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What Is
• $$$ raised in smaller amounts
• Numerous people to invest/contribute
• Online
• May or may not be accountable to
investors
• For Profit or Non-Profit
• Crowdsourcing the same
Donation Based
• Raise $$$ - Donations
• Offer awards
• Donors receive little in return or nothing
• Typically <$25,000
Product Based
• Development of Product
• Offer awards/product
• Donors goal: receive product or help in
development
Patents
• America Invents Act
• Major Change - First to Invent to First to
File System
– Date of application versus date of invention
– Provisional Patent - Good Idea
JOBS Act
• Jump Start Our Businesses (2012)
• Regulated by SEC
• SEC slow to implement
• www.sec.gov
JOBS Act - Proposed
• Raise up to $1 million/year from anyone
without having to do public offering
• Ordinary Investors can put up to
$10,000 to SB that are not registered
with SEC.
Virginia Proposed
• House Bill 1360
• Senate Bill 763
• $2 million maximum
• $10,000/single investor
– Non accredited investor
– Accredited investor – larger $$$$$$
Peer to Peer
• Roots international – village
• Loan – 0% interest
• Pay back to peers to reinvest
• $500 - $5000
• www.kivazip.org
Service Based
• Bartering
• www.greenapplebarter.com
• Low cost (i.e. logo, web design, etc.)
• www.fiverr.com
For Profit
• www.kickstarter.com
• www.indiegogo.com
• www.rockethub.com
Non-Profit
• www.crowdrise.com
• www.fundly.com
• www.startsomegood.com
Are You Ready
• Its more than an Adventure; It’s a Job!
• Idea Shown the $$$ Will Flow-WRONG!
• Fees - YES
• Possible Penalties
Are You Ready
• Must be 18 years old
• Check to see requirements on U.S.
Resident
• Major Credit Card or Debit Card
• May have to establish Amazon Payment
Account
Are You Ready
• Research is the KEY
• Review past CF site projects
• CF Website will determine Yes or No to
your project
Product; Service; Event
• Casual observer find interesting
• Unique; different or value added
• Describe project in 30 seconds
Finances
• Research How Much You Need
– Cost of Project
– Cost of Rewards Promised
– Don’t Forget Payment Fees
• Host Website
• Amazon
Finances
• Taxes
• Person changes mind to fund – Loss
Revenue (10-20%)
• Other services
• Do Financial Projections!
Who Gives
• The Host Site is not where revenue
grows from
• “The Story” – Media
– Unique Website for Campaign
– Social Media
Duration
• Remember – Constant Communication
– Reply to email
– Create Blog & Update
– Respond to Facebook, Twitter, etc.
– Getting media coverage
– Update on Rewards
– Update Video
– 168 Hours – Global
Video
• Be Real
• Two – Five Minutes
• Get to Point in First 30 Seconds
• You or Friend Present It
– Passion
Video
• Tech/Fab Shops Can Help
– 3-D Printing
– Rapid Prototyping
• Show as much as you can:
– Computer Model
– Physical Prototype
– Functional Prototype
• Can Use the 5 Senses
Video
• Avoid Using Copyright Materials
• Audio
– SoundCloud
– Vimeo Music Store
– Free Music Archive
• Video
– www.Archive.org
Video
• Take Your Time
• Do It Right
• Don’t Forget To Say – How to Donate
• Goal: VIRAL
• New Videos Throughout Campaign
Rewards
• Make sense & relate to project
• Awards at different payment tiers
• Value added or junk
• Did you figure into your costs
• Logistics