OpenIDEO is an open innovation platform. Join our global community to solve big challenges for social good. Sign Up / Login or Learn more

Government Sponsored Crowdfunding

Using Crowdfunding gives entrepreneurs another avenue to raise money via the internet very much the same way OpenIDEO uses the crowd to "people design better, together for social good". Imagine people investing together for the better...

Photo of DeletedUser
6 5

Written by DeletedUser

Seeing this article and kickstarter.com triggered this inspiration for me. 

You have  great idea you have been working on and you know that your product will sell, but you don't have the money to manufacture this.  Lets call this product Dream One. You get feedback from your marketing research that there is indeed a big market for this and you could make millions.  :-)

However you don't have the capital needed to make this product and get it into the market place. :-(

But wait new government policies and new crowdfunding is now available to help you raise money easily over the internet. People pool their money together to help found your project and you are able to get to market.

Video about "Crowdfunding Bill Passes U.S. Senate": http://www.wggb.com/2012/03/22/crowdfunding-bill-passes-u-s-senate/

Alan Hyman
OpenIDEO Student Chapter at NYU-Poly

6 comments

Join the conversation:

Comment
Photo of Anne-Laure Fayard

Nice inspiration Alan and the OpenIDEO student chapter.
About your comparison with OpenIDEO, I did in fact posted an inspiration on this: http://www.openideo.com/open/web-start-up/inspiration/openideo/
I find it interesting that government policies seem aligned with the crowdsourcing model.

Crowdsourcing is indeed a great model when it comes to funding. You might want to link your inspirations a few related:
http://www.openideo.com/open/web-start-up/inspiration/my-football-club/
http://www.openideo.com/open/web-start-up/inspiration/-crowdsourcing-learning-and-experiences.../
http://www.openideo.com/open/web-start-up/inspiration/babyloan/
http://www.openideo.com/open/web-start-up/inspiration/how-can-we-democratize-early-stage-funding-using-only-4billions-and-create-500.000-jobs/
http://www.openideo.com/open/web-start-up/inspiration/the-big-apple-starts-with-a-few-seeds-local-seed-money-for-nyc-startups/
It might be a good idea to build upon these and invite others to give you feedback on your inspiration.

Photo of Meena Kadri

Tip: Alan, if you hit the Update Entry button on the right of your post you could go in and add relevant posts (like those which A-L has mentioned) to your Build Upon feature. That way the people who wrote them will get an email notification and are likely to come and join the brilliant conversation you've started here as well. Creativity loves company, right? :^)

Photo of DeletedUser

DeletedUser

Thank you Anne-Laure and Meena,
I added the inspirations in the Build upon feature.

Meena,
Is there another way to add them, by using their URL? I see only two ways either by bookmarking or by clicking on the Build Upon button on that inspiration you want to build upon. Also is there plans on adding a draft button?

Thank you for your wonderful comments.

Alan

Photo of Meena Kadri

Hi Alan – you can use the Search field if you go into Build Upon area via the Update Entry button on your concept. This will pick up words in the title plus tags also. So if you search "crowdfunding" "crowd funding", etc you should pick up quite a few of relevant ones.

It also might be a great idea for you to set up a personal profile for future posts and use the OpenIDEO Student Chapter at NYUPOLY profile more for stuff you've worked on as a group. Not a biggie – would just make it clearer who's posting and you wouldn't need to keep signing off your posts with your name ;^)

Great to have you onboard!

Photo of Meena Kadri

And one more friendly tip: to activate links in your post (like the one to the article you mention towards the end) – hit the Update Entry button up there on the right, then follow the instructions here: http://bit.ly/oi_link

Photo of DeletedUser

DeletedUser

Hello Meena,
I did what you have suggested for the last URL, but I got a strange Javascript message that appeared. Weird. Thanks for the suggestion. This post was done as a team. Thanks again Meena.