World Crowdfund Federation Launches Across Five Continents


 

WASHINGTON and TORONTO, Oct. 4, 2012 /PRNewswire-USNewswire/ — Today crowdfunding associations in the United States, Canada, Nigeria, Australia, Israel, India and Brazil announced the formation of the World Crowdfund Federation (WCF).  “We are very excited about this new development,” said David Marlett, Founder and Executive Director of the United States’ National Crowdfunding Association (NLCFA), adding, “We see many other countries soon to join, including the Scandinavian countries and Germany and the UK.”

(Logo: http://photos.prnewswire.com/prnh/20121004/DC86856LOGO )

The NLCFA and a group of supporting crowdfunding associations around the world originated the concept of the WCF.  “Once David lit the fuse, it just took off,” said Craig Asano, Executive Director of the National Crowdfunding Association of Canada (NCFA Canada).  “We are all not-for-profit organizations that promote crowdfunding in our respective countries.  Through the WCF we will share resources and information, and provide mutual support to each other around the globe.”

Though donation and reward-based crowdfunding is what has proliferated the globe in the past couple of years, it is the prospect of investment or equity crowdfunding that is all the buzz.   Investment crowdfunding is already legal in Australia, Sweden, the UK, and other countries, and with the United States’ JOBS Act it will be legal in the US in mid-2013.  “Crowdfunding initiatives and industries are popping up around the world at remarkable speeds,” said Baruch Levanon, Executive Director of the Israel Crowdfund Association.   “We find increasing awareness to the potential of the crowdfunding mechanism among the financing and business community in Israel as well.”

“Crowdfunding transcends all geographic and political boundaries.”

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