At our last Startup Grind meetup of 2018, the Director of Business Development at Wefunder, Jonny Price, shared some of his insights on crowdfunding. Crowdfunding relies on a group of many investors who believe in a project and are willing to provide funds, usually small amounts, to support the project. The process is most often initiated on the internet and run as an online campaign. Not only is crowdfunding a great way to raise funds in the early stages of product development, it also functions as a platform for “match making” or pairing up innovators with the right investors online. One of the most important tips he shared for new entrepreneurs was that founders must be willing to put in the work to make the campaign a success. This means spending time on the front end to carefully articulate the product, market opportunities, and business plan so that the campaign gets traction early on.

 

Fireside chat about crowdfunding with Fremont Startup Grind Chapter Director Gaytri Khandelwal and Director of Business Development at Wefunder Jonny Price.

 

Speaking to an audience of 30 interested startups, Jonny went on to explain that crowdfunding is not for everyone. It works best for companies with a large audience of customers who are passionate about the product and/or company and would jump at the chance to invest in them. The fireside chat proved to be an engaging discussion, and attendees walked away with a clear sense of crowdfunding and what it entails — a lot of time and commitment!

With 2019 now in full swing, Startup Grind Fremont will continue to bring engaging speakers to the community. On February 26, entrepreneur Jai Rawat will be discussing marketing strategies for startups. As a successful innovator, Jai has authored many patents and is one of the founders of Zinrelo, a company providing fully customizable loyalty rewards programs. Zinrelo has a diverse clientele from retailers to event producers, including producers of marathons, and each reward program is customized not only for the company, but for the customer as well. It’s bound to be a fascinating discussion on a topic that is always evolving. If you’re interested, register at https://www.startupgrind.com/events/details/startup-grind-fremont-presents-marketing-strategies-for-startups-that-deliver-results/#/ before February 25 to get the discounted rate.