Crowdfunding is a great way for Irish startups to raise new money by issuing equity in the company.
Most startups cannot borrow money from banks unless the founder entrepreneur is prepared to give personal guarantees or put their house up for security.
Organisations like Enterprise Ireland like to see some evidence of new venture traction before investing money in a startup, and even then EI typically requires the entrepreneur to match whatever amount of money EI is prepared to put in.
But that was all before equity crowdfunding came along. The industry is huge in the UK and the USA and a number of European countries are now also demonstrating evidence of growth.
It’s only a matter of time before the product takes off in Ireland.