Move over, New York City and San Francisco. According to a recent report, London has been dubbed the world’s capital of crowdfunding.
According to Forbes, just over 250,000 crowdfunding have been launched internationally so far this year and London is leading the charge in terms of cities, with 12 new projects launching on average each day.
Founder and CEO of The Crowdfunding Centre, Barry James, stated, “When we look at the database, I was stunned to see that London sees the most crowdfunding activity on most days.” Sharing his thoughts as to why the city is contributing so many projects, Barry added, “It’s clear form the figures that the hyper-connectivity of the startup community in London is helping. There is also the fact that compared to the U.S., where centers of excellence are scattered around the East and West coasts, London has become a center of many specialisms.”
The data also revealed that London is a leader for crowdfunding projects in business, technology, publishing, and gaming industries. University of California’s Dr. Richard Swart, said, “London and the UK are continuing the growth documented in our research. It is becoming clear the UK is leading the market in many respects.”
“[The UK] is the best jurisdiction for crowdfunding in the world,” says Jeff Lynn, the American-born founder of crowdfunding platform Seedrs. “The US and the rest of Europe are far behind the UK, which has a sensible regime that protects investors while still creating a commercial model in which to operate. Hats off to the government for their enthusiasm.”