The Power of Crowdfunding

Happy #TechTuesday (albeit hitting your inbox on a Thursday as it was that type of a week)! This week I have another great guest for you.

Meet Becky Center, CEO of Indiegogo, a tech company whose mission is to empower people to unite around the ideas that matter to them and together bring those ideas to life. What a mission!

The investment world is currently in flux, but we are seeing a lot of institutional money flowing into the fintech world to support the creation of new tech products. With other ways of getting money, such as VC and grants... are businesses still choosing crowdfunding? The answer is yes - especially for types of businesses that don't suit a typical VC funding route.

Examples are creative entrepreneurs like film makers, video game creators, or first time business owners - people who are less likely to receive backing from the VC world.

Tune into our conversation and read Becky's full interview below to learn about what makes a successful crowdfunding campaign, why women owned campaigns tend to perform better, and what surprises her most about this world.

#TechTuesday Highlight #113:?Becky Center, CEO of Indiegogo

How/why did you get into your space?

I was a Math major in college before a focus on STEM education became more mainstream.?I didn’t know what I would do with the degree, but I knew I loved to problem solve and be challenged intellectually.?I eventually found that these traits were the perfect fit for working in Product Management & tech in general.?After many years at Groupon I had developed a passion for helping small businesses through tools and technology.?Leading Indiegogo is the perfect way for me to channel all of those learnings into supporting entrepreneurs and creators so they can focus on their special skills and leverage our technology to amplify their impact.?

What role do you play in the tech ecosystem and why is that role important?

I think one of my greatest contributions to the tech ecosystem is leading with authenticity and being an example of what an unlikely technical leader can look like.?There have been so many times that I’ve been the only woman in the room or that I’ve been told I seem too nice [read: a mom who cares about people] to run a business and this is simply not true.?I now have the benefit of a CEO title, and I try to leverage that to raise up the voices that aren’t always the loudest and push my team members to set their sights, expectations and accomplishments higher than what they might have thought possible.??

How has technology impacted your industry and why is this important??

The best part about technology is the scale and access that it allows.?You can have a handful of engineers build a tool together and when they’re done somebody on the other side of the world with no technical capability can use it to accomplish something quicker, faster, and better than they would have on their own.?For Indiegogo, we are helping Entrepreneurs – often people who never even thought of themselves as Entrepreneurs – to spend their time focused on the thing they do best, like film making or creating a board game.?Our technology means they don’t have to individually figure out how to reach an audience, how to raise funds, how to communicate, merchandise, transact, and so many other things that would make following their passion much more difficult to do on their own.?It’s really beautiful and I’m so thrilled to be a part of it.

What do you believe is the most exciting tech trend for 2022 (as it relates to your industry)?

I’m encouraged to see that green tech and sustainability continues to be a focus for the tech industry and a growing category on Indiegogo. Green tech was an emerging category on Indiegogo last year and raised around $20M collectively. It’s exciting to see new solutions that entrepreneurs are bringing to solve a difficult and impactful global problem. It’s equally heartening to see that our backers are putting their money behind sustainable and climate-friendly ideas. Some of my favorite examples are the Lomi, a food composter that turns waste into compost with a single button and GoSun Chillest, a solar cooler that doesn’t need ice.?

Who is a person that inspires you in the space and why?

It may sound cheesy, but I am inspired by the entrepreneurs that we work with everyday.?I try to talk to as many of them as possible, and each one has a unique story and challenge to overcome.?It takes risk and vulnerability to put your ideas out into the world and bring others along with you to make your vision a reality.?This is how we innovate and move forward as a society.?I’m also inspired by business leaders who are willing to take a stand on social issues that they and their teams care about.?For a long time the trend was to stay quiet so as not to risk any potential business opportunities, but we are at an inflection point where our employees are expecting more from their leaders.?My family was recently impacted by a mass shooting that has been devastating for us and our community.?As leaders we need to do more to use our influence and capabilities to make the changes we want for our childrens’ future.?

What advice would you give to someone who wants to get into your space?

My general words of wisdom for anyone who wants to succeed in technology - probably in anything - are to remain intellectually curious, keep asking why and keep learning.?Work really hard and take pride in your output.?If you are sloppy, it shows.?If you are great, it shows too.?Get comfortable with being uncomfortable.?The best opportunities are the hardest ones.?The greatest accomplishments come when you push through something that is not straightforward.?Be you and allow others to be themselves too.?Seek open and honest feedback and don’t get defensive, let it fuel you to fight harder and be better.?Have fun, life is too short to be unhappy.?

Anything else we should know about you or you want to include?

A shameless plug for Indiegogo.com – we have amazing projects you can back today, we are hiring and we are always seeking new entrepreneurs with creative ideas to join our site.?You can reach out to [email protected] to reach us directly!?

#fintech #innovation #tech #womenintech #womeninfintech?#entreprenurship #crowdfunding #crowdinvesting #indiegogo

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Have thoughts on this week’s trends or questions for me or Becky? Post your thoughts in the comment section or share them on Twitter. Please include the hashtag #techtuesday and mention me @ScarlettSieber! Until next week.???

You can connect with Becky on?LinkedIn.

Follow?Scarlett Sieber on LinkedIn?for the latest news in #fintech.