BidOkee is establishing a cooperative model through which networks, resources, connections and best practices are shared between campaigns to realize crowdfunding’s original potential.
BidOkee’s CEO, Eyal Lichtmann, contends a major problem with crowdfunding is that small campaigns are being pushed aside as big corporations look to dominate the industry.
Approximately one million crowdfunding campaigns are launched annually. Over $20 billion in crowdfunding transactions will occur this year – a 100% increase over last year – according to Equitynet. A World Bank report estimates that, by 2025, this number will spike to $300 billion annually, while others estimate as high as $500 billion, with up to $3.2 trillion in economic activity.
Entrpreneur.com reports how difficult it is for start-ups to get funding despite the proliferation of crowdfunding worldwide. Currently 90% of the world’s online population has access to crowdfunding and $1,400 is raised in donations every minute. Still, only 3% of all start-up funding comes from crowdfunding.