‘//’  The

NEW Medium

|How people are changing the way projects are funded

By Matthew Eng Image  by  Rocio  Lara  (flickr)  

crowd·fund·ing ˈkroudˌfəndiNG Noun the practice of funding a project or venture by raising many small amounts of money from a large number of people

Image  by  Simon  Cunningham  (flickr)  

Image  by  Mar=n  Hajek  (flickr)  

The Pebble Smartwatch, by Pebble Technologies, was given

$10,266,845 in donations, exceeding their goal by 10,266% (source: Kickstarter)

The Veronica Mars Movie, based on a TV show, garnered $5702,153 in donations, exceeding their goal by 285% (source: Kickstarter)

Image  by  Joits  (flickr)  

Crowdfunding initiatives have eliminated

the need of traditional investors to fund

projects…

Image  by  Colbrain  (flickr)  

… giving the creator full creativity over the project.

Image  by  Linus  Bohman  (flickr)  

“Creativity requires the courage to let go of certainties.”

- Erich Fromm

People who believe in the vision will aid financially to the development of the final product. You better make them

happy though!

Image  by  Rick  Turoczy  (flickr)  

Crowdfunding will become the

most widely used platform for

major & minor project funding

within the next 5 years.

Image  by  Brian  Cypher  (flickr)  

How are creators responding to this trend?

Image  by  Alex  Barth  (flickr)  

So far…

1,000,000+ successful campaigns were made in 2012, 81% higher than 2011

Image  by  Steve  Wilhelm  (flickr)  

$5.1 billion in funds were raised worldwide for crowd-funded projects in 2013.

Image  by  Sandor  Weisz  (flickr)  

Image  by  Eric  Fischer  (flickr)  

How big of a scale should I set for my project? Image  by  Jon  Lee  Clark  (flickr)  

The average successful campaign is approximately $7000 and lasts 9 weeks. However…

Image  by  Jason  Hargrove  (flickr)  

Image  by  Bill  AbboO  (flickr)  

What type of project should I

choose?

Image  by  Brian  Hillegas  (flickr)  

The most popular type of project is a social cause (30%). Others include entrepreneurship (16.9%), film/art (11.9%), music (7.5%), and environment (5.9%). However…  

Image  by  Kathryn  Harper  (flickr)  

Start something you enjoy! Your passion with spread towards others and will create interest in your project.

Image  by  Rex  Hammock  (flickr)  

A successful campaign requires grassroots marketing and peer-to-peer

communication (it’s attractive to millenials).

Image  by  Ed  Yourdan  (flickr)  

Most likely generation to donate to nonprofits and projects

Image  by  @Doug88888  (flickr)  

Millions of startups have been brought to life through crowdfunding

platforms, and it will only increase going forward.

Will you be a part of the revolution?

Sources: Anderson,  T.  (n.d.).  Kicking  Ass  &  Taking  Dona=ons:  9  Tips  on  Funding  Your  Kickstarter  Project.  99U.    

 Retrieved  May  23,  2014,  from  hOp://99u.com/ar=cles/7143/kicking-­‐ass-­‐taking-­‐dona=ons-­‐9-­‐  =ps-­‐on-­‐funding-­‐your-­‐kickstarter-­‐project  

 Burma,  D.  (n.d.).  Crowdfunding  Trends  and  Sta=s=cs  Infographic.  CrowdMapped.  Retrieved  May  23,  

 2014,  from  hOp://www.crowdmapped.com/crowdfunding-­‐trends-­‐and-­‐sta=s=cs/    Grant,  R.  (2013,  April  24).  Crowdfunding  vs.  seed  funding:  All  money  is  not  created  equal.  

 VentureBeat.  Retrieved  May  23,  2014,  from  hOp://venturebeat.com/2013/06/24/  crowdfunding-­‐vs-­‐seed-­‐funding-­‐all-­‐money-­‐is-­‐not-­‐created-­‐equal/  

 Why  Millennials  Are  the  Ideal  Target  Market  for  Crowdfunding.  (n.d.).  www.crowdsourcing.org.  

 Retrieved  May  23,  2014,  from  hOp://www.crowdsourcing.org/editorial/why-­‐millennials-­‐are-­‐  the-­‐ideal-­‐target-­‐market-­‐for-­‐crowdfunding/31988  

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