propel arizona: crowdfunding for communities
TRANSCRIPT
Widows & Orphans Homeless
Financial
Armageddon
Disruption
An Economic DevelopmentPhenomenon
Funding for entrepreneurs!
Fraud & Scams?
CROWDFUNDING has arrived!
revolution!
Propel Arizona – CJ Cornell @PropelArizona @cjcornell
Crowdfunding
• 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?
serial / parallel entrepreneur
• 10+ companies
• $250M Funding 4 Exits (great !)
• $3B Revenues 4 Failures (awful !)
• Lots of lessons. Chaos, Pain and Joy.
• EIR, Venture Partner
• Angel Investor
• 5 Companies
• 9 Boards
• 3,000 Tylenol Caplets.
• Ego and Brain Atrophy.
Investor, Venture Capitalist
CJ Cornell is ...
• Professor of Digital Media & Entrepreneurship• Arizona State University, SJSU, Stanford (Lecturer)• New York Institute of Technology • Knight Center for Digital Media Entrepreneurship• Research in digital media, behavior, entrepreneurship
University ProfessorAdvisor, Mentor, Author
• ASU – Skysong, Venture Catalyst, RSS etc
• Arizona Commerce Authority / Venture ready
• Arizona Innovation Challenge
• Book: Age of Metapreneurship. Blog/Articles
First, let’s talk about …
Entrepreneurship &
Arizona
1 #
AZ Entrepreneurship
10top
Places to do business …
46th in the U.S.A.
venture capital, equity investing
We’re Great at Starting up (planting Seeds) **
** and just AWFUL at outcomes – quality, scale, wealth & economic growth
…
WE’RE NOT THE ONLY ONES …
** (fostering entrepreneurial success is hard)
Concept to Product to Growth
The Funding Gap
Concept to Product to Growth
Starting a company is easier than ever …
… but growing a company is harder & riskier than ever …
The Series-A Crunch
Concept to Product to Growth
Concept to Product to Growth
Concept to Product to Growth
Concept to Product to Growth
What is Crowdfunding ?
The safety of crowds
The passion of crowdsThe wisdom of the crowds
Crowdfunding
Crowdfunding
Source: http://theyec.org/making-sense-of-the-jobs-act-and-crowdfunding-infographic/
• Source – http;//crowdfunder.com
5 April, 2012 (and … AugUst 2012, December 2012 …)
0
Equity (investment) crowdfunding in US
cases
2015
Equity crowdfunding practical in US
0
FRAUD
cases
Rewards based,
“contribution” crowdfunding
The Kickstarter model – ‘donations’
“The Kickstarter Model”
Kickstarter (2012)
2.2 million people pledged a total of
$319,786,629
(up 221% from 2011)
Backers pledged $606.76 per minute
People in 177 countries backed a project in 2012
(That's 90% of the countries in the world)
The Real(Crowdfunding)
Why’s
emotional ROI.
daysCrowdfunding is measured in …
Entrepreneurship
Crowdfunding Arizona
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 …
Shared Goals, Passions, Outcomes …
Crowdfunding for Entrepreneurship & Economic Growth
Shared Goals, Passions, Outcomes …
People as Important as Projects …
Organizations & Affiliations …
Entrepreneurs success as much as funding …
$15k - $100k *(Average $50k) ….
Crowdfunding for Entrepreneurship & Economic Growth
