October 22, 2014
Crowdfunding is the practice of funding a project or business by raising money from a larger number of people online.
The crowdfunding industry is growing very quickly. According to Massolution, an LA based research firm, in 2012 308 crowdfunding platforms across the world raised $2.7 billion dollars. From technology, to music, crafts to publishing, people are pledging money to bring ideas to life, support expansion, and help companies innovate.
The wine industry is getting involved too. And in some really exciting ways.
Grape Collective recently tracked down a few wine-related projects using crowdfunding.
The most successful crowdfunding effort they discovered was by English winery, Chapel Down.
"In early September, the they set out to attract outside investors via equity crowdfunding site Seedrs, with the goal of raising £1.6m ($2.6m) to foot the bill for vineyard expansion and the construction of a new winery and brewery. By offering consumers the opportunity to buy shares in the company, those supporting the initiative receive financial benefits as well as discounts and perks like free tours and tastings. Chapel Down has already succeeded in attracting over 1,100 new investors, and has even broken the website’s record for the amount of money raised for a single project."
A quick look at the list shows the variety of projects being crowdfunded, even within the wine industry: a rooftop winery in Brooklyn, modular wine storage with unlimited potential to add-on, an authentic California rosé from Russia, and even a project that sets out to make the biggest and boldest Cabernet Sauvignon in 2014.
For the complete story from Grape Collective, click here.