Anna Guenther and PledgeMe: Future directions for crowdfunding artistic and entrepreneurial ventures
A workshop and masterclass that explores the questions:
- How can the power of the crowd be utilised to validate and fund new artistic and entrepreneurial ventures?
- What is the future for crowdfunding in New Zealand given the recent legalization of crowdsourced equity?
Artists and entrepreneurs often experience difficulty raising funding for their creative ideas beyond the usual suspects: friends, family, and ‘fools’. However, the advent of internet-enabled crowdfunding offers new opportunities for fund-raising beyond these traditional sources.
In this episode of Enterprise MasterWorks, Anna Guenther discuses the history, success, and future plans for PledgeMe, New Zealand’s first crowdfunding platform that Anna launched in early 2012.
The first generation of internet crowdfunding sought funding in the form of direct financial pledges which rewarded contributors through a variety of gifts and services.
However, the New Zealand Financial Markets Conduct Act (FMC) of 2014 now permits approved entities to raise investment equity through crowdfunding. Consequently, this new mechanism enables ordinary people to share, through a site such a PledgeMe, the riches and risks reserved typically for professional investors such as angel investors and venture capitalists.
Anna discusses the new opportunities enabled by the new FMC Act and the future for crowdfunding both within and beyond New Zealand.
Guest master: Anna Guenther is the co-flounderer [sic], chief executive, and bubble-blower for New Zealand’s first crowdfunding platform, PledgeMe.
Producer and Master of Ceremonies: Peter Mellalieu, Unitec Institute of Technology
An Enterprise MasterWorks Production: Conception MyndSurfers 1996, 2014.
Playlist EMW 2014-01
Part 00 - 1:40 - Enterprise MasterWorks Overture
Part 01 - 9:08 - SoftTalk: Introducing Anna Guenther and PledgeMe
Part 02 - 8:25 - Presentation: Crowdfunding: explaining the concept
Video insert - 2:58 - First Follower: Leadership Lessons from Dancing Guy (Derek Sivers)
Part 03 - 22:41 - Presentation (continued): From crowdfunding to matchfunding and equity funding
Part 04 - The Master’s challenge: Creating a video pitch for a crowdfunding site
Part 05 - 11:27 Fishbowl discussion about crowdfunding
Part 06 - 14:46 Pitch - Noah Young
Part 07 - 7:19 Crowdfunding: Questions and insights for Anna Guenther
Part 08 - 1:40 Final credits
Video insert: 12:08 How crowdfunding is going to change the world - Anna Guenther at TEDxTeAro
Total playlength: 1 hour 35 minutes
Anna Guenther.Source: (Jackman, 2013)
The Master’s challenge
In this part of the Enterprise MasterWorks learning adventure, the convener issues “the master’s challenge”. The master’s challenge is designed to provide a basis for sharing the guest master’s expertise directly with those in the audience who accept the challenge. The guest master is Anna Guenther, founding chief executive of PledgeMe, New Zealand’s first equity crowdfunding site.
“You have been commissioned by an entrepreneur (or artist) with a bright idea to join their team to help raise funds to advance their venture. Having exhausted funds from their friends and family, the team now seeks additional funding. The team has determined to raise its next tranche of funding through the mechanism of crowdsourcing.
“Your team’s challenge is to prepare a live or pre-recorded video pitch and supporting text for launching a crowdfunding campaign on a crowdfunding site such as PledgeMe. You may elect to focus your crowdfunding campaign on raising ‘traditional’ sponsorship-like pledges, or equity funding in anticipation of PledgeMe gaining relevant approval under the Financial Markets Conduct Act (2014).
“At the workshop, your video pitch will be critiqued constructively by Anna Guenther of PledgeMe crowdfunding, and her blaze of ‘Dragons’.”
