Startups Look To Crowdfunding For Needed Capital

PetChanceCrowd funding has taken off over the past three years, driven largely by musicians and artists raising money for albums or projects.

But startup companies and entrepreneurs in Central Massachusetts, drawn by a decidedly unique way to raise extra capital, have started to employ the strategy to fund their projects.

In recent months, an established music tech firm in Whitinsville, as well as a tech marketer trying to launch a business incubator in MetroWest, have run crowd funding campaigns online. And an entrepreneur in Westborough has created his own crowd-funding software that’s fueling his nonprofit business to help pet owners in need.

Crowd funding, defined as an open call over the Internet for financial resources in exchange for future products, services or rewards, is one of the newest ways startups can get seed money, and it’s unique from other funding sources.

Read More at Worcester Business Journal Online