Founder Series: Rick Chen of Pozible
Crowdfund Vibe spoke to Rick Chen, co-founder of Pozible, about crowdfunding awesome stuff and its future.
CFV: What motivated you to start a crowdfunding platform?
RC: The passion to see great project come alive, to offer an alternative funding sources help achieve that goal.
How well known is crowdfunding in Australia? What is the coverage on crowdfunding in the traditional media?
Crowdfunding is growing very healthily in Australia, mainstream media have mostly covered crowdfunding as a valid way to fund projects. The likes of government agencies, investors, peak bodies also see crowdfunding as a way to proof concept.
Do charities and/or social causes use crowdfunding where you operate? What about startups? What different things do they want from a crowdfunding platform?
There are a wide range of projects on Pozible, from charities, to social enterprises to startups. Main purposes to crowdfund are mostly engage with audiences, raise awareness besides the funding part.
What is the government’s attitude to crowdfunding? How do you view the regulations on equity crowdfunding (if any)?
Government’s attitude on crowdfunding are pretty good here, we works with a wide range of funding bodies to use crowdfunding as a mechanism to help raising further funds, help with projects. One example is with ScreenWest (Western Australia film funding body), we did a $3 to every 41 raised matchfunding with them, the result was very well received.
Equity crowdfunding is currently on the agenda for our government to facilitate, it is a potential area we are watching very carefully.
Who are the main users of your service?
Raise funds, pre sales of products and services, raise awareness and engage with audience/fan base.
What is the largest fundraise that has occurred through your platform?
A smart watch from Shanghai raised just over $1million AUD.
What is the most interesting project that Pozible has funded?
What are the most innovative rewards that projects have offered through Pozible?
This is actually a difficult question, there are all sorts of innovative reward offered on Pozible. But I quite like projects using reward system as a collaboration tool with their audiences.
Where do you see crowdfunding in 5 years time, both in your country & globally?
I think crowdfunding will become more main stream, be a component or a part of what other people do, that’s the reason we built Pozible Base – a white label crowdfunding platform solution while still allow each platform to plug into Pozible’s existing user base for more info.