Crowdfunding has been one of the most innovative developments of the last decade, and has allowed a range of projects to attract the financing they needed to succeed. Starting in the creative arts, the range of projects supported by crowdfunding has broadened in recent years. Perhaps one of the best examples of the potential of crowdfunding has been its use as a platform for the funding of university research projects, pioneered by Deakin University and Pozible in 2013.
With crowd funding in Australia currently restricted to providing non financial benefits, the Government has undertaken a consultation on the model of regulation required to allow crowdsourcing to be used by firms to raise equity. The consultation draws on a model developed by the Corporations and Markets Advisory Committee (CAMAC).
Research Australia is broadly supportive of the model proposed by the Corporation and Markets Advisor Committee (CAMAC). The responses to the questions raised in the Discussion Paper outline some proposed refinements to that model and identify some key questions that should be addressed.