ABC LATELINE Michael Atkin Byline: "Australian website Pozible is helping to connect generous donors with needy projects, but there are concerns about how the website operates." The article introduces crowd-funding as an 'innovation of the internet age', bringing together donors and projects in need of funding, using an environmental group called Green Way Up as an example project, and a website called Pozible as an example of a crowd-funding resource. As an introduction to crowd-funding it presents Green Way Up as being both environmentally and socially conscious, as well as a good example of a crowd-funded project worth attention: Bob Miles and Chuck Anderson want to travel around the world on bio-fuel converted from recycled fats and oils obtained, in one case, from the waste of a chicken shop. However, Green Way Up may not have had such a start toward achieving this venture if not for Pozible; a crowd-funding resource whose Co-founder, Rich Chen, created the site 'because he was sick of hearing about exciting projects which failed to go ahead because they lacked money' (Atkin, 2011). Though it presents a hopeful opportunity to projects and financial benefactors alike, the article turns critical of the website's operations, suggesting Pozible may be 'violating the Corporations Act by raising money and offering rewards without issuing a prospectus' (Atkin, 2011).

Jennifer McKay, Professor at the University of South Australia is also concerned that Pozible infringes upon consumer protection laws and security laws, but when asked by Lateline, the Australian Securities and Investment Commission said they were 'considering whether crowd-funding poses any regulatory concerns' (Atkin, 2011). Green Way Up is presented as an exception rather than a rule for projects seeking crowd-sourced funding; '[p]rojects only receive the money if they reach their funding target within 90 days and currently two-thirds fail' (Atkin, 2011). Built upon and relying heavily on trust, the article concludes there is potential risk for all involved. Atkin, M. (2011). Website helps to make dreams come true. Lateline. Retrieved from http://www.abc.net.au/lateline/content/2011/s3180494.htm.

Crowdfunding creative projects and ideas Australia's 1st crowdfunding platform developed for creative individuals, groups and organisations. Pozible declares itself a new platform for crowd-funding community and creative projects; 'developed for artists, musicians, filmmakes, journalists, designers, entrepreneurs, inventors, event organises, software developers and all creative minded people to raise funds, realise their aspirations and make great things possible' (About Pozible, n.d.). As a design, the website is clean, clear, and dynamic, articulating its purpose and guiding visitors easily to content. However the most interesting content is concealed away upon first load and only exposed when a visitor 'uncovers' it, presenting a slideshow of success stories detailing the amount earned by each project from how many supporters, ranging from over $175k from 1145 supporters for an independent journalism project to $786 from 13 supporters for a short film production. The site instead displays by default the current, on-going projects in need of funding, including the amount raised so far, the percentage of the overall goal that amount equates, and how many days remain for the project to achieve their projects goal. A section below the featured projects displays the weeks Top Supporters, providing a reward for generous supporters through public recognition. On the first page visitors can find evidence of success stories, creative projects in need of their support, and see the acknowledgement afforded to supporters.

The 'Intro Video' does not give greater detail, but the website claims to have been featured in the Sydney Morning Herald, ABC, CREATIVE, and mybusiness. No direct links to these articles are included. Delving deeper into the site following the main menu links reveals more information and articles about crowd-funding, more projects and options to arrange and search, as well as guidelines, tips, and FAQs. 'Got a project. Need funding?' Follow the banner to get an invitation. You will need to apply for an invitation. Pozible. (n.d.) Hi. Meet Pozible. Retrieved from http://www.pozible.com.au.

Action for Australia GetUp! is a not-for-profit 'independent, grass-roots community advocacy organisation giving everyday Australians opportunities to get involved and hold politicians accountable on important issues' (About GetUp, n.d.). Rather than users starting individual projects and promoting them for donations from supporters, GetUp! hosts movements for causes of specific interest to Australians, including financial support for advertising and other schemes, to gain attention from politicians and the government at large, such as collecting 27,000 signatures petitioning the repeal of undemocratic laws preventing thousands from voting in the 2007 elections. A few dollars each from tens of thousands of supporters has produced high-profile ad campaigns that have helped raise awareness for issues important to the Australian people. GetUp! campaigns rely on social media and word-of-mouth to get the community informed and involved, requesting recommendations for new campaigns from everyday Australians concerned about government policies. According to Belleflamme, Lambert, and Schwienbacher (2011) this community involvement constitutes crowd-sourcing, where ideas and suggestions are sourced from the 'crowd', along with volunteers and appeals for solutions. In the spirit of transparency the movement advocates, GetUp! provides access to its annual reports as well as a 'real-time snapshot' of the donations members are contributing to campaigns, updated half hourly. This snapshot includes unique actions, new members, number of donations, the total collected from donations, average donation, and how many are first-time donors.

Financial donations are not required to participate in GetUp! campaigns, but the necessary funds to produce a commercial for exposure on national television is sourced from contributions by supporters: crowd-funding for a community cause. Unlike crowd-funding for individual projects, such as those found on online crowd-funding tools such as Pozible, investors in community campaigns may have no expectation of reward. The GetUp! website clearly indicates its intentions, guiding visitors to campaigns to inform, raise awareness and make contributions toward improving the Australian community through policy and reform. GetUp. (n.d.) GetUp! Retrieved from http://www.getup.org.au. Belleflamme, P., Lambert, T., & Schwienbacher, A. (2011). Tapping the Right Crowd. Retrieved from http://ssrn.com/abstract=157817.

by Paul Belleflamme, Thomas Lambert, and Armin Schwienbacher, February 13, 2011. This academic, peer-reviewed article defines crowdfunding as belonging within the broader concept of crowdsourcing, in which a 'crowd' is used for gaining feedback, solutions, and ideas. The objective is to use the crowd to collect investment money in cases of financing individual projects (Pozible), or to raise social awareness in community-minded ventures (GetUp!). Belleflamme, Lamber, and Schwienbacher equates crowdfunding with pre-ordering, menu pricing, and price discrimination, and studies the circumstances under which crowdfunding is preferred to more traditional forms of acquiring funds. They describe crowdfunding as sharing a model with pre-ordering due to the expectation of investors receiving some form of reward for their contribution, in much the same way as pre-ordering a product, such as a game, entails some reward for investor support and interest, such as receiving a copy of the game early, and at a better price. Price discrimination is the disparity between the cost for the investor and the consumer (someone who waits for official release before purchasing). The article describes the advantages of enhanced user experience for investors and the allowance of price discrimination for 'a larger share of the consumer surplus', and the disadvantage of constraints in the amount of initial capital required (Belleflamme, et. al, 2011). The article continues with an empirical survey analysis, and key features from the perspective of industrial organisations, including sourcing information, building communities, and generating product interest, as well as the success of non-profit organisations using the crowdfunding model.

It is suggested (Glaeser & Shleifer; Ghatak & Mueller, cited in Belleflamme, et. al, 2011) that 'crowdfunders care about social reputation and/or enjoy private benefits from participating in the success of the initiative'; a vital asset for charities and entrepreneurs alike. The article concludes with the implications crowdfunding has for market research, and that it may be viewed more broadly than simply raising funds. Belleflamme, P., Lambert, T., & Schwienbacher, A. (2011). Tapping the Right Crowd. Retrieved from http://ssrn.com/abstract=157817.