With a couple of recent crowdfunding successes – including the R28m raised by tech firm Integreatme – there is some renewed interest in crowdfunding.
While there is some definite interest in crowdfunding as a mechanism for raising capital for a business, appetite for this still remains relatively low and campaigns are relatively unsophisticated.
Verity Price pushed the boundaries of the music industry back in 2005 when she started the first music crowdfunding campaign in SA to raise R300,000 for the release of her album. Verity was feeling trapped by the limitations of the music industry and instead of complaining further, she pursued a new avenue of raising funds, by asking people to BUY an album online that was yet to be released. This was unheard of in South Africa and it marked the beginning of a truly remarkable journey that slowly started with the support of friends and family to gaining a following 400 sales in the first year and eventually reaching many thousands of sales upon completion.
How did she manage to see such great success as a pioneer in the crowdfunding field that was still a dark and largely undiscovered path? Verity reveals some of the tips and techniques she believes helped her to achieve her goal through Crowdfunding in this interview with Heavy Chef.