Kickstarter is the unlikely hero of the cyberworld, and a very very good idea. It’s a hard sell if you think about it; people who have great ideas, but no way to produce them ask you to buy items that have not yet been produced (and may possibly never be) to be delivered at a much later date. It’s not a formula that seems like it would work in these difficult economic times and with consumers who are accustomed to instant gratification, and yet Kickstarter has seen almost $275 million pledged to some 63,000 projects to date. This year alone, 7 projects have managed to raise over $1 million in funding.
Perhaps the most successful project has been Pebble. This project allowed people to design their own watches by choosing from a plethora of faces and a long list of useful internet-connected apps. Pebble connects to your iPhone and Android smartphones using Bluetooth. It vibrates when you have incoming calls, emails and messages. The Pebble is a minimalist yet fashionable product that allows you to download apps that can make it more user friendly. Use it to control your music, track your cycling or running performance and read emails and messages. With a pledge goal of $100 000, the Pebble managed to raise a staggering $10, 266, 845.
It’s not all unicorns and rainbows though, only about 44% of Kickstarter projects have reached their funding goals. Many of these products don’t go on to foster successful companies either. You have about a 44% chance of success and only a fraction of 1% of a chance of making a million through Kitckstarter funding. Still, Kickstarter provides a really amazing platform for the entrepreneur and gives those with great ideas an opportunity to make some real money.
If you want to support the little guys, help artists to sell their wares or have a great idea of your own, Kickstarter may just be the perfect platform to launch yourself to success.