Crowdfunding News: April 1

crowdfunding newsWe highlight the week’s top crowdfunding news from around the world that you may have missed. This week: crowdfunding the cure to Zika; report measures size of China’s shadow banking; and more.

  1. Zika diagnostic tool approval sought | Otago Daily Times
    “Ubiquitome last week announced the launch of a crowdfunding campaign in the hopes of accelerating the manufacture of a United States Food and Drug Administration (FDA) approved molecular diagnostic test for Zika before the Rio de Janeiro Olympics in August. The campaign comes amid concern from some athletes about the rates of Zika in Brazil before the games, during which more than 500,000 people from around the world are expected to visit.”
  2. Chinese shadow bankers go mainstream | Global Trade Review
    “A new report outlines how much online platforms have grown throughout Asia, with P2P lending, crowdfunding and invoice trading (factoring) the most common forms. The report, co-authored by researchers from the Universities of Sydney, Cambridge and Tsinghua, finds that “China is the world’s largest online alternative finance market by transaction volume, registering US$101.7bn (or Rmb638.7bn) in 2015”. This represents 99% of the total Asia Pacific region.”
  3. Technology Expands the World for African Artists | NYTimes

    “Julie Taylor, a former Google executive living in Johannesburg, set up the online African art gallery Guns & Rain two years ago to promote artists from South Africa, Botswana, Namibia and her home country, Zimbabwe. She has mounted online exhibitions, including one with the South African artist Richard Penn, as well as one-night-only pop-up art shows, where she has used crowdfunding to raise money. ‘Globally, art has moved online in a big way,” she said. “But despite that there are dozens of online art ventures, African contemporary art is still very much missing. I am trying to change that.'”

  4. Jack Ma and Alibaba just dove headfirst into the world of competitive video games | Tech in Asia
    “WESG, which will be run by Alibaba subsidiary AliSports, will be a new Shanghai-based multi-game eSports tournament. It will include competitions in Dota 2, Counter-Strike: Global Offensive, Starcraft II, StarCraft II: Legacy of the Void, and Hearthstone, among other games. The total prize pool will exceed US$5.5 million, with the most popular games (Dota 2 and CS:GO) getting prize pools in excess of US$1 million that will also be bolstered by crowdsourced funds.”

  5. Crowdfunding Leads to Breakthroughs in the Medical Sector | International Business Times
    “Crowdfunding has become the response to a crisis caused by federal budget cuts, according to Bio Science and Technology . The Congressional Research Service confirms that the National Institutes of Health (NIH) has reduced the number of projects it has approved from 33 percent in 1997 to a mere 19 percent in 2011. An updated report by the Daily Star Albany says that NIH’s clinical trials have been cut down from 1,376 in 2006 to 1,048 in 2014.”