Within 5 days of launching Yulebao, a crowdsourced film investment fund, Alibaba announced that it had met its funding target of $11.77 million. It’s clear that crowdfunding fever has spread beyond the US and UK into other areas of the world. A statement made by Alibaba’s president of digital entertainment, Liu Chunning underscores this fact.
“The influence of Internet innovation on the cultural industry is no longer restricted to movie ticket sales but has expanded to investment and content production. Yu Le Bao aims to provide a grassroots investment platform to bring the public closer to the cultural industry. In the future, public investors will even be able to select the directors, heroes and heroines of a movie or TV show.” – Source.
China is up and coming as a tech startup capital and now is beginning to join the crowdfunding industry. Check out the top 7 Chinese crowdfunding sites below and let me know if I missed any!
1. DemoHour
DemoHour launched in 2011 and has since received millions of dollars in funding from Intel Capital and Matrix Partners China. The site claims to be the largest crowdfunding site and is similar to Kickstarter in that it features all-or-nothing projects.
2. AngelCrunch
AngelCrunch is one of the largest equity crowdfunding platforms in China and was founded in 2011. It functions as an AngelList for Chinese companies.
3. Dreamore
Dreamore is another Chinese crowdfunding platform that accepts creative projects and has adopted the all-or-nothing crowdfunding model. The domain was registered in June of 2007 and updated in Feb of 2013.
4. Fundator
Fundator launched its beta in Feb of 2013 and has a “keep it all” and “all-or-nothing” model. The site aims to offer reward, equity, and debt crowdfunding.
5. Musikid
Musikid is a Chinese crowdfunding platform for music-related projects. The site offers a fixed or flexible crowdfunding model, similar to Indiegogo. Musicians, radio DJs, record companies, music organizations, and more can launch a crowdfunding campaign. It must be music-related.
6. CTQuan
CTQuan recently raised $4 million and aims to be the AngelList for Chinese companies. CTQuan is an equity crowdfunding platform.
7. ZhongChou
ZhongChou is a rewards-based crowdfunding platform for creative projects where 2,151 projects have received support from over 96,000 people. It is an all-or-nothing crowdfunding platform.
Conclusion
If you think I missed a platform that should be included or that they should be in a different order, let me know by leaving a comment below. Creators in China can also use Pozible or Indiegogo to raise funds.
