From the forward written by Bryan Zhang Co-Founder and Interim Executive Director Cambridge Centre for Alternative Finance:
“Following their trailblazing work on Crowdfunding’s Potential for the Developing World (infoDev,2013), the authors of this report [Crowdfund Capital Advisors] carried out empirical research to assess the potential of crowdfunding in the Caribbean. It focuses on the prerequisite ‘building blocks’ for a thriving crowdfunding ecosystem – user capacity, laws and regulations as well as technology. It also put forward an array of actionable recommendations for key stakeholders, both public and private, to foster financial innovation, empower entrepreneurs and scale crowdfunding development in the Caribbean.
This assessment is comprehensive, lucid and timely. In essence, it provides a practical ‘road map’ for Caribbean nations to not only unleash the power of crowdfunding, but also to effectively harness it for the benefits of businesses, communities and the wider economy. To develop crowdfunding and make it work for individual countries, a deeper understanding of the evolving local market dynamics, the need of funders and fundraisers, the intricacy of regulatory environments, the robustness of legal system and aspects of technical capability is required. Therefore, as this report advocates, a holistic and ‘ecosystem-based’ approach would be best placed to unlock the potential of crowdfunding in the Caribbean, whilst ensure the development is sustainable and appropriately regulated.
The full report can be seen/downloaded here.