Crowdfunding: the new medium
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‘//’ The
NEW Medium
|How people are changing the way projects are funded
By Matthew Eng Image by Rocio Lara (flickr)
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crowd·fund·ing ˈkroudˌfəndiNG Noun the practice of funding a project or venture by raising many small amounts of money from a large number of people
Image by Simon Cunningham (flickr)
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Image by Mar=n Hajek (flickr)
The Pebble Smartwatch, by Pebble Technologies, was given
$10,266,845 in donations, exceeding their goal by 10,266% (source: Kickstarter)
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The Veronica Mars Movie, based on a TV show, garnered $5702,153 in donations, exceeding their goal by 285% (source: Kickstarter)
Image by Joits (flickr)
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Crowdfunding initiatives have eliminated
the need of traditional investors to fund
projects…
Image by Colbrain (flickr)
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… giving the creator full creativity over the project.
Image by Linus Bohman (flickr)
“Creativity requires the courage to let go of certainties.”
- Erich Fromm
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People who believe in the vision will aid financially to the development of the final product. You better make them
happy though!
Image by Rick Turoczy (flickr)
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Crowdfunding will become the
most widely used platform for
major & minor project funding
within the next 5 years.
Image by Brian Cypher (flickr)
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How are creators responding to this trend?
Image by Alex Barth (flickr)
So far…
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1,000,000+ successful campaigns were made in 2012, 81% higher than 2011
Image by Steve Wilhelm (flickr)
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$5.1 billion in funds were raised worldwide for crowd-funded projects in 2013.
Image by Sandor Weisz (flickr)
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Image by Eric Fischer (flickr)
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How big of a scale should I set for my project? Image by Jon Lee Clark (flickr)
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The average successful campaign is approximately $7000 and lasts 9 weeks. However…
Image by Jason Hargrove (flickr)
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Image by Bill AbboO (flickr)
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What type of project should I
choose?
Image by Brian Hillegas (flickr)
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The most popular type of project is a social cause (30%). Others include entrepreneurship (16.9%), film/art (11.9%), music (7.5%), and environment (5.9%). However…
Image by Kathryn Harper (flickr)
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Start something you enjoy! Your passion with spread towards others and will create interest in your project.
Image by Rex Hammock (flickr)
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A successful campaign requires grassroots marketing and peer-to-peer
communication (it’s attractive to millenials).
Image by Ed Yourdan (flickr)
Most likely generation to donate to nonprofits and projects
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Image by @Doug88888 (flickr)
Millions of startups have been brought to life through crowdfunding
platforms, and it will only increase going forward.
Will you be a part of the revolution?
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Sources: Anderson, T. (n.d.). Kicking Ass & Taking Dona=ons: 9 Tips on Funding Your Kickstarter Project. 99U.
Retrieved May 23, 2014, from hOp://99u.com/ar=cles/7143/kicking-‐ass-‐taking-‐dona=ons-‐9-‐ =ps-‐on-‐funding-‐your-‐kickstarter-‐project
Burma, D. (n.d.). Crowdfunding Trends and Sta=s=cs Infographic. CrowdMapped. Retrieved May 23,
2014, from hOp://www.crowdmapped.com/crowdfunding-‐trends-‐and-‐sta=s=cs/ Grant, R. (2013, April 24). Crowdfunding vs. seed funding: All money is not created equal.
VentureBeat. Retrieved May 23, 2014, from hOp://venturebeat.com/2013/06/24/ crowdfunding-‐vs-‐seed-‐funding-‐all-‐money-‐is-‐not-‐created-‐equal/
Why Millennials Are the Ideal Target Market for Crowdfunding. (n.d.). www.crowdsourcing.org.
Retrieved May 23, 2014, from hOp://www.crowdsourcing.org/editorial/why-‐millennials-‐are-‐ the-‐ideal-‐target-‐market-‐for-‐crowdfunding/31988
All images featured are under the Creative Commons
license from flickr.com