It's crowd-source funding fever! UK game industry trade group UKIE announced this week that it will be publishing a new crowd funding report that urges the government to pass new legislation that will allow game companies to take advantage of this financing model to fund their businesses or projects. The announcement was no doubt inspired by the success of Double Fine's Kickstarter campaign – which has raised over $1.3 million dollars so far.
"Double Fine’s Kickstarter project has today shown the huge potential of crowd funding to benefit games and interactive entertainment businesses," UKIE Chief Executive Jo Twist said. "We need the UK to be able to take full advantage of crowd funding and UKIE’s Crowd Funding Report, due next week, will outline exactly what needs to be done for this to be possible."
According to the UKIE's release, the growth and application of crowd funding is restricted by the current legal and regulatory framework in the UK. Because of this, the trade group is preparing a detailed report that details how the law could be changed to facilitate crowd funding and allow UK businesses to use it to raise money. This report will be released on February 17.