Crowdfunding

“Shut out by belt-tightening venture capitalists and dwindling grant programs, thousands of entrepreneurs and artists are turning to a new way of raising money that doesn’t depend on who you know” (http://pajamasmedia.com/instapundit/120351/). The daunting task of funding a large scale social innovation project can hinder an idea in its beginning stages. These social innovators can now petition their peers, along with the rest of the world, for funding. Crowdfunding sites such as IndieGoGo and Kickstarter allow innovators and entrepreneurs to fund projects without having to decide which end of the “Spectrum of Social and Financial Returns” should be approached. By using these sites which are targeted toward individual donations, projects do not have to appeal to or convince and entire department or organization of their worth. Often, the more you contribute to the idea, the more input you could contribute to an area of your interest. For example, Project Generation D based in Atlanta provides students with the tools needed to flourish in the in the creative digital arts, allows anyone who donates $1,000 or more to sit on their board of directors (http://www.indiegogo.com/Help-PGD-Serve-More-At-Risk-Teens-in-the-Atlanta-Area). Crowdfunding sites allow for individuals to fund a wide range of products and ideas that may viewed as controversial by some organizations.