Crowd funding supply inventive comes in China

Selling your dreams to those that have do not even understand you? that is precisely what is happening within the net age.

When Jia Yuhao, the owner of a hostel, thought of furnishing his hostel last year, he announce a fund-raising advertizing on demohour.com.

Two months later, he received 146,000 yuan ($23,725) from three,000 those that he is ne'er met. In return, all of them received membership cards for Jia's hostel in Lhasa, capital of Asian nation autonomous region in southwest China.

Jia is one in every of several Chinese entrepreneurs United Nations agency area unit taking advantage of crowd funding, Associate in Nursing innovative method of raising cash for his or her businesses.

Crowd funding comes area unit sometimes displayed on websites selected for the aim, with a fundraising goal and point in time. those that just like the project will pay to support it.

Project initiators should reach their funding goals to receive the cash. Supporters area unit rewarded with service or merchandise. The websites charge fees of up to ten p.c of the funds raised.

First introduced within the u.  s., crowd funding websites became more and more fashionable among business individuals in China.

"Crowd funding has created it easier for normal individuals while not abundant cash to start out their own corporations," same Zhang You, co-founder of Demohour.

Launched in Gregorian calendar month 2011, Demohour is China's initial crowd funding web site. it's been followed by dozens of others, together with Musikid.com for music comes, Tmeng.cn for moving-picture show producers and Emielife.com for designers.

"I was galvanized by the large success of Kickstarter.com, the foremost important crowd funding platform within the United States i feel Chinese individuals conjointly want such a chance to appreciate their dreams," same Zhang.