The dreams of many young entrepreneurs in the making used to end inside a bank, when they were denied the funds needed to start their venture. Luckily, these days, a loan not given doesn’t have to be the end of a potentially great idea. Platforms such as Kickstarter enable creative minds to pitch their idea to thousands or millions of people in the hope of raising the funds needed to realize their vision.
According to Statista’s Digital Market Outlook
, more than 150,000 crowdfunding campaigns were launched in the U.S. in 2016, raising an average of $4,860. While that may not sound like a lot, some lucky entrepreneurs managed to raise millions on crowdfunding platforms to bring their ideas to life. For more information about different types of crowd financing, please refer to our free market report "Fintech: Business Finance