Crowdfunding Malaysia

CROWDFUNDING, A New Way Of Fundraising (Part 2/2)

PitchInPitching Your First Idea

How a crowdfunding process work is the project owner will first have to pitch their idea, thereafter it will be listed on the crowdfunding website with the funding goal stated and also time frame required.

Current practice of the local crowdfunding sites, the project owner is either successfully obtain the support or fail to meet the funding goal within the time frame. If the funding goal is only achieved, say 30%, after the fundraising period is over, project owner will not get any funding at all!

Additional Crowdfunding Models In Overseas

The above crowdfunding model is All or Nothing. However there are two additional models which are available in overseas :

  • Keep It All – This model is opposite to the All or Nothing. Project owner will eventually obtain the fund regardless the goal is met after minus the commission. Project owner has an option to decline it if the goal is met partially; and
  • Bounty – The funds are given if the project is completed.

KickStart MalaysiaCrowdfunding is still a very new in Malaysia, we can’t expect too much at this point, let’s establish themselves by the market forces. Indeed, a thousand mile begin with the first step.

Should this be regulated since it is involved money from the public?

Yes and no ! There are many voices on this issue.

Those who agree the call to be regulated as it has an obvious reason to do so because it is involved money from the public. Of course there are cases in overseas where the project owner whom did not initiate the project after the fund is collected.

Those who oppose it shouldn’t be regulated because it will just kill the industry. After all, the idea behind of crowdfunding is to let the crowd to decide. Look further, the fund contributed by the public is usually very little. The amount can be as little as US$5, therefore it may not warrant a regulation body to be established for such.

You already knew a bit of crowdfunding, finally it’s time to introduce few top local crowdfunding sites I have come across. First two is for commercial projects but the last is exclusively for charity or community-based projects.

CreateSpace Independent Publishing Platform Hacking Kickstarter, Indiegogo: How to Raise Big Bucks in 30 Days: Secrets to Running a Successful Crowd Funding Campaign on a Budget (Updated November 2013)
Book (CreateSpace Independent Publishing Platform)

Bitcoin oversupply of Thanksgiving turkeys

by what-to-do-Bitcoining

"The website Assassination Market, a crowdfunding service that lets anyone anonymously contribute Bitcoins towards a bounty on the head of any government official–a kind of Kickstarter for political assassinations. According to Assassination Market’s rules, if someone on its hit list is killed, any hitman who can prove he or she was responsible receives the collected funds.
"Sanjuro’s grisly ambitions go beyond raising the funds to bankroll a few political killings. He believes that if Assassination Market can persist and gain enough users, it will eventually enable the assassinations of enough politicians that no one would dare to hold office

Have Crowdfunding Horror Stories Ruined It For Everyone?  — PropertyOfZack
Have you been burned by a crowdfunding campaign? PandoDaily have published an article regarding crowdfunding and the honeymoon period being over both for the platforms and creators. Read the full piece here and a snippet below after the jump.

The Crowd - Crowdfunding Television The Crowd - Crowdfunding Television
Mobile Application (The Crowd - Crowdfunding Television)
  • Big Marketing Exposure, Affordable Perks, Crowdfunding Campagin Promotions, Joint Press Releases
CxO To Go Publishing Kickstarter Power: The Ultimate Crowdfunding Campaign Kit Also for Indiegogo
eBooks (CxO To Go Publishing)
Andrew Alexander The Ultimate Guide to Kickstarter and Indiegogo: Crowdfunding Secrets Revealed
eBooks (Andrew Alexander)
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