About PledgeMe, Crowdfunding, and Anna Guenther
Guenther, A. (2014, May 10). Don’t forget the crowd in crowdfunding. PledgeMe.Blog. Retrieved from http://blog.pledgeme.co.nz/dont-forget-the-crowd-in-crowdfunding/
Guenther, A. (2014, July 31). Equity crowdfunding: we did it. PledgeMe.Blog. Retrieved from http://blog.pledgeme.co.nz/we-did-it/
How crowdfunding is going to change the world: Anna Guenther. (2012). Wellington: TEDxTeAro. Retrieved from http://www.youtube.com/watch?v=F1_viddQGSQ&feature=youtube_gdata_player
Jackman, A. (2013, March 21). Small idea, big success. Stuff.co.nz. Retrieved from http://www.stuff.co.nz/dominion-post/news/local-papers/the-wellingtonian/8453318/Small-idea-big-success
Kerr, P. (2014, January 14). PledgeMe co-flounderer’s words of wisdom. sticK - science, technology, innovation & commercialisation KNOWLEDGE. Retrieved from http://sticknz.net/2014/01/14/pledgeme-co-flounderers-words-of-wisdom/
McKenzie, J. (2012, September 5). Anna Guenther: Crowdfunding through PledgeMe. TALK. Wellington: FixTV. Retrieved from http://vimeo.com/48918946
Mellalieu, P. J. (Ed.). (2014, June 3). Case study: Anna Guenther and PledgeMe. Department of Management and Marketing, Unitec Institute of Technology, Auckland. Retrieved from https://dl.dropboxusercontent.com/u/49418067/Mellalieu%20-%202014%20-%20Case%20study%20Anna%20Guenther%20and%20PledgeMe%20PUBLIC.pdf
PledgeMe - New Zealand’s Crowdfunding Platform. (n.d.). PledgeMe. Retrieved May 28, 2014, from https://www.pledgeme.co.nz/
Sachtleben, A. (2014, August 1). Equity crowdfunding platforms get the green light. Idealog: the magazine and website of New Zealand creative business, ideas and innovation. Retrieved from http://www.idealog.co.nz/blog/2014/08/equity-crowdfunding-platforms-get-green-light
Getting started on a video pitch
For two examples of video pitches that contributed to a successful fund-raising project, see:
Pettit, T. (2014, April 1). shyft Wellington: Changing the way you move. PledgeMe. Retrieved August 19, 2014, from https://www.pledgeme.co.nz/projects/1992
Whittaker, A. (2012, October 3). Get Runaways to AFI Fest. PledgeMe. Retrieved August 19, 2014, from https://www.pledgeme.co.nz/projects/520
Creating an effective video for crowdfunding
How To Create an Effective Crowdfunding Video. (2013). Retrieved from http://www.youtube.com/watch?v=l3awaLUcjaA&feature=youtube_gdata_player
How Video Can Help Crowdfunding Projects. (2013, October 3). SoMedia Video Marketing Blog. Retrieved from http://videomarketing.somedia.net/how-video-can-help-your-crowdfunding-project
Trigonis, J. (n.d.). 5 Ways to Power-Up Your Crowdfunding Pitch Video. Indiegogo Blog. Retrieved June 24, 2014, from http://go.indiegogo.com/blog/2013/02/five-ways-to-power-up-your-crowdfunding-pitch-video.html
Promoting your project
Bostock, L. (2014, May 18). Top 7 Quirky Ways to Market Your Crowdfunding Project. PledgeMe Blog. Retrieved from http://blog.pledgeme.co.nz/top-7-quirky-ways-to-market-your-crowdfunding-project/
About Enterpise MasterWorks
Mellalieu, P. J. (2013). Enterprise MasterWorks: An exemplary project-based learning context for enterprise development and innovation [Video playlist]. Innovation & chaos … in search of optimality. Retrieved December 14, 2013, from http://pogus.tumblr.com/post/69946043092/enterprise-masterworks-an-exemplary-project-based
Mellalieu, P. J. (1999). Beyond the Case Method: A Master Class for Enterprise Development. In Think Global! Act Global! The role and impact of strategic management in the development of small enterprise and new ventures: Proceedings of the Annual Educators Conference of the New Zealand Strategic Management Society, 7th Annual Conference (Vol. 1, pp. 293–304). Massey University, Palmerston North: New Zealand Strategic Management Society. Retrieved from http://unitec.academia.edu/PeterMellalieu/Papers/1571134/Beyond_the_Case_Method_A_Master_Class_for_Enterprise_Development