Crowdfunding is one of the runaway success stories of the modern digital economy. In 2015 alone, the fundraising method raised over $34 billion globally. This year, it is predicted to overtake Venture Capital investment entirely. Although it is not without its drawbacks, crowdfunding is rapidly maturing into one of the most sure-fire methods of securing capital for a project or startup.
To give some perspective on how far crowdfunding has come: in 2013, crowdfunding site Kickstarter provided more funding towards creative projects than the US government’s National Endowment for the Arts (NEA) – approximately US$323.6 million. This feat was especially notable considering the relative age of each institution: the NEA was founded in 1965 by then-US President Lyndon B Johnson. Kickstarter, by contrast, was founded in 2009.
With the capital from coming from the pockets of a global many rather than a local few, there is considerable interest in discovering who is crowdfunding what, where they are based, how much they give, and how often. Shedding light on some of these mysteries is ChoiceLoans, which has produced a handy infographic summarising ten insights on crowdfunders.
Drawing from Kickstarter data from 2014, these include:
- The gender ratio of project backers, and their preferred project types.
- The most enthusiastic participants by country/region.
- Statistical breakdown of backer incomes and education background.
- Average contribution amount and number of projects backed per person.
- The top motivations for participating in a crowdfunding campaign.