Business Strategy term project for starting a new business.
This project was based on providing a crowd funding platform targeting students who have brilliant ideas but limited funds to turn them into reality
6. A wealth of entrepreneurial talent
Students
Students have lots of great ideas
Need to cultivate those ideas into the next Google
or Facebook
Often stifled by access to Money
8. Current Funding Environment
↘ Complete funding is hard to find now
↘ Banks loans are extremely difficult to obtain
↘ Many venture capitalist not funding
↘ Angel investors are very conservative
9. Current Funding Environment
↘ What if there was a way to have say 5000 angels each investing $10?
↘ What if anyone could become a business angel?
↘ What if there was a system to focus on students only?
11. Crowdfunding Platform for Students
KickStand
KickStand provides a web-based central hub for students to meet micro-investors. It uses the power of crowdfunding to
provide a unique service to two types of people:
for students to source funding more accessibly than conventional routes
for smaller investors to have the opportunity to invest in exciting high-potential businesses
13. Crowdfunding is a method for obtaining project funding, by soliciting
contributions from a large group of people, and especially from an
online community.
Early crowdfunding efforts can even date back to the 18th century
when writers and musicians gathered money from many investors to
publish large pieces of work.
Crowdfunding
14. Existing Crowdfunding Platforms
One of the earliest crowdfunding platforms was launched
in 2008 after its co-founder could not find a meaningful
way to help families affected by Hurricane Katrina.
Motto: “We’re here to help if you’re looking for a way to
raise funds for friends or loved ones in need.”
GiveForward
15. Existing Crowdfunding Platforms
Another early crowdfunding platform that has generated
huge success is KICKSTARTER.
KICKSTARTER specializes in creative projects such as films,
games, art and technology.
Kickstarter
16. Other Crowdfunding Platforms
↘ Crowdfunder (specializes in business and tech start-ups)
↘ Crowdrise (funds charities & causes)
↘ Quirky (funds for inventors)
↘ Invested.in (to create your own funding community)
↘ Indiegogo (focuses on creative projects)
17. It gives proof of concept to investors & introduces prospective loyal customers.
It’s free PR providing the opportunity of pre-selling.
Why does it work?
Small donations from many people can raise a lot
of money
By tapping into your online social connections,
you can reach a much broader audience
Crowdfunding sites takes less time than traditional
fundraising processes
22. Competitive Offerings
Benefits: No Fees
Charges: Between 2.5% &
3.5% for payment gateways,
PayPal and Stripe
Hubbub
Crowdfunding to the education and non-profit sectors,
offering universities, charities, non-profits, colleges, schools,
and their students and staff an accessible, alternative
method to obtain social funding for their ideas and projects.
23. Competitive Offerings
An online community where
students compete for
scholarships and discover
exciting career possibilities.
Benefits: Focused on building
connections.
Equals6
25. KickStand Pricing Strategy
It's less risk for everyone. If you need
$5,000, it's tough having $1,000 and a
bunch of people expecting you to
complete a $5,000 project
It motivates. If people want to see a
project come to life, they're going to
spread the word
All-or-Nothing Funding
All-or-nothing funding is a core part of
KickStand Fees.
If a project is successfully funded,
KickStand applies a 5% fee to the funds
collected.
For all projects, pledges will be
processed by PayPal Payment System.
Fees
Crowdsourcing or Crowdfunding?
Crowdfunding falls under the Crowdsourcing umbrella, but not all crowdsourcing services are looking for donations or investments. Some crowdsourcing sites collect innovative ideas or work on problem solving questions.