There used to be a time when, if you wanted money to create public art, produce your invention, or start a company, you had to appeal to higher authorities. Big banks, wealthy relatives, local governments—they had the green, and we the humble innovators had to prove we were worthy of it.
Thanks to the internet and the rise of collaborative consumption, however, this bureaucratic bottle neck need no longer stifle our entrepreneurial spirit. Ever heard of a little startup by the name of Kickstarter?
What’s setting the latest crop of crowdfunding platforms apart from the rest is a passionate focus on local projects. Instead of looking for backers in all four corners of the world, these hyper-local fundraising outlets are helping to connect local entrepreneurs with their neighbors in an attempt to energize local economies, and create lasting relationships between innovators and their supporters.
Beth Buczynski, “Crowdfunding Goes Hyper-Local.”
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