By Belinda Hsieh 謝璧蓮
The term crowdfunding was coined in 2006, with France’s gift of the Statue of Liberty to the US in 1885 being cited as an example.
When the US failed to provide the necessary funding to build a base for the statue, the New York World newspaper launched a campaign for donations from the public to complete the project.
Perhaps the most well-known instance of crowdfunding in Taiwan occurred during the Sunflower movement in 2014. To let the world know what was happening in Taiwan, a group of young Taiwanese caused a sensation when they ran a full-page advertisement in the New York Times that had been financed through an online crowdfunding platform.