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Reward based Crowdfunding

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Faysal Ahmed
Faysal Ahmed

This document discusses reward-based crowdfunding. It defines crowdfunding as raising funds from a large number of people typically over the internet. It notes that crowdfunding can fund non-profits, political, charitable or commercial initiatives. Examples given are Kickstarter and Indiegogo. It describes how crowdfunding works, involving project creators, backers who pledge money, and a platform to connect them. It provides statistics on successful Kickstarter projects and notes gamers are early adopters of crowdfunding. Reward-based crowdfunding is described as offering rewards to backers depending on pledge amount. Successful projects deliver rewards to backers in following months. Examples given are Star Citizen

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Faysal Ahmed Co-Founder, Team 71 Software Engineer, TigerIT Limited Reward based crowdfunding
Crowd Funding finance from backer "crowd fund an initiative and usually occurs on Internet platforms could be a nonprofit, political, charitable, commercial Financial campaign for a startup company Example: kickstarter and indiegogo
people or organizations that propose the ideas and/or projects to be funded, the crowd of people who support the proposals Crowdfunding is then supported by an organization (the "platform") which brings together the project initiator and the crowd
Gamers as crowdfunders Gamers are tech savvy and have been early adopters of crowdfunding platforms, using them to fund ideas for new games and peripherals Crowdfunders of gaming don't expect a return on their money are glad to help promote programmers working on cool projects.
Type of crowdfunding Reward based Equity based Donation based Credit based
Reward based crowdfunding a source of funding for small businesses. looking for funding up on a crowdfunding portal, targeting a certain amount capital to raise. gives some type of incentive for participating
by the end of 2013: People pledged $928 million to projects on Kickstarter 54,233 projects have been funded successfully 5.4 million people have backed projects 1.58 million people have backed more than 1 project 12.8 million total pledges have been made Consulting firm, Deloitte estimated over $700 million would trade hands on rewards-based crowdfunding platforms.
How rewards-based crowdfunding works Business or entrepreneur posts a project available for funding up on a crowdfunding platform with a set deadline special promotional videos are produced to help get backers interested in the project. In return for backing a project, backers receive different rewards depending on the amount of funding they commit (defined by the business or entrepreneur behind the project)
Business and other supporters of the projects share the project with friends and family Interested backers donate during the project, sharing their activities over social networks If funding targets are hit before the project's deadline, the deal "tilts" and monies are exchanged, rewards are committed Typically, within the months following a successful project funding, backers receive their rewards (though research shows many of the rewards are late in their delivery)
Examples of crowdfunding projects Star Citizen, $35 million (video game) Ubuntu Edge, $19 million (smart phone) Pebble (watch)

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Reward based Crowdfunding

  • 1. Faysal Ahmed Co-Founder, Team 71 Software Engineer, TigerIT Limited Reward based crowdfunding
  • 2. Crowd Funding finance from backer "crowd fund an initiative and usually occurs on Internet platforms could be a nonprofit, political, charitable, commercial Financial campaign for a startup company Example: kickstarter and indiegogo
  • 3. people or organizations that propose the ideas and/or projects to be funded, the crowd of people who support the proposals Crowdfunding is then supported by an organization (the "platform") which brings together the project initiator and the crowd
  • 4. Gamers as crowdfunders Gamers are tech savvy and have been early adopters of crowdfunding platforms, using them to fund ideas for new games and peripherals Crowdfunders of gaming don't expect a return on their money are glad to help promote programmers working on cool projects.
  • 5. Type of crowdfunding Reward based Equity based Donation based Credit based
  • 6. Reward based crowdfunding a source of funding for small businesses. looking for funding up on a crowdfunding portal, targeting a certain amount capital to raise. gives some type of incentive for participating
  • 7. by the end of 2013: People pledged $928 million to projects on Kickstarter 54,233 projects have been funded successfully 5.4 million people have backed projects 1.58 million people have backed more than 1 project 12.8 million total pledges have been made Consulting firm, Deloitte estimated over $700 million would trade hands on rewards-based crowdfunding platforms.
  • 8. How rewards-based crowdfunding works Business or entrepreneur posts a project available for funding up on a crowdfunding platform with a set deadline special promotional videos are produced to help get backers interested in the project. In return for backing a project, backers receive different rewards depending on the amount of funding they commit (defined by the business or entrepreneur behind the project)
  • 9. Business and other supporters of the projects share the project with friends and family Interested backers donate during the project, sharing their activities over social networks If funding targets are hit before the project's deadline, the deal "tilts" and monies are exchanged, rewards are committed Typically, within the months following a successful project funding, backers receive their rewards (though research shows many of the rewards are late in their delivery)
  • 10. Examples of crowdfunding projects Star Citizen, $35 million (video game) Ubuntu Edge, $19 million (smart phone) Pebble (watch)