The estimated reading time for this post is 7 minutes
If you want to discover the latest and greatest cutting edge tech before it even becomes real, check out Kickstarter, a crowd funding website that helps people find funding for their projects. Kickstarter also helps people find interesting projects and tech well before they arrive on the market.
All sorts of projects can be launched on Kickstarter including film, art, design and fashion projects. But as you came to read about tech, Kickstarter tech projects are what you’ll see here.
Even if you have no intention of forking over your hard-earned money to inventors, you still may want to check out Kickstarter to get a glimpse of the future. Kickstarter shows you inventions before they get to market.
Kickstarter itself has been a source of significant funds for inventors. To date, Kickstarter has provided funding to over 30,000 projects for a total of $350 million from over 2.5 million people. Examples of successful Kickstarter tech projects include the Makey Makey, Pocket TV, Elevation Dock, Smarter Stand for iPad and Printrbot.
Check out Best Kickstarter Projects of 2012 for other fascinating projects that were funded through Kickstarter last year.
How Kickstarter Works
You can search Kickstarter for projects based on category, such as tech, games, art, theater, etc., or by designations such as Recently Funded, Popular or projects that are local to your area.
When you find a project that interests you, go to the project page to find out more information about the project. The project page will show you the funding goal, how much money has been raised already and how much longer until the deadline for reaching the goal. The right column shows different funding levels, from the lowest to the highest, with rewards for the different levels.
If you find a Kickstarter project you think is worthy of your funding, you can support the project. If you believe in the project and want to help bring it to market, expecting nothing in return, you can pledge funds supporting the project. The lowest pledge amounts, generally a few dollars, allow you to help fund projects you believe in out of the goodness of your heart.
For many projects, you may want a little something in return. At higher funding levels you often can get one of the first items to roll off the assembly line. The ideal is that you discover a really cool gadget, pledge your funds, and be the envy of your friends as you have the most awesome tech that everyone is talking about.
The funding is all or nothing. If a goal is reached, then the project will be funded. If the goal isn’t reached in time, then the inventor gets no funding.
When you make a pledge you aren’t charged until the funding goal is reached. If the deadline expires before the project is fully funded, then you’re not charged for your pledge. As soon as the funding goal is reached, then backers are charged their pledge amounts and the inventor is committed to completing the project.
Pledges are paid through Amazon Payments and are available to anyone worldwide. Inventors must be in the US or UK.
After you’ve made your pledge, you’ll receive updates from the inventors, sometimes even before a project is fully funded. Inventors may update backers with blog posts, videos and email status reports about the progress of the project. Sometimes the news is to inform you of a delay due to unforeseen circumstances. You’ll begin to understand the complexities of bringing a product to market and learn about the challenges of development, production and delivery.
When you finally receive your reward, you’ll feel as if you were part of the process as you enjoy your cutting edge tech.
But it doesn’t always work that way.
What You Should Know Before Investing in a Kickstarter Project
Patience is a Necessity
If you find a Kickstarter project you think would make a great gift, don’t count on it arriving in time for Valentine’s Day, a birthday, anniversary, Christmas, Hanukkah, Kwanza or any other event in 2013. Inventors are often new to the demands of business and pesky issues such as manufacturing, tooling, shipping and other matters often delay delivery of final products. At the end of last year it was announced that 84% of Kickstarter projects were delivered late.
There Is No Guarantee that Projects Will Ever Be Delivered
Although cases are rare, some projects that were funded on Kickstarter were never delivered. Inventors may have had the best of intentions, but the realities of bringing a project to market may be much more expensive or challenging than were initially anticipated. Kickstarter doesn’t independently investigate the feasibility of projects nor guarantee their completion. Fund wisely and realize that you’re taking a risk.
Funding Isn’t Investing
By pledging money you do not buy a piece of the inventor’s company or profits. You are financially backing a project in the hopes that the project will reach its funding goal and the project will be completed.
Your reward will be the knowledge that you helped an inventor achieve his/her goal. If you fund at a level to be rewarded with an item, then that, in addition to emotional satisfaction, can be your reward. But don’t expect to get an equity share in the company or receive dividends when the inventor strikes it rich. Your best reward may just be bragging rights that you spotted the hottest tech ever to hit the market before your friends even knew it existed!
