Crowdfunding in Malaysia
Have you heard of services like GofundMe, Kickstarter or Indiegogo? Have you also heard of the stories of users of those services where one person managed to get over $50,000 for a friend with a stutter? Or how a young boy was given almost $40,000 due to his earnest work ethic?
These services are crowdfunding services. Can Malaysians use the service too? If not, what other alternatives do we have to get donations or capital for your private business? This article will discuss crowdfunding, and also on how us Malaysians can use them.
What is Crowdfunding?
Crowdfunding is a coined term, merging the words “crowd” and “funding”, and it is a platform where through the connection of the internet it allows an individual or a group of them to ask for assistance or to achieve dreams by allowing contributions in the form of funds from other individuals who are willing to help.
Crowdfunding has its own types too, some crowdfundings are more personal, like helping someone in need, or realizing dreams. While some are looking for more investors to supply them with capital for their business ideas. We have separate articles on crowdfunding for you to read:
- What is Crowdfunding?
- How to choose a crowdfunding platform
- Is Crowdfunding Right For You?
- Safeness of Crowdfunding
So how can I use it?
Well, the bad news is these international platforms have country restrictions. For example as huge as Gofundme is, they only support 19 countries. So how do us Malaysians start our own crowdfunding projects? The good news is that recently there are a lot of crowdfunding sites created for Malaysians to use. And a piece of better news is that we have compiled some of those services for you to consider!
100% project is a crowdfunding platform that is specialized to education purposes in Malaysia. Some examples of projects that they have running are funds to buy projector equipments in rural schools, or repairing the rooftops of classrooms affected by storms. However, this platform is exclusively to Malaysians, meaning that the scope of projects and also the individuals who supports it is only limited to the country.
Give.Asia, as its name suggests, is a crowdfunding platform focused on Asia, especially Singapore. This platform’s scale of projects range from medium to large-scale. You can expect the target amount needed amounting to 25,000 Singaporean dollars for some projects. It should also be noted that this platform requires a fee to be used, and obviously the scope of usage and also the supporters only covers Asia.
Of course, there is also our very own platform. This platform is 100% free. This platform is operating on smaller-scale projects, where in general the amount needed for projects may range from 100 US dollars to 1500 US dollars. Different from other platforms in this list this platform covers all around the world, where you can see projects from Brazil to all the way to Vietnam.
We have a lot of other sites too, all credited to this amazing list made by thetop10malaysia.
- Pitch Platforms
- ATA Plus
- Netrove Ventures
- Alix Global
- Ethis Kapital
- EdSpace Projects
So which one to choose?
Well it is totally up to you! Pick the one that fits your goal best, and try your best to make the project to attract supporters. Look here on how to choose a crowdfunding platform. Of course, you could also visit these sites to give support to a project that you want!