Hong Kong Crowdfunding: Strong Potential Requires Action

By Henry Flood

As one of the world’s leading financial investment centres Hong Kong has tremendous potential in the field of crowdfunding. They are looking to capture a slice of the international crowdfunding market as part of a broader plan to develop their Financial Technology industry.

As part of their development drive Professor K C Chan, Secretary for Financial Services and the Treasury, as well as Chairman of the Steering Group on Financial Technologies, released his report on the Hong Kong Fintech industry earlier this year. He is buoyed by the opportunity for crowdfunding growth and wants to improve how innovation and the supply of technological talent are viewed in the region.

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Meefund’s Reward Crowdfunding Eyes Up Asia

By Tadhg Walker

Meefund came to life in September 2015. A group of Thai management and business consultants knew Fintech was more than the latest trend, and with their core competency being new business, started Meefund to capitalise on crowdfunding.

It has long proven difficult to attract funding for ventures in Thailand. Banks are unwilling to lend without collateral. Venture Capitalism has never taken off in Thailand. Meefund’s founder and Chief Hunting Officer Tony Boontanorm explains: “The government [from its Venture Capital fund] will give out money and not get a return. They put money into projects but they fund the wrong projects. They do not know how to find the innovations.”

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Starting Something Good Has Never Been Easier

Traditional funders, whether they be governmental or corporate, often look to proven models to solve continually changing problems. Innovative solutions that create social impact, therefore, cannot get the required funding to reach their potential. Innovation is stifled before it has begun. Starting something good proves more difficult than it should.

The funding gap for social impact projects, and recognition of how sites like Kickstarter revolutionised bringing creative projects to life, led Tom Dawkins to found StartSomeGood in 2011 with Alex Budak. Now it is a platform that has raised over $6 million and had over 550 projects in 35 different countries. Recently it also picked up the Innovation Award at Australian and New Zealand Internet awards. StartSomeGood has become the crowdfunding platform where innovative ideas can come to life to create social change. It allows more democratic solutions to social problems by involving the community in decision making. Crowdfundvibe sat down with CEO Tom Dawkins to talk about creating change, the developing world and what they’re excited about for 2016.

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