Karsten Wenzlaff, Advisor
August 26th, 2025
Huffington Post | Nik Badminton | March 4, 2015
On Tuesday March 3rd, 2015, we saw a gathering of over 700 people from all sorts of organizations looking for insights and discussions at the first 2015 Canadian Crowdfunding Summit in Toronto, Ontario.Canada is a leader in donation-based crowd funding. We are seeing companies built in Canada bolstered by the crowdfunding and collaborative economy. There are over 45 crowd-funding platforms are currently based in Canada. Platforms like FundRazr, Chimp, FanPush and others are really making huge impacts (more can be seen here).
Crowdfunding can be seen as the great equalizer when you have that great idea about starting a business. It's no longer about reliance on your rolodex, secret investor meetings, clandestine R&D, and the big splash launch. It's a more democratic approach where you develop you business in the open and where consumers, and consumers can get plugged in to the opportunity immediately. In addition, and most importantly, five times the number of women (vs. those raising money through traditional models of VC and Angel funding) achieve funding through crowd-funding campaigns and platforms. A balanced gender-based economy is so very important.
We can see the big Canadian success stories of crowd-funding. Look at Pebble's campaign in 2013. They were hoping to raise $100,000. Instead, they generated more than $10 million from almost 69,000 backers in two months on Kickstarter.
What is incredible is that this revolutionized an industry that was too slow to make this happen -- see Samsung, Apple and many other smart watches hitting the market right now. Then we saw them launch Pebble Time last week. It took just 17 minutes to raise $500K and now they sit at over USD$12m with 24 days to go. BAM! This sets a new precedent. Again. But, not everyone has the profile or resources at hand to make this happen.
With this in mind, I caught up with Vancouver-based Daryl Hatton, Founder and CEO of FundRazr, about the challenges that can exist when building a campaign and product. He said that often founders, after raising money through crowdfunding, often get dragged into every part of the business v.s. focusing on what is important. This is a mix of being wary in spending money on people that are supplemental to the business v.s. creating a value-based core product or service. Raising money is the first step but working smarter is key to keeping going and creating success.
Diana Yazidjan, a specialist crowdfunding consultant, also added to this and said "be good at what you do and don't waste you energy. Writing and video are two prime candidates for finding help with", she also warns "remember, you still need to own and educate the team about the story."
This leads us to think about why matching your crowdfunding campaign with finding supporting resources and looking online is a logical step when planning a crowdfunding strategy and utilizing online resources:
Find a fresh, non-traditional approach.
Why just hire the same people into your organization for engineering, technology, sales and fundraising? We know that diversity can deliver some real, and sometimes surprising results. This is why people hire creative agencies. But that's expensive. It's why people look to online resource platforms to get people working online immediately and providing value quickly.
Find help today.
Finding the right people (and team) to get the work campaigns created, fund raising. Personal networks run dry quickly so looking online is a logical step. Suddenly, you have access to tens of thousands of people online ready to help immediately.
Be confident.
Being sure that the work will get done, and to the level that is needed is critical. Online platforms provide support and dispute resolution. It protects you budget if there is a problem.
Focus and work efficiently.
Many companies forget to just focus on creating the core team and flexing out when needed i.e. for marketing, PR or other supporting capabilities. Being able to onboard resources, like designers, web developers, copy writers, art directors, fundraisers etc., is key.
Plan for sustainability.
A startup is like a marathon. It's about focusing on getting to the goal without burning the energy reserves. More affordable online resources means that you can run longer without distracting from creating the core product and service.
At the startup company showcase I chatted with Colin Campbell, Co-founder of BetterCurrent, a solar charging solutions startup, and he summarized a core truth beyond those stated above.
"You have to get creative and have a win-win. You need a village of people to make this happen. A great team can carry you through."
Nik Badminton is a futurist and is leading the charge of expanding Freelancer.com across Canada and the USA. He actively thinks about the Internet, Sharing / Collaborative Economy and the #FutureofWork.
ITbusiness.ca by Candice So | February 17, 2015
A group of Quebec-based crowdfunding supporters have banded together to create a new non-profit organization, dedicated to promoting equity-based crowdfunding from within the province.
On Tuesday, the group launched Equity Crowdfunding Québec (ECQ), a new organization that will represent SMBs, startups, entrepreneurs, and other stakeholders in the province as regulators draft equity-based crowdfunding legislation. Its core group is made up of legal professionals, financial professionals, and business-owners.
