Indigogo Requires Backer Updates
Thanks to Josh Enderle for sharing this article on changes to the policy at Indigogo. Backer faith – the confidence that project supporters have in the reliability of project creators – is core to the existence of the crowdfunding system.
Listening to the investor and entrepreneur panel at last night's Hyde Park Angels seminar on raising venture capital, it was clear that good investors value relationships with entrepreneurs who are capable of clear and timely communication. While backers are not technically investing in the projects they support, they are sharing a considerable amount of risk with crowdfunding entrepreneurs; Why wouldn't backers look for those same attributes in the creators they choose to support?