Crowdfunding Platforms for Innovative Start-ups and Ideas
Got some extra funds lying around and are looking for somewhere to invest your money? Or maybe you are on the other side of the spectrum. Do you have a great business idea formulated, but are lacking the capital to kickstart your business venture? If you can associate yourself with either of the two personas, then you may want to consider these crowdfunding platforms to fund your projects or to support other rising entrepreneurs:
Established in April 2009 with the mission to “help bring creative projects to life,” Kickstarter has grown to become a popular crowdfunding platform. To date, there has been over 160,000 projects successfully funded and more than USD4 billion pledged to Kickstarter projects. It doesn’t matter if you don’t have a large fanbase yet, small-scale businesses and all creators are welcome to create their own Kickstarter projects and projects can range across arts or design and technology all the way to games or music or even food and craft. The possibilities are endless here.
How it works is that a creative creates a project in any of the suited categories and sets a funding goal and a target date. From there, people all over the world can back up the project by pledging a certain amount. The public will have an open view on how much has been pledged and how many days are remaining for a project to be completed and Kickstarter basically operates on an all-or-nothing model. This means that the project will be considered as successfully backed if the target amount is raised within the specified timeframe. Otherwise, there will be no funding. In that sense, backers have an incentive to pledge more if they want to help a creative reach their funding goal.
Designed to make ideas come to life, Indiegogo was founded in 2008 and has now successfully funded over 800,000 innovative ideas. Today, the platform has more than 10 million monthly visitors and are supported by users from across 235 countries. If you have or are looking for clever and unconventional things that are still not available in the market, Indiegogo is the platform to visit! Ideas here are very innovative – far from mainstream and with this platform, people can be as creative in devising solutions for our everyday problems. Moreover, if you have some extra funds, you can support entrepreneurs in the earliest stages of their development.
At crowdfunding platforms like Indiegogo, you can start a campaign to acquire starter capital and to validate your idea with the millions of users signing in. An advantage of using this platform is that there is no fundraising target, so campaigners get to keep whatever funds they were able to raise. There is also no deadline limits and campaigners can continue to raise money even after the crowdfunding campaign is over.
Inspired to improve the income and productivity of farmers, Cropital is a social enterprise operating with the vision of providing farmers access to scalable and sustainable financing. Commencing operations in 2015, it is now a globally recognized organization whose advocacy is not just supported here in the Philippines but by institutions in the United States, Netherlands, and Malaysia as well.
With Cropital, potential investors get to choose which farm they want to invest in. Once a farm is successfully funded, the farmers will be provided the resources they need to commence farming. To ensure that funds and resources will be properly utilized, Cropital has a team dedicated to managing the funds with the intention of maximizing the returns on investments for both the funders and the farmers. Finally, after harvests are sold and monetized, a net profit-sharing scheme is in place. Historical records suggest that funders can expect a return ranging from 3% to 30% in less than 6 months’ time.
Managed and operated by Matapat na Pagtutulungan Multipurpose Cooperative, Upbuilds is a crowdfunding platform that aims to raise capital for Filipino asset-based business projects. Their vision is to create a global community of investors that will have solid investments which can generate income rather than leaving the money in the bank where returns are limited.
What sets Upbuilds apart from other crowdfunding platforms is that their projects focus on solid investment types. With Upbuilds, campaigners raised funds by registering, creating a project, setting an amount and deadline and sharing more information about the project. Meanwhile, investors put in capital and these funds are used for project or business development. After development, promised returns are issued as passive income. The advantage of being an Upbuild investor is that projected returns are high and that you get to accumulate wealth passively and diversify your income sources. There is also no membership or any ongoing fees.
The Spark Project is an online crowdfunding platform that aims to showcase the Filipino talents. The team believes that Filipinos have a lot of creative and innovative projects and with financial support, these initiatives can be fueled and turned into actual projects. The idea is to link angel investors, venture capitalists, grant giving bodies, and other financing parties to this passionate pool of Filipino talents.
To date, over Php5.8 million has been raised, with nearly 3000 backers supporting over 60 projects. To start a project, you can simply head over to their website and place in your project title, how much you need, and the project type. Afterwards, share some details as to what you aim to achieve and the steps you envision to get there. Meanwhile, backers can get in touch with the creators personally and rewards may vary depending on what is set in the campaign.