Up until this point, ECQ had been largely an informal group, with little more than a website containing news and resources on crowdfunding. But as a formal, not-for-profit organization, ECQ hopes to be able to have a say in the process of drafting equity-based crowdfunding legislation, said Gil Michel-Garcia, one of the leaders of the new association.
“In Canada, [regulators are] working on legislation across all the Canadian provinces to have a standardized set of rules that is going to govern how you allow crowdfunding to be done over the Internet to a mom and pop investor,” he said, adding that it’s important for Quebec to have a voice in any legislation that could affect Quebec-based businesses.
“That’s why you need an organization that’s able to, from a local Quebec perspective, to represent views.”
For example, ECQ would encourage regulators to remember that Quebec’s companies would do most of their business in French, and that they would also be using Canadian dollars. That can be can be an issue for cross-border investments, especially if an anglophone investor from a different province wants to invest, or a U.S.-based individual wants to invest, he said.
Tackling all of these complicated issues may be a thorny task, but Michel-Garcia has seen first-hand how crowdfunding can help businesses grow.
Aside from leading ECQ, he’s also the CEO of Wafu Inc., a Montreal-based company that creates Japanese mayonnaise for sandwiches and burgers. In 2013, Wafu closed the first accredited investor equity crowdfunding round by a Canadian company within the U.S. through CircleUp, a U.S.-based equity crowdfunding platform aiming to connect investors with companies creating consumer products.
Thanks to his own experience in crowdfunding, Michel-Garcia said he knows how hard it can be for small to mid-sized businesses (SMBs) to raise capital without help. His own company was originally made up of just two people – himself and Mari Toyoda, a former restauranteur who helped create Wafu’s Japanese vinaigrettes.
“What allowed us to grow was my ability to be able to access capital internationally, locally, and obviously I’m familiar with how to do this,” he said, adding that other SMBs typically rely on small business loans, or on friends and family, to help them get started. But nowadays, given SMBs have the power to market themselves through their websites and social media channels, it only makes sense to allow them to turn their most supportive customers into investors.
“I truly believe that equity crowdfunding will be transformational for small businesses in Canada. It will absolutely allow the people that have good ideas, good businesses, good products, good services, to be able to access the capital they need and grow,” Michel-Garcia said.
For Craig Asano, executive director of the National Crowdfunding Association of Canada (NCFA), the ECQ is a step forward for equity-based crowdfunding in Quebec.
“We think it’s great they have their own community, and obviously constituents in the French language to service,” he said. “We think they can add tremendous value representing the Quebec needs and perspectives … It’s early days, and we’re here to assist them and work collaboratively to build out, in a positive manner, all forms of crowdfunding.”
So far, only the province of Saskatchewan has an exemption in place for equity-based crowdfunding. The Ontario Securities Commission has said it intends to publish a crowdfunding-specific prospectus exemption, with its last introduction of potential regulations released in March 2014, while British Columbia, Manitoba, New Brunswick, and Nova Scotia are also looking at creating their own rules for raising equity for businesses.
Michel-Garcia will be one of the speakers at the NCFA’s Canadian Crowdfunding Summit in Toronto, set to be held March 3.

Techvibes | Posted by Jennifer Hough |
Canada’s first ever crowdfunding summit will be held in Toronto on March 3, 2015, providing a space where interested parties can gather to highlight best practices, insights and trends in the industry.
The National Crowdfunding Association of Canada, formed in 2012 to help create a vibrant crowdfunding industry across the country, is organizing the event.
The rise of crowdfunding as a fundraising – and marketing – tool cannot be underestimated. It has emerged as an increasingly popular source of innovation and social capital for small to medium sized enterprises (SMEs), new ventures, projects and cause-based organizations.
Craig Asano, founder and executive director of the NCFA, says the time is ripe for a national conference.
“The 2015 summit will be a first in Canada, bringing together financial innovation and crowdfunding leaders to help shape the future of the Canadian industry,” he said.
“With so much activity happening on the US/UK conference circuit, it’s about time Canada showcases the remarkable economic growth, innovation and entrepreneurship occurring every day in crowdfunding markets across Canada," he added.
According to Asano, the global crowdfunding industry experienced explosive growth from $1.5 billion raised in 2011 to over $5 billion in 2013. The World Bank released a report in October 2013 predicting that crowdfunding could blossom into a $96 billion industry.
