While entrepreneurs used to seek funding from VCs or angel investors, many are now turning to crowd sourcing for funding and proof of concept.
Crowd sourcing is a kind of online marketplace for entrepreneurs, giving them a place to show off their product, project or concept and allows the public to fund their new idea. Several crowd-sourcing sites have gained traction in recent years such as Indiegogo, Rockethub, and Fundrazr, but according to Forbes, the number one spot is in the hands of Kickstarter.
Kickstarter has a rigorous application process to have your idea featured, or even accepted. Video games, new products, and even feature films have tasted the effects of Kickstarter. According to Mashable, the Veronica Mars feature film raised 5.7 million dollars thanks to over 90,000 fans who wanted the film to become a reality, which will come true on March 14th, 2014.
From movies virtual reality headsets, Kickstarters seem to be growing in popularity from everyday people eager to be early adopters. As an entrepreneur you have the opportunity to let the public tell you whether or not your idea is a winner rather than a single investor.
Here at PMBC Group, a Los Angeles based Corporate PR firm, we are always watching closely to see how professionals and startups are making strides in today’s competitive landscape.
Would you use Kickstarter?
PMBC Group is a mulit-level PR firm based in Los Angeles, specializing in Corporate PR and Tech PR. Visit us at http://www.pmbcgroup.com