The crowdfunding industry made it clear it isn't going anywhere last year. Popular crowdfunding platforms like Kickstarter and Indiegogo made it simple for entrepreneurs to fund their creative projects by soliciting donations from the general public. With more than 600 platforms worldwide, crowdfunding has grown from a $530 million industry in 2009 to nearly $2.7 billion last year, according to a recent study by Massolution, a research firm specializing in crowdsourcing businesses.
The relatively new funding strategy -- in which entrepreneurs receive donations often in exchange for small perks or gifts -- is predicted to eclipse $5 billion in total funding in 2013, according to the study.
But not everyone has fully adopted crowdfunding. Platforms in Asia, home to more than half of the world's population, were responsible for only $33 million in funding last year—just over 1% of the total raised, according to the study. With so many entrepreneurs relying on the masses to jumpstart their projects, it's noticeable that the largest concentration of people on the globe appears to be uninterested.