Crowdfunding Seen Providing $65 Billion Boost to the Global Economy

Entrepreneur, 16.01.2014 - If you’ve been skeptical of all the crowdfunding buzz, consider this: By the end of 2014, crowdfunding is estimated to add at least 270,000 jobs and inject more than $65 billion into the global economy, according to estimates from crowdfunding platform Fundable.

In eight months, Fundable has been able to help startups raise $50 million worth of commitments, either in the form of donation-based or equity crowdfunding. In donation-based crowdfunding, an individual solicits funds from a group and in exchange gives a gift, like a tote bag or product sample. Equity-based crowdfunding is where a company sells a portion of its company in exchange for cash. Currently, an entrepreneur can only equity crowdfund from accredited investors who meet standard requirements for wealth. A law has been passed and provisional rules written which, when final, will allow entrepreneurs to equity crowdfund from anyone with the cash and the interest.

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