By all accounts crowdfunding is big and growing bigger.

The crowdfunding economy worldwide has tripled in size over the past three years and has injected more than $65 billion into the global economy, according to estimates by Forbes magazine.

The crowdfunding phenomenon had shifted fundraising power back into people's hands and Brett East, the brains behind SproutBack.com said he created the site to ensure some of that power remained in Australian hands.

"I have been a big fan of crowdfunding and followed leaders like Kickstarter pretty closely," he said.

"This time last year I was surfing through some of the projects they had and realised they weren't open to any kind of Australian projects."

Having launched the platform in January 2014, Mr East said SproutBack.com had differentiated itself by offering users more support than some of the larger international players that have dominated the Australian crowdfunding market were offering.

"We are particularly interested in Australian projects," he said. "Being Australian means we can provide a higher level of assistance."

The site provides users with access to a group of Australian mentors in fields from film, food and fashion to manufacturing.

Since entering the market, large crowdfunding brands Indigogo.com and Kickstarter.com have both come to Australia.

"That sort of hurt the differentiation that we had being exclusively Australian," Mr East said.

Despite the setback Mr East said he felt the market was growing at such a rate it was likely his platform would succeed alongside the other larger players.

"There is enough of a market," he said. "There are always new things coming on board and new ideas that could go to any platform."

Working on a pledge model means only successful projects (those that meet their target for capital) used the money raised, paid a percentage to the platform and delivered rewards to those that pledged support.

Mr East said everyone engaging in the project from the creator, the mentors, the supporters and the platform had a vested interest in the project's success.

"Fail rates happen when projects aren't properly prepared or don't have the right rewards in place," he said. "By providing our extra assistance at the beginning we try to eliminate those things."

Establishing an online business has allowed Mr East to work from anywhere, a freedom he said he isn't keen to give up any time soon.

Despite the recent flood of international competition in the Australian crowdfunding market, Mr East said he held the same belief as other Australian project creators and entrepreneurs – a good idea backed with home-grown support can go far.