Crowdonomic, the latest crowdfunding site from Singapore, launches to help startups raise money. But how viable is crowdfunding as a source of financing?
Earlier last week, Crowdonomic launched as Singapore’s first professionally run reward-based crowdfunding service, with 6 fundraising campaigns by home-grown start-ups, each targeting to raise up to S$30,000 from their supporters. With the reward-based crowdfunding platform, startups raise funds from the public and reward their supporters in various ways, for example by granting early access to the next release of a popular game or a new product.
Leo Shimada, founder of Crowdonomic, shared that their ultimate goal is to help entrepreneurs address a key pain point: the funding gap.
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