Can a crowdfunding site succeed in China? If a new company can get the attention of a small percent of China’s more than 1.4 billion people, the impact could be huge, and the revenue even bigger. Still in private beta and launching in early December, FundingDream is an all-or-nothing setup resembling the Kickstarter model. Campaigns are funded and contributors charged only if they meet monetary goals.FundingDream will focus on socially conscious projects, businesses and charities, applying a 10% fee to collected funds (Kickstarter takes 5% of total raised funds when goals are met). Project creation or backing is open to anyone, as opposed to Kickstarter which just allows creators from the U.S., UK, and Canada (New Zealand and Australia are on the way). This isn’t the first crowdfunding operation in China. Competitors include DreamMore and Demo Hour. The difference, FundingDream cofounder and CTO Joshua Jackson says, is his site’s streamlined design (pages are in Chinese and English), socially conscious focus, and the audience. FundingDream, which is registered in the U.S., is open to donations and project creation from anywhere. Other Chinese crowdfunding sites aren’t. Jackson says his site will be a good fit for a more ambitious generation of Chinese entrepreneurs that wants to make a more global impact. “1.4 billion […]
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