A Failed Kickstarter Project Is Not Necessarily a Bad Project
Check out Why It’s OK to Fail at Kickstarter at Mashable for an insider’s perspective on a failed Kickstarter project.
Sample Kickstarter Projects
iPen 2
A project that is currently seeking funding is the iPen 2, a pressure-sensitive stylus that works with the iMac or the iPad 2, 3 or 4. This pens allows you to draw on the screen as if you were using a pen, allowing for greater creativity and a writing experience closer to pen or paper. The stylus is “angle agnostic,” good for right- or left-handed people, and can record up to 1024 levels of pressure.
Here’s how it works:
The iPen 2 has a goal of $360,000 but is only funded with $105,000 with 15 days to go (as of this writing). The business, Cregle, Inc, has successfully funded two previous Kickstarter projects, but with less than one-third of its goal funded, the chances for the iPen 2 to be successfully funded don’t look to promising at this point.
Pebble Watch
The most successfully funded Kickstarter project ever is the Pebble watch by Pebble Technology. The Pebble watch has an eInk screen and connects wirelessly to your iPhone or Android phone using Bluetooth.
Functions of the Pebble watch include:
- Incoming Caller ID
- Text messages on both Android and iPhones
- iMessage (iPhone only)
- Calendar Alerts
- Facebook Messages
- Weather Alerts
- Silent vibrating alarm and timer
The inventors have allowed third-party developers to create apps for the Pebble Watch, increasing the potential functionality of the device. Pebble Technology has developed an app so the watch can be used as a bike computer and developers are working on an app to use Pebble as a golf range finder.
Pebble’s initial goal of $100,000 was easily surpassed, with the funding eventually totaling over $10 million from 68,929 backers in May 2012. The initial projected delivery date of September turned out to be a bit unrealistic however. After numerous delays, the promised ship date is now January 23, 2013.
Here’s a video with more information about the Pebble Watch:
Stay tuned to The Wonder of Tech for a full Pebble review after the launch of the device.
Indiegogo – A Kickstarter Alternative
Kickstarter isn’t the only crowd funding game in town. Also check out Indiegogo for other interesting tech projects to fund.
Bottom Line
If you want to help fund tech projects, get cutting edge tech before it comes to market or just see what the future may hold, check out Kickstarter. Stay tuned to The Wonder of Tech for fun and interesting Kickstarter and Indiegogo tech projects.
Have you ever funded a Kickstarter project? Do you like the idea of helping inventors make their dreams come true? What sorts of projects would you be interested in funding, if any? Let us know in the Comments section below!
********************
Rob Shoesmith’s Indiegogo Project
Rob Shoesmith, author of Bin There Done That and Digital PR Director of app developer MEDL Mobile, has embarked on an Indiegogo project to help fund his next adventure. The man who received worldwide attention for camping outside the Covent Garden Apple store in London for 10 days prior to the launch of the iPhone 4S has a new idea: visiting every Apple store in the UK and having his picture taken in front of each one. He hopes to raise £7000 to fund the project. The story of his journey will be made into a book.
Backing for the project is available at levels ranging from £1, which gets you an email of appreciation from Shoesmith to £2000, which could fund a trip to Cupertino, California (home to Apple headquarters).
If you want to learn more about Shoesmith’s project, check it out at Indiegogo.
HI Carolyn
Great information shared!
I like the concept of crowdfunding, Kickstart can be appealing to people who want to invest in inventions but it can be a risky proposition as well.
Thanks for sharing this.
Sapna
Hi Sapna, Yes, crowd funding can make a big difference in helping creative projects become a reality. Sites such as Kickstarter and Indiegogo are exciting for both people who need the funding and people who want to support the projects.
You’re right, though, there are risks to backing these projects. But even if you’re not looking to back a project financially, you can still visit these sites to get a glimpse of the future and be inspired about people’s ingenious ideas!
I like all these alternative funding ideas. The industrial revolution was funded by lots of people getting together to fund small companies. They often held public meetings to explain the new idea and ask for funds. This is similar, but perhaps not as well organised!
