Solutions created by start-ups need funding to kick-start them.
Created by entrepreneur Michael Sullivan in 2006, crowdfunding is one of the fastest growing sources of funds for any new venture. It is a method of funding a venture or project through the collective efforts of family, friends, customers and individual investors. There are many crowdfunding platforms or websites that investors can use. Crowdfunding is a particularly well-suited idea for any green business.
In 2008, Danae Ringelmann, Slava Rubin, and Eric Schell of San Francisco, California launched an “all or nothing” crowdfunding website they called “Indiegogo.” Powered by curiosity, the Indiegogo community has helped bring more than 800,000 innovative ideas to life since 2008.
Today, Indiegogo’s group of backers is more than 9 million strong, representing 235 countries and territories. While it covers every industry, it has a section called Environment. With the right idea, entrepreneurs have reason to be optimistic.
Among successful Indiegogo campaigns for green businesses: Crowdcube electric carpooling club; Powervault for its its domestic electricity storage device project, Sondors Electric Bike and more.
What you can do: If you are planning to create an eco-friendly start-up, use firms such as Indiegogo.
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