Crowdsourcing and crowdfunding

In a time when small and medium size companies and families alike are having to cut back on non-essential spending, it can be more difficult than ever for startups to get the required funding to make a brilliant idea into reality.

But instead of asking a small number of people (like the dragons) for a large sum of money, what if you could ask a lot of people to help and each only contribute a small amount?

This is exactly what crowdsourcing websites like Kickstarter offer. Those websites provide a platform where you and I, the general public, can each add a small amount of money to support an idea or project we really like.

What a brilliant idea! This way, new startups can secure initial funding more easily, knowing that people actually like their idea. How you sustain the business after this initial "kickstart" is another matter, but at least more seeds are being planted and ideas are being turned into reality.

My initial reaction after learning about crowdsourcing was that perhaps charities and research labs should adopt similar ideas to fund their projects. Relying on funding from government agencies and corporate companies just seems so detached from the general public. What better way to engage the public than to ask them to review the projects and request their support? Plenty of people would be interested in getting involved in research topics on cancer and heart disease, and charitable projects with clear goals such as building schools or water facilities for poor local communities.

The crowdsourcing idea also reminds me of the National Lottery to some degree. I remember when I was a lot younger, I had the most brilliant idea about how to create millionaires (and hopefully they would do something worthwhile with their money). I thought, if each person in the population contributed a tiny sum, for example $1 each week, and this money was then given to one family, then potentially we are creating a millionaire every single week! It sounds daft I know, but that is the idea. This is why I have always thought the National Lottery really is a brilliant idea (rather controversially, I don't think many people would agree with this) because you are enticing the general public to contribute a small amount of money, creating millionaires in the country and having leftover money to fund national or research projects. OK, so gambling is not the best incentive, but I challenge you to find a better one that will work.

Those ideas show that a society, the general public, can come together and with a small contribution from each person, it forms a formidable force to make something happen - I love it. Check out the website and perhaps support a project or two that you like?

*********

Do you use wifi in public places or travel abroad often? Do you worry about cyber security? Get added security with a reliable VPN.  Get a reliable VPN today for less than £3/$5 a month.