Crowdfunding

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Crowdfunding

A novel system for inventors and entrepreneurs to bypass traditional funding methods such as venture capital by raising small amounts from a large group of individual backers. Made popular by sites such as Kickstarter, crowdfunding can act as a pre-ordering system, allowing the project’s creator to reduce risk by gaging consumer popularity before production even begins.

Source:

http://www.aeris.com/iot-dictionary/

References:

https://en.wikipedia.org/wiki/Crowdfunding