Posts Tagged ‘Indiegogo’

Crowdfunding interview
15Megan Jones

Megan JonesMarch 13, 2014

Technoport 2014: Liz Wald explains international crowdfunding

At the end of April innovators, entrepreneurs, business leaders and other technology pioneers will gather in Trondheim for Technoport 2014. In the run up to this exciting event, we will publish a series of interviews with our speakers to learn more about how they are driving innovation. This week we hear from Liz Wald, Head of International at crowdfunding website Indiegogo

How would you explain Indiegogo to someone not familiar with crowdfunding?

Crowdfunding is the process of raising money from a large number of people to fund the projects that matter to them, resulting in significantly more funds and awareness than would ever be possible through a single contribution. As with Indiegogo, this primarily happens online, where money is exchanged, often for an item called a “perk” in a way similar to other online marketplaces like eBay, Airbnb and others. 

There is no approval process for campaigns on Indiegogo (unlike other platforms, like Kickstarter). Why is that?
We welcome a diversity of campaigns spanning creative, cause-related and entrepreneurial projects. This gives campaign owners and contributors the chance to fund what they care about most, without restrictions.  We don’t think we should judge who should raise funds for their idea, but rather the crowd should choose to fund or not based on their interests.

In keeping with the company’s mission to democratize funding, it’s important for Indiegogo to remain an open platform. With no application process or waiting period associated with launching a campaign, individuals can start raising funds immediately, without delays or bottlenecks. Further, we do not curate, which means that we, as a third-party, don’t arbitrarily define the value of any campaign on behalf of the campaign owner.

What, in your view, are the hallmarks of a successful technology crowdfunding campaign? What are some examples of innovative projects?
Beyond raising money, crowdfunding provides several benefits for individuals and organizations. First, a crowdfunding campaign creates a unique opportunity for market validation and increased access to social networks, amplifying overall awareness as like-minded people continue to visit and share your campaign. Second, entrepreneurs can receive early customer feedback, giving them an advantage as they refine their service or product. Third, those who crowdfund gain access to emails and data analytics, providing crucial insights as they move forward once the campaign is over.  This is as true for a creative campaign as a tech-focused one.

One great example is the wireless activity tracker called Misfit Shine.  In addition to raising close to $850,000 from nearly 8,000 backers, they got invaluable feedback on their product design and as a result of the campaign launched both a necklace and a bracelet as well as their original clip-on product. This kind of customer feedback would be nearly impossible if just one or a handful of investors had backed the company.  Even better, they finished their campaign with a great database of users, plenty of funds to create their product, and the proof of concept needed to then take their idea to investors if they chose to do so.

There are campaigners and contributors from nearly 200 countries on Indiegogo. Do you find that certain types of projects are more popular in different countries or regions?
Indiegogo doesn’t focus on any particular category. Below are a few examples of categories of campaigns on the platform:
– Film
– Web/Video
– Music
– Gaming
– Design
– Small Business
– Community
– Health
– Education

Interestingly we’ve seen a pretty solid mix from all corners of the earth.  While hi-tech projects might be obvious in places like the US, Germany and Israel, we see them from less expected locations as well.  We also see amazing innovations from places like Rwanda where a solar phone charger is more a necessity than a novel idea.  The bottom line is that creativity and ingenuity exist everywhere.

Indiegogo currently accepts and disburses funds in USD, CAD, EUR, AUD, and GBP. Do you foresee it accepting Norwegian kroner anytime soon?  
We’re consistently improving our platform to better meet the needs of our international customers and will continue to offer more global payment options as we move forward.  Whether it’s the krone or yen that comes next, the important thing is that we continue to give people options both for raising funds and for making it easy for contributors to participate.

Want to hear more?

Liz will feature at our Venture Angels and Crowd Investors event at Technoport 2014. She will elaborate on the topics explored in this interview as we shed light on the future of funding new ventures. Learn more about Technoport 2014.

FluorescentTobacco
15Megan Jones

Megan JonesFebruary 17, 2014

10 Exciting Crowdfunded… Gadgets

With crowdfunding, anyone can help turn the craziest of dreams into a fully functional reality. From the innovative to the sustainable to the just plain wacky, these 10 successful campaigns give a taste of the great new tech coming out of crowdfunding.

