Crowdfunding is the practice of funding a project or venture by raising monetary contributions from a large number of people, typically via the internet. Crowdfunding is a form of alternative finance, which has emerged outside the traditional financial system. The Crowdfunding model is fueled by three types of actors: the project initiator who proposes the idea and/or project to be funded; individuals or groups who support the idea; and a moderating organization that brings the parties together to launch the idea. Crowdfunding is being experimented with as a funding mechanism for creative work such as blogging journalism, music, independent film and for funding start-up companies. In 2013, the crowdfunding industry grew to be over $5.1 billion worldwide. During March 2014, 442 Crowdfunding campaigns were launched globally on a daily basis.
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