Levée de fonds
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Crowdfunding your startup through sites like Kickstarter and IndieGoGO has become an interesting, and in many cases, quite viable way of financing your project. A number of individuals and companies have been able to raise pretty substantial amounts of money through these services, going well beyond what they initially set as their funding targets. Most notably of late, was the success of Lunatik/TikTok iPod Nano wristwatch, which set the record for the most money raised via Kickstarter to-date: almost $950,000 from over 13,000 backers. Not too shabby considering Scott Wilson and his MINIMAL design studio set out to raise a mere $15,000 in order to get licensing and manufacturing for the project under way.
(This article is part of a series by our resident SocialTimes entrepreneur, Ellie Cachette. Cachette is the founder of ConsumerBell and also writes on topics covering Consumer Web. For more articles by Ellie, click here )