Post on 07-Apr-2017
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Crowdfunding 2.0: The New Go-To-Market
Michael Hughes Director - Hardware, Design & Technology
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Validate Demand & Attract Further Investment
Campaign launched in 2012
Brain sensing headband?! = Couldn’t raise VC money
Innovative product – but high risk
Technology/ Toronto, CA
Muse
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Only after they proved demand and mitigated investor risk did they secure $6M in Series A funding
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• Campaign launched in 2013
• Unconfirmed questions at launch
• Do people even want an activity tracker?
• If so, how would they want to use it?
Misfit Shine
Learn From Your Early Backers & Iterate
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$846,6757,957 funders from 85 countries
…30% wanted a bracelet or a necklace…30% of backers were from overseas
…people willing to pay more for black color
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Misfit was acquired by Fossil Group in Nov. 2015
…for $260M!
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As Crowdfunding grows up, so do it’s Campaigners.
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Success is not ONLY defined by Money.
It’s defined by EVERYTHING
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• Validate your idea
• Gain awareness
• Connect with customers
• Create evangelists
• Raise money
It’s About the Crowd, Not just the Funding
Raised $12,271,426 Goal - $75,000
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Most Hardware Crowdfunding Campaigns Fail. Why?
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1. The big Misperception around Crowdfunding
2. Researching Crowdfunding is hard
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• Listed on ASX (Australian Stock Exchange) before campaign launch
• Build community & brand awareness
• Hit goal in <1 hour…raised ~$700K w/3 days left
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• Pre-campaign video viewed 11M+ times on Facebook
• Raised $1M+…
in ~3 hours!
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• Launching this Summer
• Working w/Ammunition, product design firm behind Beats headphones
• CEO was Senior Product Manager for Amazon Echo Dot, Kindle