past year and searches for "small business loan" are up by 34%
- 3. The Status Quo TheStatus Quo • Venture capital difficult to find for smaller requirements • Debt finance hard to come by • Business angels – limited investments • Typically a syndicate each investing £10k - £100k • What if there was a way to have say 5000 angels each investing £10? • What if anyone could become a business angel?
- 4. Crowdcube and Crowdfunding Whatis Crowdcube? • Crowdcube provides a web-based central hub for entrepreneurs to meet micro-investors. It uses the power of Crowdfunding to provide a unique service to two types of people: • for entrepreneurs to source funding more accessibly than conventional routes • for smaller investors to have the opportunity to invest in exciting high- potential businesses “$100 invested in Microsoft at their IPO would now be worth approximately $35k.”
- 5. Crowdfunding Crowdfunding • Crowdfundingis an approach to raising the capital required for a new project or enterprise by appealing to large numbers of ordinary people for small donations • Social Media • Crowdfunding examples • Kiva.org - $212m funding raised, >800,000 lenders, ~500,000 entrepreneurs • Kickstarter.com – 7,496 projects funded, $27m pledged in 2010, runrate $7m/mth
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- 11. Successes Successes • Launched inFebruary 2011 • 6 pitches funded in last 4 months • Over £1.4m raised so far - 1 business raised over £1m • Nearly 6000 registered investors
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Editor's Notes
- #6 Kiva - Despite being only 39 months old it has raised over $87m, funding over 213,000entrepreneurs. They have over 500,000 lenders worldwide.Ebbsfleet United Football Club was bought by approximately 26,000people each paying £35 - £910,000Zopa - have over 300,000 members and total disbursals have reached £50m.