Views on Crowd funding websites like Kickstarter, and Indiegogo where members can fund inventions, a

[froggyboy604]

I think Crowd Funding site is one of the best ways to raise money to invent things like the Ouya game console which got funded on Kickstarter instead of other ways to borrow money from a bank, or a single person which both can be hard, and expensive since the bank would want interest when you pay back the money you borrowed, and the single person would want a large percentage of your company's earnings, or stocks.

Crowd Funding is also a good way to get free advertising for inventions since without Kickstarter, or Indiegogo a lot of smaller companies like Ouya Game console would not be as well known because a lot of blogs like writing about new projects from Kickstarter, and Indiegogo.

Kickstarter, and Indiegogo help create innovative products by making it easier for fans of a invention to donate to the inventor who are innovative rather then people waiting for companies like Blackberry who don't want to take risks by being innovative until they are forced to by the competition like Apple, Google, and Microsoft.

http://www.youtube.com/watch?v=iOi-XVXLGwM

Yancy Strickler, Co-Founder of http://KickStarter.com, tells how people are funding their entrepreneurial endeavors using his website.

http://www.youtube.com/watch?v=OgXzJX2wlwM


http://hollywoodreinvented.com

Crowdfunding is changing the way people raise money to fund their ideas, projects, causes and businesses. http://IndieGoGo.com is at the forefront of the Crowdfunding revolution and the site provides a comprehensive variety of tools to achieve your funding goals.

I sat down with IndieGoGo COO, Danae Ringelmann and asked her to give us the details of how people are using the site and for what types of projects. Here is a 4:30 introduction of our full 40 minute discussion.

 

[Black Angel]

I think it can be great for raising awareness and even finding some investors but I think that the legality of it all will be confusing for all involved. All who donated would want a piece of the pie and with so many pieces being given out, doesn't leave much room for profit.

I think that there should be a similar, non-profit site geared toward inventors and would-be investors to do business and have a limit on the number of investors or the amount each investor can invest in a project or both, so that everyone can get their fair share and a profit can still be made.

Sent from my SGH-T869 using Tapatalk 2

 

[froggyboy604]

Most of the Kickstarters, and Indieagogo campaigns which I read about don't share profits with people who made pledges, but they do get a T-shirt, the invention/product, etc. It is sort of like Public Broadcasting where you donate money to fund PBS, and you get a Full set of DVDs, or a PBS book bag, and umbrella if you donate enough money.

The donater usually get the item which the inventer or artist made like a watch, music cd, DVD, etc if they donate enough money. For people who pledge a lot of money, they get the product, and something more like an extra products, or an invitation to the launch event.

Although, sometimes the inventer sometimes does not finish the product, and the donaters gets nothing.