Mittwoch, 13. März 2013

No take off in Singapore

Despite notable media reports about crowdfunding through The Straits Times, crowdfunding sites like and Crowdonomic has yet to gain critical mass adoption with project creators and backers.

Renyung Ho, co-organiser of CreativeMornings / Singapore and co-founder of Kennel, a co-working space, said, “There’s an increasing interest in the creative scene here seen from the growing number of attendees for our events. We’ve also recently started slotting in one 5 minutes project pitch for each of our CreativeMornings event for project owners who are making an impact in the creative industries but are just starting-up.”

Early movers like and Crowdonomic share the responsibility of educating the general public about the risk and rewards of crowdfunding. Until these companies can build trust and allay fears, there will not be a strong community of core project creators and pledge supporters to grow the crowdfunding scene here.

Ho, who did her undergraduate studies in London, notes that the number of people who start creative projects are still relatively small as compared to design capitals like London or New York City.

Here’s the problem though: project creators who are innovating in hardware and manufactured products have persistently encounter a bottleneck when getting their ideas out in the market since there are limited manufacturing facilities in Singapore willing to deal with orders in small quantities. Full text

Copyright: sge 2013