Shut out by belt-tightening venture capitalists and dwindling grant programs, thousands of entrepreneurs and artists are turning to a new way of raising money that doesn’t depend on who you know.
In fact, it’s what you do — or plan to do — that can make or break success in the world of “crowdfunding,” which allows anyone to raise money with online video and blog pitches. Through sites like Kickstarter.com and Indiegogo.com, the top crowdfunding conduits in the U.S., donors big and small can contribute to projects that catch their eye.
“At a time when it’s very challenging to get money, it democratizes the process,” said Tory Johnson, 40, a small-business expert and founder of Spark & Hustle. “People you don’t even know will give you money.”
Johnson says crowdfunding is an essential tool that she teaches in a series of regional conferences for female entrepreneurs, which is coming to Woburn on Thursday.
Why, it’s like an Army of Davids or something.