Websites of Interest - Theme: Commerce and Manufacture of the Future (Part 1: Kickstarter.com)

KICKSTARTER.COM

From the FAQ:

What is Kickstarter?

Kickstarter is a new way to fund creative ideas and ambitious endeavors.

We believe that...

• A good idea, communicated well, can spread fast and wide.
• A large group of people can be a tremendous source of money and encouragement.

Kickstarter is powered by a unique all-or-nothing funding method where projects must be fully-funded or no money changes hands.
Top ↑
All-or-nothing funding?

Every Kickstarter project must be fully funded before its time expires or no money changes hands.

Why?

1. It's less risk for everyone. If you need $5,000, it's tough having $2,000 and a bunch of people expecting you to complete a $5,000 project.

2. It allows people to test concepts (or conditionally sell stuff) without risk. If you don't receive the support you want, you're not compelled to follow through. This is huge!

3. It motivates. If people want to see a project come to life, they're going to spread the word.

Top ↑
Why do people support projects?

REWARDS! Project creators inspire people to open their wallets by offering smart, fun, and tangible rewards (products, benefits, and experiences).

STORIES! Kickstarter projects are efforts by real people to do something they love, something fun, or at least something of note. These stories unfold through blog posts, pics, and videos as people bring their ideas to life. Take a peek around the site and see what we're talking about. Stories abound.
Top ↑
So this isn't about investing?

Nope. Project creators keep 100% ownership.

How does funding work?

Every project has a funding goal (any dollar amount) and a time limit (from 1 - 90 days) set by the project creator. When the deadline is reached, there are either of two results:

1. Funding Successful: If a project has met or surpassed its funding goal, all backers' credit cards are instantly charged and funds go directly to the project creator. Project creators are then responsible for completing the project and delivering rewards as promised.

2. Funding Unsuccessful: If a project has NOT met its funding goal, all pledges are canceled. That's it.