The world of crowdfunding has been something to be amazed at, especially if looked at from a broad perspective. And it is because of crowdfunding that we have some of the most outstanding inventions ever seen, from the personal UAV, to the GoPro. Thanks to it, talented people with a desire to make something truly amazing can actually go and create it without the stress of not having the necessary funds to do so.
For those who don’t know, crowdfunding is a new phenomenon going on today. To explain it better, lets make a scenario:
We have Joe. Joe is a drafter and likes robotics and wants to make a personal UAV for when he goes hunting. He goes to a crowdfunding website, for example Indiegogo , sets up an account, makes his campaign, and after he’s all done shares it with friends. In two months, people on Indiegogo would have donated to him enough money to start making them. In about two more months he starts making them full time, and makes a business off of this and thus a company is born.
In short, if you have an idea you would like to make a reality, whether it’s a book, movie, program, or whatever you would like, you go to a crowfunding website, sign up, make your campaign, and launch it. Then, if other people think your idea is worth investing into, they’ll donate. Once you reach enough donations, you get to start your idea!
This has started many companies and has potentially filled the startup gap we saw in the recession. This has given way to never before thought of projects and businesses. Crowdfunding has also had couple records. Most recently, Canonical Ltd, the company behind the Linux based operating system Ubuntu broke the world record for total funds raised on crowdfunding with $12,000,000 Raised for their Ubuntu powered phone which was dubbed potentially the most powerful produced, if it was produced, but the campaign fell short twenty million.
It is records like these that show the true power of crowfunding. It can either make or break a product that could otherwise not be funded by normal means. If it wasn’t for crowfunding, we wouldn’t have some of the most astonishing inventions, books, and many many more.