England’s capital has overtaken New York and San Francisco en route to the crowdfunding crown. By July’s end London was leading a wide range of key crowdfunding categories such as business, technology, publishing, gaming and seven others. The victory is based upon both rewards and equity-based crowdfunding activity.
This news chimes nicely with George Osborne’s recently unveiled plans to frame London as the global centre of financial innovation. The Chancellor said:
“The technologies being developed today will revolutionise the way we bank, the way we invest, the way companies raise money. It will lead to new products, new services, new lenders.”
Barry James, Founder and CEO of CrowdFunding Centre, commented:
"The Chancellor is right, this is a new era. We've been tracking it and mapping it's exponential growth for more than two years. What we have seen has revolutionised our thinking and our understanding of what's happening to the world, it's economy and fast-evolving global culture. Technology is the enabler but people, the crowd, are at the centre. It is their decisions, wishes, needs and demands that are driving and directing this new economy. This is why it moves at a faster pace and with a very different heartbeat. The UK and London are playing a key role and we look forward to sharing in more detail".
A number of leading crowdfunding experts will be gathering at the Centre for Entrepreneurs tomorrow to delve deeper into the findings and to get an early look at the first worldwide map of crowdfunding activity. You can view some of the key findings from the research below:
United Kingdom Overview & Stats
41 - NEW PROJECTS EACH DAY
WORLDWIDE TOTAL: 440
8,742 - PROJECTS CREATED JAN-JUN
9.4% OF WORLDWIDE TOTAL: 93,205
30% - IS THE AVERAGE FULLY FUNDED SUCCESS RATE
WORLDWIDE AVG: 26%
53 - PEOPLE BACK EACH OF THESE
WORLDWIDE AVG: 67
$25,034 (£15,646) - WAS THE AVERAGE AMOUNT RAISED
WORLDWIDE AVG: $18,498 (£11,561)
$52,890,461 (£33,056,538) - WAS THE TOTAL RAISED JAN-JUN
13.1% OF WORLDWIDE TOTAL: $404,511,158 (£252,819,474)
London Overview & Stats
12 - NEW PROJECTS EACH DAY
UNITED KINGDOM TOTAL: 41
2,463 - PROJECTS CREATED JAN-JUN
28.2% OF UNITED KINGDOM TOTAL: 8,742
32% - IS THE AVERAGE FULLY FUNDED SUCCESS RATE
UNITED KINGDOM AVG: 30%
70 - PEOPLE BACK EACH OF THESE
UNITED KINGDOM AVG: 53
$17,834 (£11,146) - WAS THE AVERAGE AMOUNT RAISED
UNITED KINGDOM AVG: $25,034 (£15,646)
$11,166,127 (£6,978,829) - WAS THE TOTAL RAISED JAN-JUN
21.1% OF UNITED KINGDOM TOTAL: $52,890,461 (£33,056,538)
