The speed at which crowdfunding has moved beyond the original creative project model (e.g Kickstarter or IndieGoGo) has been frantic. However, this has somewhat obscured the meaning of what crowdfunding connotes.

I thought this Business Insider article on medical crowdfunding sites (http://goo.gl/zKlrM9) an interesting perspective. It mentions GiveForward.com, ‘a crowdfunding site tailored for people in needed of health care funding.’

GiveForward.com is an excellent site which undeniably serves the needs of its users beyond the monetary. But, in my opinion, I’m slightly uneasy with categorizing it under crowdfunding. Why? Crowdfunding through a rewards process (e.g. Kickstarter) or through a security investment process (e.g. Crowdcube) has an end tangible product which the crowdfunder benefits from. Some could argue that, in this case, the crowdfunder benefits from the merit bequeathed to the crowdfundee. But I think an intangible end product as the beginning of the slippery slope. So, in the case of GiveForward.com or any other site which follows the same model, I prefer calling it crowd sourced altruism.

Just my two cents.

Advertisements