1. WakaWaka Light and Power

WakaWaka Power

Image: WakaWaka

This lamp is solar powered and super efficient, lasting for up to 80 hours. It can stand up on its own or attached to a bottle top. The WakaWaka Power, released in 2013, can also be used to charge a smartphone, MP3 player or tablet.

Even better, the profits from sales in the West are used to give WakaWakas to some of the 1.2 billion people without access to electricity. Replacing kerosene lamps with solar light cuts down on CO2 emissions, reduces health problems like burns, and saves families money. That makes WakaWakas a win-win!

These nifty gadgets have had three crowdfunding campaigns – Kickstart and Symbid for the WakaWaka Light, and again on Kickstarter for WakaWaka Power. Or you can check out the website to buy the gadget yourself.

2. Glowing Plant

Image: WIRED

The boundaries between technology and nature are sometimes hard to define. No more so than with this crowdfunding project, which caused quite a stir last summer when campaigners offered to give away free glowing plants to their Kickstarter backers.

The project seeks to develop sustainable, natural lighting by genetically modifying plants to glow in the dark – but its wild popularity comes from its wacky, science fiction appeal.

The founders describe their crowdfunding success as an exciting new development for synthetic biology, but critics worry about the environmental risks when GMOs are freely distributed. In the wake of this controversy Kickstarter has banned GMOs as rewards, alongside guns and alcohol. Interested people in the US can still pre-order glow-in-the-dark seeds or plants on the Glowing Plant website, but distribution to Europe is illegal under EU law.

3. Wood. Head. Phones.

Image: Inhabitat

Except for the wire inside them, these headphones are made entirely of wood. The inventor, a 19-year-old product designer from Oslo, named them after the Norwegian word “treskalle” – literally meaning “wood head”, or “stupid” – because, as he says in his crowdfunding video, “this is, in a lot of ways, a stupid product”.

In spite of this modesty, the headphones supposedly have a sweet sound and are custom-made for each person in ash, oak, cherry, or walnut. It’s not clear if you can still buy your own Wood. Head. Phones., but the Facebook page is a good place to start looking.

4. Kano

Image: Kano

If you’ve ever wanted the satisfaction of building your own computer, then look no further than Kano. For geeks and newbies of all ages, this cool kit comes with 11 components – including how-to guides – and is cute enough to give mainstream laptops a run for their money.

With Kano you can make games and learn code, and it’s open source, so using it can only get more fun. The smash hit Kickstarter campaign raised 15 times the original goal, and you can find out more or pre-order your own at the Kano website.

5. Morpher

Image: Indiegogo

Do you use a helmet when you cycle? Many people don’t, and this British inventor thinks he’s found one reason why: helmets are too bulky, especially for people using a bike rental scheme. The solution? A folding helmet.

Morpher folds in half, making it easy to slip it into a rucksack or laptop bag. It should be as safe as an ordinary helmet – most of the crowdfunded money will be used to meet international safety standards – and even comes in pretty colours. Check out the Indiegogo campaign or Morpher website for more info.

6. BUILD

Image: Indiegogo

Tired of boring furniture? Well, designers in Germany have developed modular shelving that is non-toxic, long lasting and completely recyclable. Beneath its funky shape lies a high-tech structure of polypropylene plastic foam that also makes it lightweight and shock-absorbent.

With BUILD you decide what shape you want, and can put it on a wall or use it to divide up a room. Plus if you move house or need an extra few chairs for that big dinner party, each block doubles up as a box, a seat, or even a cooler. Check out the Indiegogo crowdfunding campaign, or go straight for the product.

7. ThePresent

Image: thepresent

OMMMMMMMMM.

Relaxed yet? No? Well maybe it’s time to welcome ThePresent into your life. Its New York inventor touts this as the first 365-day clock – in one year the hand only rotates once around the face. With its colourful display to evoke the changing seasons, this clock is a reminder to stop and smell the roses.

The Kickstarter campaign has a great video about how the clock was made. Check out ThePresent website to learn more or get your own.

8. JACK

Image: autoevolution

Between walking and cycling lies a third choice for the eco-friendly commuter: the electric, folding scooter. JACK, as this Dutch prototype is called, weighs less than 20kg, can be charged in a car or home, and fits easily in a car boot or on public transport.

