2.6.3 Crowdfunding and Other Fundraising Platforms Are as Valuable For the Opportunity They Give Entrepreneurs to Build a Network and Raise Their Visibility, as They Are as a Means for Raising Funds
Before aspiring entrepreneurs post their ideas on Ideame for fundraising, they work with the in-person team on how to “pitch” their idea, and also have the opportunity to browse and benchmark their marketing and fundraising proposal versus others on the Ideame site. In addition, once posted, entries are visible to Ideame’s over 140,000-plus strong network, which includes many prominent investors and social entrepreneurs.
Ideame, launched in 2011, is bringing online crowd funding to the Latin American market, with operations established in six countries, and it plans to expand to three more in the next three years. Ideame supports three categories of ventures, with support to date distributed almost evenly at 40 percent, 30 percent and 30 percent respectively:
1. Creative: Film and video, music, visual and performing arts, publishing, design, and fashion projects
2. Ventures and Businesses: New businesses and product launches
3. Philanthropy: Social impact, NGOs and social development projects
The impressive growth of Ideame, with 300 projects funded at $1.4 m USD by over 25,000 contributors illustrates the potential of crowding funding across international markets. Ideame’s CEO, Luis Ortiz Gross, an enterprising youth, noted that in 2012 the global market for crowd funding was sized at $2.7 bln USD.
The exposure and support that Ideame clients receive may ultimately for many prove as valuable if not more than the funding received. Currently there are over 140,000 members in the Ideame online network, including many prominent social leaders and corporations. Via the experience of fundraising via the site, Ideame’s clients learn how to pitch and to market their ideas, and to gain access to a social network with whom they can collaborate.