28 Jan '13, 8am

Singapore's Crowdonomic launches to help startups raise money. But how viable is #crowdfunding as a source of #funds?

Singapore's Crowdonomic launches to help startups raise money. But how viable is #crowdfunding as a source of #funds?

Crowdonomic, the latest crowdfunding site from Singapore, launches to help startups raise money. But how viable is crowdfunding as a source of financing? Earlier last week, Crowdonomic launched as Singapore’s first professionally run reward-based crowdfunding service, with 6 fundraising campaigns by home-grown start-ups, each targeting to raise up to S$30,000 from their supporters. With the reward-based crowdfunding platform, startups raise funds from the public and reward their supporters in various ways, for example by granting early access to the next release of a popular game or a new product. Leo Shimada, founder of Crowdonomic, shared that their ultimate goal is to help entrepreneurs address a key pain point: the funding gap. Since the market, or “crowd,” decides who to fund, it offers a more democratic alternative to how capital is allocated. Leo also claims to have...

Full article: http://e27.sg/2013/01/28/crowdonomic-is-singapores-latest...

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