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URPOSE THIS study seeks to examine the relatively new trend in alternative financing; namely, crowdfunding and its role in funding start ups and new enterprises. Crowdfunding is the financing of a project by a group of individuals (collectively, ithe crowdi) instead of professional iaccreditedi entities or individuals such as banks, venture capitalists or business angels. Design/Methodology/Approach: The study examines how crowdfunding works.The concept of crowdfunding is also examined in the context of the related concept of crowdsourcing. The study examines the global market for crowdfunding and the rationale of businesses to crowdfund or crowdsource their new ventures, given the challenges of capital access for fledgling enterprises. The market for crowdfunding is examined in the context of different crowdfunding models. In this context, the study also includes illustrations of enterprises that have adopted specific models given their strategic objectives. Findings: The study finds that crowdfunding as a means of alternative financing is growing globally. Donation and reward-based entities still remain the largest group. However, equity based platforms are also raising funds in some European countries and Australia. Presently, equity crowdfunding is not legal in Canada and is sought to being legalized in the U.S. under the JOBS Act. Research Limitations/Implications: The study has a number of implications for future research, for instance, whether crowdfunding does indeed provide benefits of clustering? Also, future studies can examine different revenue sharing models in the context of equity crowdfunding models.