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CROWDFUNDING: THE FUTURE OF SPORTS?

In a few months, the winter 2013 edition of the World University Games could become the first major international sporting event to rely on crowdfunding as a means of event support. Set to run in Trentino, Italy, from December 11-21, the event currently has a very modest $500 “proof of concept” goal on Indiegogo. Funds raised through Indiegogo will go towards any of 12 outlined projects supplemental to the games, including support for international volunteers and an ice skating/electronic music party for the athletes. Trentino 2013 is also hosting its own nearly $300,000 “Crowdfunding Challenge” in addition to the Indiegogo campaign, which still has miles to go with just over $1000 raised so far – probably not enough for that party they have planned. What began on the internet as a niche method for artists to fund their projects, crowdfunding has burrowed into the general lexicon and exploded into a $2.7B industry in 2012. Swimming fans will remember pre-Finis-sponsorship Anthony Ervin‘s extremely creative (and more importantly, successful) $10,000+ Indiegogo campaign to cover his 2012-2013 World Cup expenses. In the past several years, crowdfunding has seen a boom in athletic-related fundraisers – sites like RallyMe, Sportfunder, iSupportSports, and many others have […]

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