What Is Crowdfunding?
Crowdfunding is when individuals pool their money together for a goal, cause or purpose. Typically the term crowdfunding has been used to describe business funding, where an individual has an idea for a business and required funding to get started or to continue growing the business and in exchange, provides shares, equity or rewards/gifts. Individuals such as their friends, family and other networks are then able to give funding to help support the business idea.
Does Medical Crowdfunding Exist?
In terms of crowdfunding in the medical space, this could mean raising funds for medical expenses such as treatments, surgeries or other medical costs. The goal or purpose revolves around improving the health and well-being of an individual.
However, in the United States, medical crowdfunding has been used by many individuals to fund research proposals or fund medical related businesses.
Crowdfunding in Australia for Medical Expenses
In Australia, the leading medical crowdfunding website is PeoplePledge (www.peoplepledge.com.au). PeoplePledge, is Australia’s first and only crowdfunding website that helps Australians raise funds for medical related expenses.
Unlike other crowdfunding websites, PeoplePledge specializes in creating fundraising pages for medical purposes to help Australian families and to give better health care to individuals across Australia.