Collaboration of the Masses:Crowdsourcing & Crowdfunding

Laura AmoleApril 2012

The Framework

Crowdsourcing

• the act of taking a job traditionally performed by a designated agent (usually an employee) and outsourcing it to an online, undefined, generally large group of people in the form of an open call

Categories

• Cloud Labor

Categories

• Crowd Creativity

Categories

• Distributed Knowledge

Categories

• Open Innovation

Categories

• Crowdfunding

Crowdfunding

• financial contributions from online investors, sponsors or donors to fund for-profit or non-profit initiatives or enterprises

Evolution

Basic Models

• 3 models:– Donations, Philanthropy, Sponsorship – no

expectation of $ return– Lending– Investment exchanged for:• Equity• Profit• Revenue Sharing

Platforms

Platform Stimuli

• Speed of the Internet• Online workforce• Online International payment– All connected through social media

Popular Platforms

Pros

• Platform serves as a marketing tool• Inexpensive way to raise funds• Generate feedback on the project

Cons

• Can have a limited amount of funding • Exposes project to public – imitators• Funds may be subject to regulations

Success

• Nano Wrist Watch– 6300% Achieved • Goal: $15,000• Reached: $942,578

Chase Community Giving

Pepsi Refresh

Future

Future

Playing games to win college tuition? Yes please!

Future

Credit

• www.crowdsourcing.org• www.refresheverything.com• http://www.facebook.com/ChaseCommunityG

iving