Next year's one-day educational event will feature high profile keynote speakers, panel discussions, workshops, entrepreneurial pitches, mentor sessions and a trade show showcasing Canada’s most forefront crowdfunding platforms and service providers. The program covers a diverse range of topics including crowdfunding governance, market data, infrastructure, social enterprise and charities, opportunities for new entrants, and global perspectives.
The event will take place at MaRS Discovery District in Toronto.
News this week that a Canadian startup raised $450,000 in one month through crowdfunding gave the movement yet another high profile boost this week. Thanks to the money raised, Dream Qii, a robotics firm based at Ryerson’s Digital Media Zone incubator hub, can now bring its product to market in the spring.
It’s stories like this that are making people sit up and take notice.
Conditions are favourable in Canada for startups to make use of the tool. In March of this year, six provincial regulators announced proposals for crowdfunding exemptions that would allow early stage companies such as start-ups and SMEs to raise up to $1.5 million of capital online through the issuance of securities.
MaRS connects the communities of science, business and capital and fosters collaboration among them. This happens physically through location of research labs, companies of all sizes, business advisors, investors and professional services within the MaRS Centre and more broadly through hands-on advisory services, entrepreneurial programming, our structured networks and expanding electronic community. Located in... more
NCFA Canada is a newly formed cross-Canada non-profit with a mandate to be inclusive in providing education, awareness and advocacy in the rapidly evolving crowdfunding industry. We're a community-based and membership-driven entity that was founded at a grass roots level to fill a national need in the market place. We're collaborative, broad-based, and support all forms of crowdfunding from donation to... more
Canada’s first ever crowdfunding summit will be held in Toronto on March 3, 2015, providing a space where interested parties can gather to highlight best practices, insights and trends in the industry.
The National Crowdfunding Association of Canada, formed in 2012 to help create a vibrant crowdfunding industry across the country, is organizing the event.
The rise of crowdfunding as a fundraising – and marketing – tool cannot be underestimated. It has emerged as an increasingly popular source of innovation and social capital for small to medium sized enterprises (SMEs), new ventures, projects and cause-based organizations.
Craig Asano, founder and executive director of the NCFA, says the time is ripe for a national conference.
“The 2015 summit will be a first in Canada, bringing together financial innovation and crowdfunding leaders to help shape the future of the Canadian industry,” he said.
“With so much activity happening on the US/UK conference circuit, it’s about time Canada showcases the remarkable economic growth, innovation and entrepreneurship occurring every day in crowdfunding markets across Canada,” he added.
According to Asano, the global crowdfunding industry experienced explosive growth from $1.5 billion raised in 2011 to over $5 billion in 2013. The World Bank released a report in October 2013 predicting that crowdfunding could blossom into a $96 billion industry.
Next year’s one-day educational event will feature high profile keynote speakers, panel discussions, workshops, entrepreneurial pitches, mentor sessions and a trade show showcasing Canada’s most forefront crowdfunding platforms and service providers. The program covers a diverse range of topics including crowdfunding governance, market data, infrastructure, social enterprise and charities, opportunities for new entrants, and global perspectives.
The event will take place at MaRS Discovery District in Toronto.
News this week that a Canadian startup raised $450,000 in one month through crowdfunding gave the movement yet another high profile boost this week. Thanks to the money raised, Dream Qii, a robotics firm based at Ryerson’s Digital Media Zone incubator hub, can now bring its product to market in the spring.
It’s stories like this that are making people sit up and take notice.
Conditions are favourable in Canada for startups to make use of the tool. In March of this year, six provincial regulators announced proposals for crowdfunding exemptions that would allow early stage companies such as start-ups and SMEs to raise up to $1.5 million of capital online through the issuance of securities.
MaRS connects the communities of science, business and capital and fosters collaboration among them. This happens physically through location of research labs, companies of all sizes, business advisors, investors and professional services within the MaRS Centre and more broadly through hands-on advisory services, entrepreneurial programming, our structured networks and expanding electronic community. Located in… more
NCFA Canada is a newly formed cross-Canada non-profit with a mandate to be inclusive in providing education, awareness and advocacy in the rapidly evolving crowdfunding industry. We’re a community-based and membership-driven entity that was founded at a grass roots level to fill a national need in the market place. We’re collaborative, broad-based, and support all forms of crowdfunding from donation to… more
The Financial Post | Melissa Leong | Sept 2, 2014
With millions of dollars available through infinite contributors, crowdfunding sites have revolutionized the way small businesses get up and running. However with increasing competition, creating a campaign that will stand out from the rest of the noise has never been more challenging.
