Words of guidance and insight from an experienced entrepreneur and private investor to high-tech entrepreneurs, start-up companies, and fellow investors.
Tuesday, April 19, 2011
Crowdfunding...you need to know what this can offer!
Crowdfunding (google it, and at least check out what wikipedia says about it) has been around for a while, more commonly known as a way to raise capital for musicians, disaster relief, and other charities. But crowdfunding can successfully be used to raise capital for a high-tech startup as well. A company I'm currently working with recently raised over $24k this way! And their goal was $20k. They did this through IndieGoGo. But wait, there's more to this. Not only did they get $24k and kept 100% of their equity, they now have hundreds of eager consumers, who contributed small amounts of money (for a T-shirt, or a mock-up prototype, etc.), just waiting for their product, and giving them early feedback on design features, etc. Pinch me...am I dreaming? No losers found here.
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