The Latest Crowdfunding News – 11/5/16
Crowdfunding News – All The Latest Updates
Hi guys welcome to our fortnightly crowdfunding news round-up. As usual, we will be giving you a snapshot of the latest crowdfunding news, today’s edition is slightly different as we save our crowdfunding air miles and pretty much stay on home soil.
Paypal Tightens rules on crowdfunding
Paypal will stop protecting payments made to crowdfunding projects in several countries, the online money transfer platform has announced. (BBC, May 2016)
The countries affected by this new rule include The United States, Canada, Japan and Brazil. However, this does not include the UK.
The money transfer company is altering its payment protection policy and lining it with the investment risks. However, they have not stated if it would be rolled out any further.
In addition, Paypal are withdrawing protection for gambling transactions and payments made to government agencies.
The San Jose based company told the BBC : “This is consistent with the risks and uncertainties involved in contributing to crowdfunding campaigns, which do not guarantee a return for the investment made in these types of campaigns.”
SyndicateRoom Launches New crowdfunding Of Its Own
The Cambridge based crowdfunding platform SyndicateRoom plans to raise up to £2.3mln of new funds, via its own crowdfunding platform, as it looks to further expand its operations according to Proactive Investors.
SyndicateRoom are currently working on an aggressive growth strategy and with the help and support from equity funding it aims to increase its workforce.
The new Series A funding round opened yesterday via their own platform for investors.
SyndicateRoom’s chief executive Goncalo de Vasconcelos stated in Proactive Investors : “We now know that there is strong appetite for equity investment in the UK – for private companies and in for those in the public markets – and today’s report serves as evidence.”
The company now operates via the London Stock Exchange. This new crowdfunding route for LSE listed companies means that private investors are able to participate via their crowdfunding platform in institutional placings and IPOs which would otherwise be off-limits to them.
Commodore 64 Returns With Modern Tech In crowdfunding campaign
One for all you retro gamers out there! The best selling computer from the 1980’s has evolved with two new machines, as well as a new desktop computer called THE 64, the Commodore 64’s (C64) innards are being re-spun into a handheld console named THE 64SX.
According to The Independent: “Both are set to come with a range of built-in titles which the maker, Retro Games, promises will include some newly-created programs.”
Before either machine can get off the ground, the company has to raise $150,000 via crowdfunding platform Indiegogo where the computer version costs $150 and the handheld version costing $170.
Image source : Independent
Science Museum Launches Kickstarter To Recreate 1920s Robot Ahead Of Robotics Exhibition In 2017
The London Science Museum has announced that it is currently working on a new exhibition set to open next year that will celebrate 500 years of robots. The exhibition will feature an array of humanoid robots that visitors can interact with.
In addition, the Science Museum has also launched its first Kickstarter crowdfunding campaign to raise funds to help recreate the first robot to be built in the UK – animatron named Eric that was originally built in the late 1920’s, the idea is that Eric will deliver a talk at an engineering exhibition.
The London based museum wants to raise £35,000 to create a new version of the robot using industrial waste parts modelled on archive images of Eric collected from relatives of the robot’s original creators, and then send Eric on a tour around the world before he features in the Robots exhibition and becomes a part of the museum’s permanent collection. (IBT, May 2016).
Ben Russell, an economic historian who is lead curator of the exhibition told IBT : “I think museums using crowdfunding is a rising trend. What’s nice for us is that we get to do this amazing project, and it gets people engaged and thinking about robots before the exhibition opens. The money is always helpful for a museum in these times, but what’s very interesting is that it allows us to reach out and find like-minded people out there who might not otherwise come across us.”
Have an interest in robotics and crowdfunding? If so, get involved here.
Image source : IBT
Crowdcube Officially Opens New Manchester Office
Crowdfunding portal Crowdcube has officially opened its new Manchester office.
Crowdcube revealed earlier this year that they would be having an additional office in Manchester, the north-west has been a key place for the crowdfunding platform as it has raised more than £1.4 million in the last two years on helping a selection of businesses in the region.
Crowdcube’s commercial director Matt Cooper told Insider Media: “We’ve already been working with businesses in the region but my view was that we needed to have a presence here. The process of raising money as an entrepreneur is not very straightforward. It’s still a process where they want to meet people to talk them through the options. We’re the only equity crowdfunding business with an office in the region and our door’s always open. We’re starting with one person in Manchester but we’re looking to build out the team if there’s demand and all the indications are that there will be.” (Crowdfund Insider, April 2016).
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