Christopher Charlesworth, CEO and Co-founder of HiveWire, Joins National Crowdfunding Association of Canada’s Advisory Board
March 24th, 2017
Betakit | | Sep 11, 2015
Crowdfunding in Canada’s tech sector is only getting bigger, as startups, enterprises, and everything in between are looking for ways to fund, brand and grow their operations. Globally, crowdfunding markets grew from $6.1 billion in 2013 to $16.2 billion in 2014. But what does the future hold on the crowdfunding front – and what do the tech innovators of today need to do to prepare for it? To meet the need for answers, the National Crowdfunding Association of Canada (NCFA), and lead sponsors, The OCMX and SeedUps Canada will host VanFUNDING 2015, an interactive and immersive half-day crowdfunding conference on September 29 in downtown Vancouver’s iconic Library Square location.
Speakers and event partners for VanFUNDING are a veritable who’s who crowdfunding and marketplace lending platforms in Canada along with leading service providers, such as Crowdfund Suite, PwC, Frontfundr, FundRazr, Grouplend and Lending Loop. To get a preview of what to expect at the event, we asked Crowdfund Suite CEO Bret Conkin, about the state of the crowdfunding marketplace.
The biggest driver of interest in crowdfunding today is the sheer growth of capital being raised, Conkin explains. “We’re going to see growth from $16.1 billion in 2014 to a projected $34.4 billion in 2015, according to industry researcher Massolutions. It’s entered the mainstream. Now, many entrepreneurs want to know about their platform options and the new startup crowdfunding regulation brought into six provinces. What are the guidelines? Where and how can they take advantage?”
Another trend has been the launch of lending loop or marketplace lending in Canada via platforms like Lending Loop and GroupLend, Conkin adds. “The sheer innovation in FinTech, from smart contracts and bitcoin to blockchain technology will also be a key area of discussion.”
If this event and others like it are a sign that Canada’s community is getting on the crowdfunding bandwagon, the truth is that in some regards we’re a bit late to this party. “Crowdfunding is taking off globally and Canada is at risk of falling behind,” says Craig Asano, Founder and Executive Director of NCFA Canada.
“China, by way of an example is organizing a several thousand person conference in October and is flying in international speakers to participate and share what they’ve learned,” Asano adds. By comparison, we’re going to have some catching up to do.
The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding stakeholders across the country. NCFA Canada provides education, research, leadership, support and networking opportunities to over 1100+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada. Learn more About Us or visit www.ncfacanada.org.