Crowdfunding Skills Equip Young Entrepreneurs for Business Success

[Sponsored article] For anyone without the backing of an established company, having a good idea is just stage one in the process of producing a profitable new product or service.

In addition to devising a solid business plan, and building a team that can successfully deliver on the concept, some capital is almost always essential to put together prototypes and research the market.

But until recently, if no angel investors stepped forward and there were no wealthy family members or friends willing to take a risk, the options available have been extremely limited. However, the emergence of crowdfunding is changing this scenario.

Turn an idea into reality

The Department of Management’s Professor Sam Garg has been teaching the Business School’s popular Entrepreneurship elective course for several years. This year, for the first time, his students are not only producing a business plan for a new product, they are also using reward-based crowdfunding to raise the initial money needed to turn an idea into reality.