Imagine you have a bright idea for a new gadget or game. You're convinced people will love it, but it's going to take more money and time than you have on hand, so you need to raise some funds. You've got a few options: you could talk to a bank manager for a loan, you could seek investment, or you could approach a commissioner.
What do these people have in common? They're all gatekeepers, and while we expect gatekeepers to be perfectly impartial experts, most are only human, vulnerable to making mistakes (including favoring friends). Anyone who's tried to raise money or win a grant will know the frustration of having the fate of their project lie in the hands of only a few people.
To read the full, original article click on this link: The wisdom of crowdfunding: business's quiet revolution – Telegraph Blogs
Author:Adrian Hon
