Major crowdfunding platforms Kickstarter and IndieGoGo have both smashed their previous funding records for individual projects.
The new Pebble smartwatch has raised almost $18m with a couple of weeks still to go. It smashed the old Kickstarter record of $13.29 million held by Coolest Cooler, the cooler that featured an ice-blender, Bluetooth speakers and a USB charger. Pebble's initial campaign for the first version of its smartwatch back in 2012 is in third-place with $10.26 million.
Over on IndieGoGo, Flow Hive raced past their original goal of $70,000 to raise $5.7m with a few weeks left in the campaign. The Flow Hive is a revolutionary beehive invention, allowing you to harvest honey without opening the hive and with minimal disturbance to the bees. Their campaign describes it as "the most significant innovation in beekeeping since 1852"
The previous IndieGoGo record-holder was the $5m raised by Hour of Code, an initiative to expand the teaching of computer coding in schools and backed by big-names including Bill Gates and Mark Zuckerberg.
While there's genuine innovation in the projects from Pebble and Flow and real needs-based social entreprenuership in Hour of Code, some recent crowdfunding hits just make you smile.
Exploding Kittens, the card game from the founder of The Oatmeal, amassed $8.7m from an original goal of just $10,000. It just goes to show what having a platform and making the most of momentum can do for you:
There seems no doubt about it, reward-based crowdfunding is only going to get bigger. For those of you sharing your story and building a platform, it's become a serious funding model to consider.
Of course here at Technoport we're big fans of equity crowdfunding. Unlike reward-based crowdfunding where you receive a product (typically) in exchange for your money, equity-based crowdfunding gives you real shares in the company.
It's a much more serious level of committment from both company and backer, so it's harder to gain the same momentum as with reward-based campaigns. But if your product or service solves a real problem, you could find investors prepared to back your solution.
If you want to find out more about the two types of crowdfunding, be sure to attend Technoport 2015 on 18 & 19 March.
Reward-based crowdfunding - You'll hear from Angela Lamont, British TV star and now a Director of the groundbreaking Lunar Mission One space exploration project. She will explain how innovative research projects can be crowdfunded and the unexpected benefits of doing so.
Equity-based crowdfunding - Rather than just talk about equity crowdfunding, you get to take part too. Last year four startups raised NOK 700,000 at Norway’s first ever live equity crowdfunding event. This year, Technoport is doing it all again with four more startups raring to go in the Live Crowdfunding Experience on the evening of 18 March. You can listen to their pitches and then buy real shares in the companies you think have the best chance of success.
Technoport 2015 attendees get free entry to the Live Crowdfunding Experience, but even if you don't have a conference ticket you have the chance to attend the crowdfunding event free of charge. Click here to register for one of the free tickets - but be quick!
Photo credit: Butz.2013