Crowdfunding: The New Charity Organization

We all have seen the success of strange and creative ventures launch through the hands of generous citizens. In 2013, crowd funded was projected to reach $2.1 billion. Today's crowdfunding markets have launched tech products, movies, and even created a platform for citizens to serve as investors for small businesses in developing nations. All at a catch-all gain for the entrepreneur. They get all the funding (at times 10 fold) required to launch or scale and you never have to pay it back or share stake in your company. One company, Pebble, received over $30 million for its watch ventures. That is some serious money to be donated by the average citizen. 

So this leaves me to wonder, what is the future of crowdfunding? How can we tailor it for sustainable impact? 

If, say, we launched a crowdfunding campaign for $10 million dollars to address child hunger in the United States. Structured another $10 million dollars to address malnourishment of children in African nations. Finally, another $10 million to train locals, improve access  and develop clean water resources for Somalia and Jordan. 

In the same price it took to launch a watch company, are we wiling to pay that much for products we cannot touch?

Most people want to make a difference and people are willing to invest in social causes. In that capacity, we can convert charities, and aid organizations into project based crowdfunding initiatives. Each organization would have a specific project with a timeline, impact goals, and proven metrics with a price tag where citizens can contribute. Imagine being able to personally contribute to the UN for the mass production and deployment of shelters for Syrian refugees. We hear much scandal about the misuse of foundation and charity organization’s donations. I believe this will create more accountability and quantifiable impact in nations. However, this will mean a massive paradigm and organizational shift. 

Is the world ready to shake up status quo?