Sometimes we tend to forget about the real effects of crowdfunding around the world. There are many inspirational stories every day about how crowdfunding has helped someone in their life. Whether it’s someone trying to start their own business or a person that needs to raise money for their health concerns. There are many platforms that people can use to run their campaigns. Depending of course on the project or location.
Especially in developing countries do people struggle more, to find funds for any kind of project or venture. There is a lot of opportunity and even for foreigners to get involved, whether it’s an investment, reward or simple donation. Here is a great example of a niche platform called Womentum that makes it easier for women entrepreneurs to find funding in otherwise challenging situations. For anyone living Uganda and Ghana the conditions can be challenging, platforms like these can help launch new innovations as mentioned in the example.
China leads the developing world in Crowdfunding potential. This illustrates the crowdfunding potential in the developing world, by region, in $U.S. billions. While rewards and donation based crowdfunding platforms have thrived more. In the last few years there have been a lot more changes in regulations varying from different countries. Equity crowdfunding has emerged as an very popular way of funding projects as well.
There is a lot of opportunity in developing countries for growth using different crowdfunding methods. Crowdfunding is an innovation in entrepreneurial finance that can fuel economies. Drive innovation itself and create new jobs. It can also bring foreign investment into the local economies. Currently we are seeing many more platforms adapting to their environments and helping people launch their campaigns.