A method of funding innovative product ideas that are too early for investors. In this method, innovators reach out to like-minded supporters, early adopters and fans, who are enthusiastic about backing early stage ideas. The crowd not only contributes money to develop the product but offers something just as valuable: early market validation for the product, and a chance for the entrepreneur to build reputation and credibility.
source: https://ecampusontario.pressbooks.pub/mediainnovationandentrepreneurship/back-matter/glossary/
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