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What is crowdfunding, can it be something for my project?

2 October 2018 - 14:16

Crowdfunding, or participative funding, is one particular option to find funding because it allows individuals to invest directly in the projects that are of interest to them, in general via a crowdfunding platform, without having to pass through the traditional funding options (e.g. banks, investment funds, etc.).

How does it work?

This funding method has developed itself on the internet, through platforms where project leaders present their ideas, and everyone who is interested, can invest. Support can be given in many different ways, depending on the projects and the platforms, and can consist in gifs, preorders, loans or capital investments.

In order to reach its objectives, the project leader needs to launch a crowdfunding campaign with, most often, the aid of a video pitch in order to reach a maximum amount of people to gather the desired amount of funding. This method is often a marketing tool at the same time: the crowdfunding campaign can be used to get your product out there and to benefit from the ‘virality’ effect.

There exist plenty of platforms which put project leaders in touch with investors. The nature of the project and the desired amount will define which platform is best adapted to your project.

Our experts at lifetech.brussels can help you to determine whether crowdfunding can be a good option for your project and put you in touch with crowdfunding specialists.

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