Despite notable media reports about crowdfunding
through The Straits Times,
crowdfunding sites like Togather.asia 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 Togather.asia 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
