Introduction

Kaizen eno Yon Dankai – “Improvement in 4 Steps”, a film shot by the Economic and Scientific Section group, Japan in 1951 tasked with improving Japanese Management Skills. Thus Kaizen was introduced to Japan to refer to activities that continually improve all functions and involve all employees from the CEO to the assembly line workers. The success of any concept depends on its continuous improvement. Crowdfunding is a bye-product of the global Economic Meltdown which prevented projects from being sponsored by Organizations and Financial Institutions. To continually improve on innovative minds, a concept was sought to raise capital ethically to finance a project. Alas! Crowdfunding was birth.

Crowdfunding is derived from the broader concept of Crowdsourcing. The vision of crowdfunding is to harness the power of the crowd to fund small ventures, projects that are unlikely to get funded by traditional means, using crowdfunding platforms or social networks, such as Twitter, Myspace, and Facebook.

The concept has helped quite a number of Innovators, Inventors and Entrepreneurs as the case may be in realizing not just the capital to launch their product(s) but also the support of the market and most importantly feedbacks from the market. It also serves as a tool which brings the product to the acceptance of the potential consumers before it being launched.