LO2: Crowd Funding and Crowd Sourcing

Crowdfunding - When you appeal to the public to gain funding 
Crowdsourcing - When you appeal to the public to gain equipment and personnel

Globalisation is the process of international integration arising from the interchange and exchange of products, ideas , politics and in particular, popular culture.

Globalisation is also seen as a way in which international boundaries that once existed are broken down by the advent of new technologies (web 2.0/social media)


Globalised companies:

- McDonalds 
- Starbucks 
- Disney 
- Bollywood 
- Friends


Global reach is the way in which a product has the potential to reach a global audience owing to new methods of distribution and marketing (i.e. the internet and VOD services)

Global Village is the idea that physical boundaries between countries appear smaller owing to new media technologies and that because of this the world is actually one big village where everyone can communicate to each other in an instant. The theorist who discussed this originally was Marshall McLuhan (1964).

Crowdfunding is the online appeal to a wider audience to find financial support for an upcoming project for which you may not have the appropriate funds. With the development of Web 2.0 it has now become a possibility for us to become a part of a Global village - this means although an idea for a project may come from here in the UK, a investor in the US would be able to contact with and support your idea through the production process. We are no longer limited to those around us due to the breakdown of physical boundaries between countries.


Crowdsourcing is a form of gaining people and equipment for a project should you not have the available materials to do so. This is effective because of Global reach - we are now able to reach people all across the globe which widens your potential sponsorship audience.



Kickstarted was launched in 2009, it is where a project can get the financial support it needs to get off the ground.


-PonoMusic
-Veronica mars movie project
-Pebble time 
-Exploding kittens



GoFundMe is about funding community projects and being altruistic

http://ignitiondeck.com/id/10-crowdfunding-secrets/


Crowdsourcing tools:


needle

field agent 

SpigitEngage

compendium


Product that was crowdfunded:

Coolest cooler was a crowdfunded project which was funded using online tool 'Kickstarter'. In August 2014 the project raised $13,285,266 from 62,642 funders which centres around a smart chiller that incorporates an ice crusher, Bluetooth speaker and USB charger. The idea behind this Kickstarter project was to produce the 'coolest' cooler on the market which is suitable for the modern day picnic - Alongside the cooler itself, owners of this piece of kit can purchase additional accessories such as melamine plates, chopping boards, corkscrews and knives , all available in the chosen colour you purchased your cooler in. These accessories range from $9.99-$39.00 per item alongside the original cooler price of $399.00 which makes this handy picnic tool worth the original $13,285,266 invested in the idea some 3 years ago.

Initially the kickstarter project failed to meet its proposed target which enabled the product to begin production, however with thanks to WEB 2.0 and global reach/villages - people from all over the world were able to browse the proposed idea and offer whatever funding they could toward an invention they believed would be successful on the market today.