People acting together to achieve a pre-defined goal is nothing new. It has probably been happening for millennia. What is new, is the means of communicating and arranging for your needs to be met. Instead of relying on geographical neighbours and family we can now achieve similar results with people many thousands of miles away from us. That’s a really powerful concept and one that defines our age.
Before we begin, it might be useful for us to take stock and define what we mean by crowdsourcing and funding. A brilliant definition of these was written by Brian Rubinton in an academic paper he published in 2011.2 He stated that crowdsourcing was:
“…the process of one party progressing towards a goal by requesting and receiving ...