According to investopedia the definition of ‘Crowdfunding’ means the use of small amounts of capital from a large number of individuals to finance a new business venture. Crowdfunding makes use of the easy accessibility of vast networks of friends, family and colleagues through social media websites like Facebook, Twitter and LinkedIn to get the word out about a new business and attract investors. Originally crowdsourcing was used to describe the service. It has the potential to increase entrepreneurship by expanding the pool of investors from funds from the traditional circle of owners, relatives and venture capitalists. There are also sites where individuals can raise finances for a personal project/mission. Finding eco-friendly investors is just one more way for those who want to help save the planet can achieve their goals and create important change, one campaign at a time.
“Crowdfunding websites helped companies and individuals worldwide raise $0.89 billion from members of the public in 2010, $1.47 billion în 2011 and $2.66 billion in 2012. In 2013 the industry is projected to grow to $5.1 billion. (from which $1.6 billion was raised in North America)” states Wikipedia.
Five Eco-friendly crowdfunding sites to check out:
- Greencrowd, which exists to fund green and sustainable projects. In a nutshell it is a new crowdfunding site that exclusively supports environmentally friendly projects. Crowdfunding allows anyone, anywhere in the world, to donate and collect funds for any profit or not-for-profit project. We are unique because we’re only interested in projects that are green and sustainable. We have three main
- GreenFunder is a global fundraising site for socially responsible projects and businesses. To GreenFunder, green is ‘anything with good intentions’. Projects range from simple student field trips to complex green business start-ups. The site is designed to help anyone – entrepreneurs, nonprofits, teachers, and kids – get the funding they need.
- GreenUnite (USA)-The second crowdfunding platform launched by Crowdnetics, GreenUnite aims at funding US-based eco-friendly projects as well as educating the world about green topics such as global warming, cleantech and organic gardening. GreenUnite charges 9% over all the received contributions including credit card processing and administration fees.
- Greenvolved-Click on green projects you believe in and your voice reaches powerful corporations looking for green projects to sponsor. When a project wins enough votes, it gets funded. By clicking once, you can save an endangered species, clean up the ocean, or support the invention of a new green energy source. It’s the only site where NGOs, corporate sponsors, and people who care about the planet can create a greener future together.
- Sunfunder-Their mission is to source and deploy low-cost financing for solar projects to make clean, safe, affordable energy accessible to all. –
American Express reported five crowdfunding success stories worth repeating.