“There’s no banker there. There’s no angel or [venture capital],” Ruth Hedges, a U.S.-based crowdfunding industry leader and chief executive of Crowdfunding Roadmap, says. “It’s you and your self-determination and I say go for it. Do the hard work. Build the social capital. Create the material.”
Kickstarter has channeled more than US$815-million from 4.9 million backers to nearly 50,000 projects since 2009, a 2013 World Bank report said. The same report estimates that households in the developing world could provide up to $96-billion a year in crowdfunding investments by 2025.
That’s a lot of money that could be at your disposal. But crowdfunding isn’t a well of money. A lot of people don’t raise as much as they hope to.
“Historically, 80% of crowdfunding dollars came from one friend away from you,” Ms. Hedges says. “There’s a small percentage of crowdfunding campaigns over $100,000. The majority of people who crowdfund raise less than $5,000.”
Study campaigns similar to yours Ms. Hedges suggests asking yourself “What do you like about them? What draws you in?”
“There was a campaign called the 10-year hoodie,” she said. “They let you pick the colour of the sweatshirt. They showed you the stitching. They showed you the zipper. There were lots visuals, lots of details, things that people can relate to.”
That Kickstarter campaign set out to raise $50,000 last year. It raised a $1-million more than its target. “It’s just a sweatshirt and you think, ‘How could they do that?’”
Visuals are key “Almost everybody fails without a video. It’s a visual connection to the people putting on the campaign or the product,” Ms. Hedges said.
It doesn’t have to be shot by Steven Spielberg. Just find a compelling way to sell your campaign and ask for the money. And make it about being part of a community. “You have to keep referencing back to your audience: ‘It’s in your hands now. Let’s all do this together.’”
Also, include lots of graphics and pictures, especially of you and your team. “People like to know there is someone behind the campaign,” Elizabeth George, marketing and business development officer for B.C.-based FundRazr noted. “Even a simple switch from a stock photo or a generic photo to one of yourself and your children or anybody that reflects your story is going to get you more donations.”
Have a team of four or more That increases your chances of success by 70%, Ms. Hedges said. “It’s an intensive 30 days. It’s not something one person can do.”
Have the first 30% of your goal committed before going live “If you can’t convince your grandparents, your aunts and uncles, how can you convince complete strangers? The bigger crowdfunding gets, the more competition there is out there,”Ms. Hedges said.
The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada crowdfunding hub providing education, advocacy and networking opportunities in the rapidly evolving crowdfunding industry. NCFA Canada is a community-based, membership-driven entity that was formed at the grass roots level to fill a national need in the market place. Join our growing network of industry stakeholders, fundraisers and investors. Increase your organization’s profile and gain access to a dynamic group of industry front runners. Learn more About Us | About Crowdfunding or contact us at casano@ncfacanada.org.
Globe and Mail | Daina Lawrence | July 24, 2014
Crowdfunding is a popular method used by startups to acquire financial backing for a company or even specific product, but it is not often thought of as a tool for established businesses.
Experts Daryl Hatton, CEO of social crowdfunding platform FundRazr.com, and Craig Asano, executive director of the National Crowdfunding Association of Canada, argue that larger corporations have barely begun to explore the benefits of crowdfunding.
Is crowdfunding just for startups?
Daryl Hatton: Not at all. Crowdfunding helps a lot of successful startups, but it’s not at all required that it be a startup. We’re seeing lots of new applications from local businesses that have been there a while, but want to launch a new product or service, or from enterprises that are looking at it to help them validate whether or not there’s a market for a new product that they’re interested in.
Craig Asano: Crowdfunding is not at all just for startups. Whether you’re an individual, a small company or a big company, for-profit venture or not-for-profit, you take a look at the marketplace locally here in Canada and there have been successes in crowdfunding, but it’s been across the board. So it’s really an organization seeking to tap into the power of that crowd. Funding for the ideas is one major part, but it’s also this idea of social capital and networking.
What models of crowdfunding are available to established businesses now, and coming up?
DH: There are a couple of different models, but let’s start with the first one, which is the all-or-nothing funding model, where you set a goal and only if you achieve that goal do you actually receive the funds. You can use that model to test whether your product is interesting to a marketplace. By allowing people to order a copy of the product ahead of it actually being produced, if you get enough orders you say, ‘Okay, there’s enough demand,’ and will actually go and create the product. So large companies started to experiment with that, including companies like IBM. They were running internal programs where they were crowdfunding within the company to see which kinds of products would most likely succeed based on the responses of staff.
