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Crowdfunding, the Fast and Simple Head-start
 

Crowdfunding, the Fast and Simple Head-start

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A Fast and Simple guide to Crowdfunding containing Forms, Placement, Motivations and Examples, Presented by Sohail Abbasi from www.khoshfekri.com

A Fast and Simple guide to Crowdfunding containing Forms, Placement, Motivations and Examples, Presented by Sohail Abbasi from www.khoshfekri.com

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  • Hi there,

    I have a Indigogo campaign this time. But till now I´am dipappointed because there are a lot of 'silly-projects' like 'i want to have a playstation' this destroy everything for people who really invested a lot of work to show a good project.

    pls check out mine:
    http://igg.me/at/ratrun/x
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    Crowdfunding, the Fast and Simple Head-start Crowdfunding, the Fast and Simple Head-start Presentation Transcript

    • Crowdfunding, the fast and simple head-start By Sohail Abbasi (@SohailAbasi) www.khoshfekri.com @khoshfekri
    • What is Crowdfunding, anyway?! • Crowd + Funding • People + $$$ • Pooling money by large group of people via the Internet for a specific targeted project/cause • Wisdom of the Crowd • Revolutionized in 2009 by Kickstarter.com
    • Crowdfunding in Iranian Culture • • Donations to set Non-intentional financial crime prisoners free • • Donation to buy dowry for the bride • • Donations for Renovating Schools, Public baths, mosques,… • • School construction charity organization, annual Conferences
    • Crowdfunding Placement Crowdfunding Crowdsourcing Social Networks Web 2.0 The Internet
    • Why should I care about it? • Making Ideas happen needs Capital • Bad Economy • Low investment risk tolerance • Difficult to get bank loans • Decrease in Gov. funding and/or supports • New “1st Money” for ventures ($10k - $50k average) in other countries • Crowdfunding Campaigns are Viral
    • Why Crowd Fund? • Micro-donations will make hundreds of projects possible, projects that otherwise would have to wait for funding or not be funded at all. • Projects that are limited in scope and time and for which small amounts of money are required, can be made possible • Entrepreneurs will gain more visibility, connect with a wider audience of donors and enhance public knowledge of their work/products
    • Need more reasons? • Funds from donors can speed the process of investigation and lead to faster and better innovations and Economic effects • The general public has an easy and cost-effective way to advance and help ideas / projects that personally appeals to them. • People can be more engaged with innovations, by learning about and funding an Entrepreneur and his/her startup company.
    • How does it work? • Needs a Platform • Money target for the campaign • Campaign length • Compelling story • Video • Rewards • Plan to get people to the campaign
    • USP of Crowdfunding • New source of capital • Social networks • A tribe of angels • Future customers • Proof of concept • Global visibility
    • Forms of Crowdfunding • Debt Crowdfunding o microloans o P2P lending • Donation Crowdfunding o Charity/Causes o All or Nothing Crowdfunding, is Standard Model o Rewards Based (Today’s Model) o Perks and Rewards = Pre-Order/Presumer • Equity Crowdfunding , which is Still Far away
    • Donnation Model: SellaBand
    • Lending Model: KIVA
    • Donation Model: Obama Campaign
    • The Motivation for Crowdfunding • Passion o For the technology o For the industry o For the cause o For the product • Affinity o For the Entrepreneur o For the city, industry, etc. • Connection • Return of Emotions NOT R.O.I.
    • Success Stories • The iPhone-friendly Pebble watch earned $7.6 million more than its $100,000 goal. • And the Galileo iPhone platform closed its Kickstarter campaign at $702,000, far surpassing its $100,000 goal. • Ouya raised $2 million in one day for a new Android gaming console (it’s raised more than $5 million to date), • the Nifty MiniDrive, external memory for Apple MacBooks. The tiny storage company is more than 2,000% above its $11,000 goal with 15 days left in the campaign.
    • Elements of successful campaigns • They already have fan bases • They build from something familiar • They are simple • They are (usually) NOT about the founders • They appeal to a specific interest • They are about emotion • Make the donor: o Feel being part of the cool group o Feel like s/he is important o Feel powerful and Influential
    • Potential Pitfalls • Some worry that only projects with splashy campaigns will be funded • Easier to generate interest in fancy and attractive projects than simple and efficient ones • Lack of Peer Review • Less disruptive innovations to appeal to the general public
    • Two Leaders • Kikstarter • Indigogo
    • Kickstarter • Supports creative projects of all sorts • Over $350 million has been pledged by more than 2.5 million people, funding more than 30,000 creative projects • All-or-nothing funding • Rewards for funders • http://www.kickstarter.com
    • Kickstarter Statistics 2011 • Launched Projects: 27,086 • Successful Projects: 11,836 • Dollars Pledged: $99,344,382 • Rewards Selected: 1,150,461 • Total Visitors: 30,590,342 • Project Success Rate: 46%
    • Indiegogo • Flexible funding • “All about allowing anybody to raise money for any idea” • Offers “perks” for funders • http://www.indigogo.com
    • Resources • Crowdfunding: Transforming Customers into Investoes Through Innovative Service Platforms [Andrea Ordanini, Lucia Miceli, Marta Pizzetti, A. Parasuraman] • A Framework for European Crowdfunding [Kristof De Buysere, Oliver Gajda, Ronald Kleverlaan, Dan Marom] • A Snapshot on Crowdfunding [Joachim Hemer] • Crowdfunding - a report [Adeoluwa Adeniyi] • Crowdfunding in a Canadian Context [Canada Media Fund]
    • Thank You! Presented by Sohail Abbasi (@SohailAbasi) www.khoshfekri.com www.facebook.com/khoshfekri www.twitter.com/khoshfekri