Have you ever had a brilliant idea about a project, but realized that you didn’t have the funds necessary to make the idea become a reality? As a result, your great idea never gets off the ground and dies a slow death just staring at you from the screen of your computer. Well, Brooklyn-based Kickstarter has an intriguing platform which is here to help you. Kickstarter is designed with creative projects in the music, television, video, comedy, fashion, gaming and other categories in mind. Don’t think of Kickstarter as a micro-lender or an investment firm. Think of it more as “micro-patronage” with built in levels of engagement.
A person or group will create a project, list the desired goal for funding and how many days the project will be open for funding. A recent example of the power of Kickstarter is when the founders of the Black Weblog Awards used the site to raise money for the 2011 edition of the awards. The goal of their campaign was to raise enough money to have a live awards ceremony with streaming video, trophies, and a private, catered reception. Another great example can be found in Karon Vereen Davis (Spelman College) and Aletha Spann.
The two filmmakers have decided to create a short film about the Atlanta Child Murders back in 1979-1981. Titled, “Leaving Atlanta”, Davis and Spann have created a project on Kickstarter to raise funding for equipment rental, props, wardrobe, set dressing, editing, and other production expenses. The initial funding goal was $5,000 but the pledge amounts have already totaled $6,942 with approximately 36 days left in the funding period. Included in this total is a backer who pledged $1000 and four backers who pledged $500 towards this project. Curious about who these backers are? Simply click on the “backers” tab and then each specific backer has a hyperlink to their profile. Within the profile you can see what other projects a member has chose to back.
The rewards (basically how you, the pledgee, will be compensated for your pledge) range from a signed still picture from the short film with a thanks on the website ($10 donation) to a producer credit in the short film with a signed copy of the actual book, DVD and thanks on the website ($1,000 donation). Each project will have a unique set of rewards that the project creator has listed to match the donation amount. For some very affordable prices, you can become a part of the project you are actually investing in. This specific project has weathered the storm of 23 publishing rejections and is headed to a screen near you via the power of Kickstarter.
There are numerous questions and details with regard to the details of donating. Basically, you must use your “Internet street smarts” when deciding if and how much to donate. Many of the projects will have video testimonials which gives you better perspective of the goals and people behind the project. Kickstarter will make 5% of the funds raised for each project. If funding isn’t successful, then no fees are charged. Check out more pertinent info right here.
Kickstarter is a very interesting project which can be used by fledgling investors who are not financially able to make the larger investments we read about in the Wall Street Journal. Ironically, more knowledge and wisdom can be gained from becoming a investing member of Kickstarter. Take a look around, make an pledge and share your thoughts with us in the comments section.Category: Capital | Tags: Kickstarter, micro patronage, pledging