Crowdfunding's Potential for the Developing World

Crowdfunding's Potential for the Developing World

A new report commissioned by infoDev studies the promise and the risks of crowdfunding as a tool to finance innovation and growth in developing countries. It also provides an in-depth case study of crowdfunding’s potential in funding clean energy and climate technologies.

Crowdfunding—the practice of raising funds from multiple individuals via the web—first emerged in an organized form in the low-investment environment of 2008, and has quickly grown into a multi-billion dollar industry projected to reach $5 billion this year, channeling funding to hundreds of thousands of ventures globally.

Crowdfunding combines the traditional practice of raising funds from friends, family and community for projects or business launches, with the power of the Internet, mobile technology, and social networks to drive donations and investment. It essentially democratizes financing, putting the decision to fund new ventures in the hands of the communities and customers who would benefit the most.

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