Propel Arizona: Crowdfunding for CommunitiesPresentation Transcript
Propel Arizona – CJ Cornell @PropelArizona @cjcornell
•What is Crowdfunding? Fact vs Fiction.
•How does it work? & Why does it work?
•How can we use crowdfunding?
•Success & benefits: For entrepreneurs & communities
Beyond the headlines and hype:
How can crowdfunding help our economy?
CJ Cornell is ...
First, let’s talk about …
Places to do business …
46th in the U.S.A.
venture capital, equity investing
We’re Great at
(planting Seeds) **
** and just AWFUL at outcomes –
quality, scale, wealth & economic growth …
WE‟RE NOT THE ONLY
** (fostering entrepreneurial success is hard)
Starting a company
is easier than ever …
… but growing a company is
harder & riskier than ever …
The Series-A Crunch
What is Crowdfunding ?
The safety of crowds
The passion of crowds
The wisdom of the crowds
The Kickstarter model –
2.2 million people pledged a total of
(up 221% from 2011)
Backers pledged $606.76 per minute
People in 177 countries backed a project in 2012
(That's 90% of the countriesin the world)
Crowdfunding is measured in …
Can it jumpstart entrepreneurship?
1. Kickstarter “Fails”
Arizona does poorly …
2. Members =/ Supporters
% of supporters is the key ….
3. Entrepreneurship is Different
Products, Companies, Entrepreneurs
4. The role of “Ecosystem”
Incubators, accelerators, mentors etc ..
5. The power of Community
Shared Goals, Passions, Outcomes …