There’s another model that’s starting to come out and it’s related to marketing a company, as opposed to product development. That’s the idea of taking the corporate social responsibility program project, where they’re putting money back into their community and turning that into a customer acquisition system. For example, if someone made a donation to a cause that was supported by the corporation, the corporation might give them a copy of the product in order to help increase the value of the donation. I know that sounds a little complicated, but imagine for a minute that you were going to give money to a local hospital and, in exchange for your donation, you got [an Internet] TV package from [a telecommunications company]. The cause gets some money, [the telecom] gets a customer and they’ve used corporate social responsibility methods to help build the brand in their community.
CA: There are two other points: The first one is using crowdfunding as a feeder system to acquire new innovation. While enterprise companies have research-and-development divisions, they are more expensive to operate and aren’t structured like startups, where grassroots innovation can happen in unexpected ways, sometimes from a tiny basement apartment. Enterprise companies, which source new innovations from these dynamic markets, benefit by acquiring early-stage technologies at a great price. I think it’s an interesting trend. Google is a good example of a large company using ‘intrapreneurship’ to crowdsource innovation from their employees. Google encourages employees to spend one day a week, or approximately 20 per cent of their work day, focusing on developing their own ideas, which is like running their own startup. If they come up with a brilliant idea, Google has the right to participate and owns a portion of the intellectual property, but as a model, I think it’s an amazing approach to how large enterprises can crowdsource innovation.
Another example is General Mills, a large consumer packaged-food company in a partnership with a U.S. equity crowdfunder called CircleUp. And basically the deal is, if someone comes up with new consumer packaged good, like a new cookie, a new peanut butter, something that’s a breakthrough campaign that’s seemingly a new idea and people support it, that through the partnership General Mills has an opportunity to reach out to the company and purchase it. And I think those are two angles – which involve system acquiring innovation – that may be cheaper or just a different channel to try marketing.
British Canadian Chamber of Commerce | Idalia Obregon | July 23, 2014
By Ken Mark, freelance writer specializing in international trade and investment. Email: ken.mark@rogers.com
Craig Asano, addressed a joint breakfast session on the current status of crowdfunding in Canada co-sponsored by the BCCTC, the Danish-Canadian Chamber, the Canada-Finland Chamber and the Swedish Canadian Chamber on July 17th, 2014. Asano is the founder and executive chair of the National Crowdfunding Association of Canada (NCFA Canada).
While crowdsourcing taps into the wisdom of crowds, crowdfunding taps into their wealth. More formally, it is the pooling of small amounts of capital from a large number of people through the internet and social media to fund social projects or business venture.
It is important since focuses on SME’s , the backbone of the Canadian economy which account of 55% of employment and 50% of National GDP. Small-cap firms and start ups are constant need of capital often less $1.5 million but they constantly face barriers.
The enable them to spur business and economic growth, employment and innovation, unlock new sources of capital and support for underserviced
communities, while strengthening grass-root groups in the start-up, SME community and connecting them with upstream capital markets, angels and venture capital firms.
Success stories are emerging. In the United Kingdom there is the Funding Circle, an online marketplace for small business loans. Launched in 2010 and it ha the support of large VCs (i.e., Union Square Ventures) and prominent British entrepreneurs. To date, it has facilitated £183 million pounds of small loans involving 60,000 members.
In Canada, the crowdfunding poster child is Pebble Smart Watch started by Waterloo U. engineering student, Eric Migicovsky. His initial goal was to raise $100,000. But thanks to the viral success of pre-selling 69,000 watches, he raised more than US$10 million on the American portal, Kickstarter.
A public sector star is Calgary’s Invest YYC launched in January 2013. It raised $650,000 across 47 projects for an average of $13,892 per project. Some of proceeds were used in flood relief in Calgary last summer.
In conclusion, crowdfunding enables start-ups, SMEs, to unlock a new sources of capital (that is efficient, transparent, cost effective to get businesses, expansion and other projects off the ground. It spur creativity, innovation and helps validate ideas and research. It also fosters networking, mentorship and support
Investors gain by accessing more deals be removing geographic boundaries through electronic and social media links. Crowdfunding simplifies
Portfolio management and helps diversify risk. It can help build investor networks, and ‘lead investor’ syndicates. It can also yield more online transaction data points so participants can make earlier and informed decisions.