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Crowdfunding for mobile

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Crowdfunding for mobile

  1. 1. An Overview of Crowdfunding for mobile Wavefront - Grow your wireless business conference by Heri Rakotomalala @seedingfactory mercredi 11 décembre 13
  2. 2. StartupStache is a initiative started by the startup community to help bring awareness to prostate cancer. With iNovia Capital, unlok.me, Trendr, Real Ventures, FF, etc. Link : startupstache.com @seedingfactory mercredi 11 décembre 13
  3. 3. Heri Rakotomalala heri@seedingfactory.com Twitter: @heri Bruno Rakotozafy bruno@seedingfactory.com Twitter: @brurakoto @seedingfactory mercredi 11 décembre 13
  4. 4. @seedingfactory mercredi 11 décembre 13
  5. 5. Summary • • • • Definition crowdfunding Crowdfunding numbers More than just funding : crowdfunding benefits Crowdfunding for mobile @seedingfactory mercredi 11 décembre 13
  6. 6. crowd·fund·ing kroudˌfəәndiNG/ noun ˈ the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet. @seedingfactory mercredi 11 décembre 13
  7. 7. @seedingfactory mercredi 11 décembre 13
  8. 8. Crowdfunding the Statue of Liberty pedestal mercredi 11 décembre 13 Joseph Pullitzer @seedingfactory
  9. 9. @seedingfactory mercredi 11 décembre 13
  10. 10. Did you know? • • • • • 44% success rate on Kickstarter • $5.1 billions in 2013 ; 81% year over year increase 56% of contributions come from Facebook 11,498 successfully funded music projects Average: $5000 raised 18 video games projects raised more than $1million on Kickstarter @seedingfactory mercredi 11 décembre 13
  11. 11. Montréal, Canada • • • Indiegogo & Kickstarter expanded to Canada • Others in Montreal mobile tech 2013: Hexoskin, Snoobe, Fabule etc. Equity crowdfunding is NOT legal in Canada Montreal: Neptune Pine raising > $450k for their Android smartwatch @seedingfactory mercredi 11 décembre 13
  12. 12. Benefits of crowdfunding 1. Funding 2. Proof of concept 3. Collaboratiojn 4. Marketing 5. PR @seedingfactory mercredi 11 décembre 13
  13. 13. 2 - Proof of Concept mercredi 11 décembre 13
  14. 14. • Check if your assumptions were correct. • First step to convince more partners later on. • Assessing the audience size and popularity @seedingfactory mercredi 11 décembre 13
  15. 15. Pressy - the Android Button @seedingfactory mercredi 11 décembre 13
  16. 16. ➡ Take away : Not sure about an idea? Use crowdfunding to validate it @seedingfactory mercredi 11 décembre 13
  17. 17. 3 - Collaboration mercredi 11 décembre 13
  18. 18. • Find fans, ambassadors, partners looking to work with you and work on valuable connexions. • Let you adapt the product/service/concept in real time. • Get early feedback @seedingfactory mercredi 11 décembre 13
  19. 19. Snoobe : iOS version @seedingfactory mercredi 11 décembre 13
  20. 20. ➡ Take away : Use crowdfunding to get valuable feedback and guide your product design @seedingfactory mercredi 11 décembre 13
  21. 21. 4 - Marketing mercredi 11 décembre 13
  22. 22. • Every contributor becomes an evangelist • Good to build a community around your project. • You’ll gain highly valuable knowledge about how to market your product/service/project @seedingfactory mercredi 11 décembre 13
  23. 23. Vandal Games From 300k to 500k players in 1 month Biggest and most efficient market acquisition technique for the video game studio mercredi 11 décembre 13
  24. 24. ➡ Take away : use crowdfunding to market your product @seedingfactory mercredi 11 décembre 13
  25. 25. 5 - PR mercredi 11 décembre 13
  26. 26. • Replace a product/project launch • The innovative and dramatic aspect of crowdfunding will help you get more press coverage • Social networks help multiply the outreach @seedingfactory mercredi 11 décembre 13
  27. 27. @seedingfactory mercredi 11 décembre 13
  28. 28. @seedingfactory mercredi 11 décembre 13
  29. 29. ➡ Take away : use crowdfunding to get bloggers & journalists write and buzz about what you do @seedingfactory mercredi 11 décembre 13
  30. 30. 1 - Funding 2 - Proof of concept 3 - Collaboration 4 - Marketing 5 - PR @seedingfactory mercredi 11 décembre 13
  31. 31. Applying it to mobile mercredi 11 décembre 13
  32. 32. A few criterias of success • A compelling, unique, creative concept with emotional impact, with a price • Backers motivation : acknowledgment, a tangible product, or an experience • Multipliers : a video (+120%), a solid community base (546 followers), a well-crafted promotion campaign (min 100 pitched bloggers and journalists) • Kickstarter (44% success rate) vs Indiegogo and others (only 9%) @seedingfactory mercredi 11 décembre 13
  33. 33. Challenges • Most mobile apps are free : impossible to crowdfund • Important : Mobile hardware is easy to crowdfund • Kickstarter’s editorial team blocks social network, ecommerce and pure software projects • • There’s little to no emotional stories in mobile Find a way to appeal to the KS community! @seedingfactory mercredi 11 décembre 13
  34. 34. • In 2013, we’ve reached a point where with a simple app, you can get fans throughout the world, fund your idea, get support, simply through online channels.You don’t have to own a newspaper anymore. • • Passion, story-telling and authenticity are key Crowdfunding is hard and time-intensive. Benefits outweigh challenges though. Make it work for you! @seedingfactory mercredi 11 décembre 13
  35. 35. Heri Rakotomalala heri@seedingfactory.com Twitter: @heri Bruno Rakotozafy bruno@seedingfactory.com Twitter: @brurakoto @seedingfactory mercredi 11 décembre 13

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