JACK can travel at speeds up to 25kph (15mph), but with a full battery it only lasts 20k (12.5 miles) so it’s more suited to a city spin than a road trip. All the specs are on the Symbid campaign page or the JACK website.

9. Tellspec

Image: Tellspec

If you’re human, you’ve probably worried about what’s in your food at least once. Does that apple have pesticides on it? Are there nasty additives in my pre-packaged sandwich? How many calories are in that slice of cake?

Tellspec hopes to answer these questions. Through spectrometry, Tellspec uses a laser to scan the chemicals inside a piece of food, and then wirelessly sends the results to your smartphone. For anyone with a food allergy, watching their weight or just keen on good food, this is definitely a product to watch. The Indiegogo campaign finished in November, so stay tuned on the website for launch as early as August.

10. Emotiv Insight

Image: Kickstarter

It’s not a jetpack, but it comes pretty close. The Emotiv Insight will allow you to move objects with your mind. With previous models, people have used their thoughts to create music, drive a car, manipulate a robot, type on a keyboard, and operate a wheelchair. This new model, crowdfunded on Kickstart, should also be able to record emotions, stress levels, physical fitness and facial expressions.

Emotiv Insight works through electroencephalography (EEG) to interpret the neuron signals  in the user’s brain. To make it more accessible, designers are making this gadget lightweight and cheaper, and adding dry sensors (so you don’t need to smear gel on your head every time you use it). Whether it’s helping people recover from injury, manage a disability, or just try out something awesome, this gadget screams “watch out, world”.

 

Is there a gadget we’ve left out? Which one would you choose?

HOOK
60David Nikel

David NikelJanuary 24, 2014

Crowdfunding Success Stories – HOOK

Last year I reported on the success of the Norwegian crowd-funded project HOOK:

Whether it’s due to the funky design, the clever copywriting (strong as an ant, smart as an elephant), the successful $20,000 crowdfunding project, its sheer simplicity, or the fact the inventor spent months researching the idea in public restrooms around Europe, I’m not too sure. I’m not the only one impressed by Hook, a shockingly simple product that fits between a door and doorframe to provide you with a place for your jacket, and slips neatly away in your wallet. (Arctic Startup)

Following the product’s launch and an appearance at the Tokyo Designers Week, I asked creator Bjørn Bye to reflect on the crowdfunding approach.

What inspired you to try crowdfunding?

I have known about crowdfunding from the start of Kickstarter and Indiegogo and have been fascinated by the concept since then. In 2012 my brother and a friend of mine launched a project, and I followed the process from the sideline. The decision to launch HOOK on Indiegogo was both scary and fun. Still, just looking at five or ten project videos on any crowdfunding platform is inspiring and a push to just go ahead.

What was the waiting experience like?

The waiting is an ongoing thrill for the whole duration of the campaign. Not only do you check the progress yourself four times a day, you also know that a lot of your friends and family stop by regularly to see if they have put their money on a good horse. In the case of HOOK there was a quite rapid climb to about 50% of the funding. Then there was a long nerve-wracking quiet period. The campaign went through the Norwegian summer holiday, and I guess that was the reason for the halt. At the end of July I got a few good articles in the right media, and the funding started moving again.

Would you do crowdfunding again, or would you look to investors in the future?

I think it depends on the project or product. In the case of HOOK I had a confirmation on my patent application both for Norway and abroad. I would not have launched HOOK without the patent. The good thing about crowdfunding is that if you succeed you don’t have to sell out shares at an early stage. Instead you build value (if you succeed) and you build your first market and sales statistics. Investors can be a good and necessary stage in an entrepreneurial business, but they sure know what they want for their money.

Finally, any tips for those considering a campaign?

Yes, put effort into making a fun, inspiring and personal film. Pull as many favours as you can from people you know to make it as good as possible. Work on the marketing of your campaign prior to launch. Some successful projects have worked on PR and information months before the launch. I started working on the promotion after the launch and to get attention in the web-jungle is not easy!

Set your goal to what you really need and perhaps even a bit less. The psychology of the community is that if it doesn’t look like you will reach your goal, people wait and see. If you reach your goal early (due to a lower target) more people might back your project since it is a success. There are several blogs with good tips on how to work on a crowdfunding campaign. Search and read a few of these, and if you find tips that strike you as good ideas for your campaign, they probably are.

See the original HOOK crowdfunding project here!