Empowering Innovation: Funding Creative Projects on Kickstarter

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Kickstarter – A Global Hub for Funding Creative Ventures

Since its launch on April 28, 2009, Kickstarter has revolutionized the landscape for financing creative projects across diverse fields like film, games, music, art, design, and technology. This groundbreaking crowdfunding platform has successfully funded over 50,000 unique projects, raising an astonishing $900 million from a vibrant community of 5 million backers worldwide.

Thousands of initiatives have found their footing on Kickstarter. Each project is independently conceived and managed by an individual creator, who retains full control and responsibility for their vision. Project initiators diligently craft compelling web pages, produce engaging videos, and strategize the best ways to present their ideas, aiming to captivate and convince potential backers. Once their campaign is perfected, they launch it and share it with their communities, inviting broad support.

How Kickstarter Works: The Power of Community Funding

Every project creator sets a specific funding goal and a deadline for their campaign. If someone is drawn to a particular project, they can pledge financial support or contribute in other meaningful ways. The core principle is “all or nothing”: if the project successfully reaches its funding target by the deadline, all pledged funds are collected and disbursed to the creator. However, if the project falls short of its goal, no money is collected from any backer, significantly reducing risk for all involved. This system encourages backers to actively promote projects they support, often sharing them with friends on social media or elsewhere, to help ensure success.

To date, an impressive 44% of projects launched on Kickstarter have successfully met their financial goals.

Who is Kickstarter Designed For? Embracing Creativity Across Disciplines

Kickstarter is specifically tailored for creative projects spanning a wide spectrum of artistic and innovative fields, including art, comics, design, fashion, film, food, games, music, photography, publishing, theater, and technology.

A project seeking funding on Kickstarter must have a clear, tangible objective, such as recording an album, writing a book, creating a unique piece of art, or developing a novel technological product. It’s a space where creators of all kinds can thrive. Whether modest or ambitious, presenting fresh concepts or enhancing existing ones, every project here is unique – something that someone, somewhere in the world, truly wishes existed.

Project Backers – Why People Invest and Support?

Individuals who back projects on Kickstarter are, at their core, enthusiasts, supporters, or friends of the creators or the idea itself. If they resonate with a project, they often become its biggest advocates, recommending it to their friends and acquaintances through blogs, social media, or personal conversations.

Many backers share the innovative ideas launched by their friends. Some simply wish to support someone’s vision, find themselves inspired by it, or want to reward a creator’s dedicated effort. Others are strongly motivated by the rewards they receive once the project comes to fruition – this could be the finished product itself, a limited edition item, or a unique experience related to the project’s development.

Supporting a project on Kickstarter goes beyond merely investing funds; it’s about providing any kind of assistance with the ultimate goal of seeing that project “come to life.” Backers gain insight into the project’s progress and development, often having the opportunity to contribute to its realization. They also receive various rewards from the creators, depending on the project type, such as copies of finished products (books, CDs/DVDs), unique merchandise, or other benefits tied to the project’s journey.

Commissions: Understanding the Financials

If a project is successfully funded, Kickstarter levies a 5% commission on the total funds raised. For projects originating from the USA, payments are processed via Amazon Payments. For international projects, other payment methods are used, which may incur an additional commission of 3% to 5%. Detailed information on all commissions is available on their website.

Crucially, project creators retain 100% ownership of their projects and their creative work.

Who is Behind Kickstarter?

Kickstarter, a team of 70 dedicated individuals, is based in Brooklyn, USA. Their responsibilities include maintaining the website, responding to inquiries from both backers and creators, and actively promoting projects. Kickstarter frequently seeks new talent, so potential applicants are encouraged to check their careers page for open positions.

Who is Responsible for Project Execution?

Project creators bear full responsibility for the execution of their projects. Kickstarter itself is not involved in the actual development or fulfillment of projects, and it does not guarantee the creators’ ability to complete their endeavors. Ultimately, it is the backers who decide on the validity of a project and whether to fund it.

Project launches are public, and creators are often initially supported by their personal networks. Failing to fulfill promised obligations risks damaging their reputation significantly. Backers are provided with detailed project plans: how a project will be executed, and the creator’s past achievements. To gain the trust of potential backers, creators must offer as much information as possible about themselves and their projects, ensuring backers are well-informed to make a positive decision to support.

If a project creator lacks experience in the area of their proposed project or fails to provide sufficient information, they might struggle to attract potential backers. Relevant websites related to the project or previous works by the creator can be invaluable. Backers are more likely to be convinced of a project’s credibility if the creator provides a compelling video, links to their social media (like Facebook) showcasing public support and past efforts, or concrete results from previous work. Communication is key, so creators should also provide clear contact links for backers to reach out.

Can You Be Deceived by Project Creators? Ensuring Trust and Transparency

Backers must ensure the individuals behind a project are legitimate. This verification often comes from reliable sources. They will likely review the project creator’s provided data, as well as information about the individuals or project found on Facebook and other external websites.

What if Project Creators Encounter Problems During Execution?

Should problems arise, project creators are expected to transparently inform their backers about the project’s status. This notification is typically sent via email, explaining the situation in detail. Many backers support a project because they genuinely want to see it succeed or be a part of its journey. Sometimes, project development can simply take longer than the creator initially anticipated.

If a project creator is making their best effort to complete the project and transparently communicates their steps, backers will generally understand any potential issues and remain patient, while still expecting project completion. If a problem is insurmountable for the creator, they are obligated to find a resolution, which might include issuing refunds, providing detailed reports on spent funds, or taking other actions to satisfy their backers.

Is the Project Creator Legally Obligated to Fulfill Their Commitments?

Kickstarter’s terms and conditions explicitly require project creators to fulfill all their obligations, whether that means delivering promised rewards to backers or providing refunds if they cannot meet their commitments. Kickstarter itself is not obligated to refund backers in cases where project terms are not met.

Project creators receive all pledged funds once their campaigns successfully conclude. In case of problems requiring refunds, creators facilitate these through Amazon Payments for US backers and via Kickstarter for international backers.

Kickstarter represents a new paradigm for connecting project creators and their supporters. Traditional investment often carries significant risks and is primarily focused on financial profit. Kickstarter, however, opens the door to a much wider array of ideas and allows anyone to contribute to bringing something new into the world. It is a powerful platform for innovation, ambition, and imagination. Most projects on Kickstarter are in their early stages of development, and their success often hinges on the understanding and support of the community to see the light of day.

How to Start a Project on Kickstarter?

Anyone can initiate a project on Kickstarter, provided they meet certain Kickstarter requirements, which can be found on their official website. It is highly recommended to thoroughly read the Kickstarter Guidelines or seek more information in the Kickstarter School section. You can also save an unfinished project to make later edits and additions.

Kickstarter in Numbers: A Snapshot of Success

Since its launch on April 28, 2009, this platform has facilitated the funding of over 50,000 projects, raising an impressive $900 million from 5 million individuals. For detailed project and funding statistics, you can explore their comprehensive data.

How to Discover Interesting Projects?

To find intriguing projects on Kickstarter, you can connect your Facebook profile to the platform, allowing you to follow projects launched or supported by your friends. Kickstarter also offers a weekly newsletter, sending out three handpicked projects. On Kickstarter’s pages, you can also view featured projects selected by the Kickstarter team, as well as the most-viewed – most popular projects categorized across 13 distinct categories. Frequently, Kickstarter projects also gain visibility in news outlets and on various social media platforms.