Alt-Finance Explodes onto the Radar of Governments Around the Globe

As Crowdfunding and alternative-finance explode onto the radar of governments and policy-makers as well as financial institutions around the world the University of California at Berkeley is the, perhaps unlikely, meeting point between all that and academe this week.

Governments across the world are starting to take a close interest with the UK’s Chancellor George Osborne firing the starting pistol declaring “the dawn of a new era” and that financial innovation is no add-on, but the future. It is perhaps no co-incidence that London was recently unveiled as the world capital of Crowdfunding and so, de-facto, alternative finance more generally.

“The data and maps we have and have shared today with Berkeley’s second annual symposium reveal Crowdfunding to be the most virulent example of a disruptive technology creating a transformative new industry across the globe” commented Barry James Founder & CEO of The Crowd Data Center – a part of TheCrowdfundingCentre.com. “Which is why traditional financial institutions, regulators and governments need the kind of research and insights only the academic sector can provide. And soon – things are moving very fast. Industry and academe must hold hands to provide them”.

Academe seems to agree. James, has just been appointed a Visiting Fellow at Portmouth University Business School, who also helped launch “The Crowd Research Network” last month dedicated to the task and bringing academics together with thought leaders, industry experts and the data.

Dr Joe Cox, Principal Lecturer & Principal Investigator, Crowdfunding Research, University of Portsmouth, UK, said “What’s unfolding is as profound as it is fascinating. Conducting meaningful research into this new phenomenon requires detailed, comprehensive and up-to-the-minute data. The Crowd Data Centre have once again delivered a major innovation that allows us to see the meteoric rise of collaborative finance unfolding at local, national and international levels”.

Sherwood Neiss partner at Crowdfund Capital Advisors and one of the architects of the USA JOBS ACT and co-host at the Berkeley conference commented ”For the first time we can see how Crowdfunding is spreading and the interactive map makes it real and shows how present and pervasive it already is. This is a great achievement and a breakthrough for us all.”

Conference organiser Dr Richard Swart who is Director of Research, Program for Innovation in Entrepreneurial and Social Finance, Coleman Fung Institute, University of California, Berkeley said “Since our first conference last year, we have seen an explosion in interest in crowdfunding and alternative finance from policy makers, academic experts, governments and think tanks around the world. As the leading research center in the field we have been privileged to get early access to these new tools and data sets that are shedding light on how this industry is transforming entrepreneurship, innovation and early stage capital formation globally”

James told the conference, via video-link from the UK, “As I’m sure you’ll know we’ve long been committed to supporting the growth of Crowdfunding across the globe. So we’re delighted to be working with you all – across sectors, disciplines and divides – to create a deeper understanding of this powerful, transformative phenomenon. Exploring it’s full potential for change – for empowering, people, creativity, innovation and entrepreneurship. Working together to make the world a better, more equal and democratic, place for everyone.”

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