April 10, 2014 by Aaron Scott Young
The first major crowdfunding event took place in 1886, when the Statue of Liberty first arrived in New York in pieces. It took one man and a community to raise the money needed to erect this magnificent symbol of America. In fact, it took 121,000 people making small incremental contributions to raise the $100,000 needed to erect the statue.
Crowdfunding today is based on the same premise as it was back in 1886. The big difference is the use of the internet to develop strong on-line social communities where people are raising millions of dollars to launch a business, help a cause, produce movies, author books, and even send rockets to the moon.
Crowdfunding is allowing innovative businesses, that would have been stopped dead in their tracks due to lack of funding, an alternative way to generate the money they need to launch and grow.
The ability to raise large amount of capital through crowdfunding has proven it has no end to the type of industry it can benefit: from film, fashion, gamers, and real estate investing, publishing, non-profits to technology. In fact, last year the amount of money generated through crowdfunding efforts exceeded $5 billion dollars and is expected to grow 92% this year alone.
In 2020 crowdfunding is projected to generate 20 million jobs. Wait, let’s repeat that, 20 million jobs! This is not a passing fad. The old school ways of taking on debt, leveraging your credit cards or mortgaging your home to launch your dream are not your only option.
“Crowdfunding offers hope to millions of creative people who, with the help of their social networks and grass roots connections, will create, invent and deliver revolutionary products and services that will fuel the next economic boom. “ Aaron Young, CEO of Laughlin Associates.
Aaron Young will be one of the featured speakers at the 3rd Annual Crowdfunding Global Bootcamp. This year’s event will be held at the beautiful Westin Resort and Spa at Lake Las Vegas.
This event will feature the largest gathering of crowdfunding superstars, social media experts, investment bankers, marketers, financial advisors, and tax, legal and regulatory experts in the industry.