You’ll like my post tomorrow. Editing snow pictures for beginners. I can’t feel the end of one of my fingers, I’ve spent so much time out there! I just help another neighbour clear some snow. I hope to take more pictures, but the roads are still a bit risky. The trees covered in snow look good! I even had a request to photograph one house! I really want the sun to come out tomorrow while the trees still have snow, preferably around 1 pm while it’s still quite high in the sky! You need luck, a warm coat and boots for this type of photography!
Hi Mike, Interesting historical perspective! Yes, sometimes it takes a village to support each other. Kickstarter is like an online village, bringing people together to support each other.
Be careful out in the cold, Mike! I hope you don’t get too caught up in taking snow pictures that you forget to go inside and stay warm!
I look forward to seeing your pictures and reading your article tomorrow, Mike!
Our IT guy has used Kickstarter to fund a couple of projects he’s been working on; pretty interesting stuff. Maybe I can use it to fund a self-hosted site and my wife will be so proud I actually did something in social that made money (or at least didn’t cost us anything).
Well, proud might not quite be the word I was looking for but you get the drift, right?
Hi Bill, Very cool that you know someone who has successfully funded Kickstarter projects. Were they tech projects?
Bill, you could probably sell subscriptions to your amazing blog and rake in the dough. (*)
Carolyn,
Kickstarter sounds like a great company! I am definitely going to check them out! I wonder if the inventors all have patents on their ideas? I ask that question because I wonder if anyone ever steals a person ideas from something like this. Seeing the next big thing is wonderful but I would think it would have some risks of “theft.” Just my two cents of course!!!
Aaron
Hi Aaron, Excellent point. It would certainly be a good idea to get a patent on inventions before initiating a Kickstarter project. Not only would a patent help protect intellectual property, but also help backers gain confidence in the project.
Now that’s pretty cool Carolyn because it does give people who have great ideas a way to fund their projects. I do understand though that not all of them may reach their funding goals but if you don’t have the backing to begin with then you really have nothing to lose.
I don’t even had an iPad but I think the Monkey Kit is just too cool.
Thanks for this share.
~Adrienne
Hi Adrienne, You’re exactly right, inventors don’t have a lot to lose in trying for Kickstarter funding. There is no fee for initiating a Kickstarter project, the company takes a cut of the funding if the goal is met (Amazon gets a cut then too). In addition to funding they get publicity as well. It’s all good.
crowdfunding is a great concept, Kickstart looks good for those who want to invest in new tech but it can be risky if the product didn’t go the way they expected it…
Hi Jawad, Yes, you’re right. When you fund with Kickstarter, you are seeing products before they even come to market. By getting in on the early stages you are a part of cutting edge tech. But things can go wrong. The safeguard with Kickstarter is its all-or-nothing policy that doesn’t charge backers until a project is fully funded.
Hey Carolyn
I really like the sound of Kickstarter.
It seems like a relatively risk-free way for inventors to get their stuff into development, apart from as Aaron says, people need to be careful that they protect themselves with patents.
They may not get fully funded but I’m sure even this kind of exposure is still pretty good to get their name’s out there.
Hi Tim, Yes, the publicity that Kickstarter brings to inventors is definitely helpful, even for projects that don’t reach their funding goals. An inventor should be motivated to make the best presentation possible to encourage backers and potential customers as well!
Thanks so much for sharing the knowledge of this wonderful project funder kickstart. If I wish to start anew anything in future, I would think about it first. I will also recommend it to my known ones and tell them its benefits.
Hi Vicky, I’m glad you have discovered Kickstarter as a possible funding source for your projects. Please let us know if you post a project there. :-bd
Sounds like fantastic project. I really like the idea of alternative funding, and especially when it’s for cutting edge ideas. It’s great that you listed a bunch of pro’s and cons behind investing as well as the different projects. Thank you.
Hi Andrew, Welcome to The Wonder of Tech! I’m so glad you enjoyed this article. Yes, Kickstarter is a fantastic site for finding cutting edge tech. Even if you never financially back a product, you can still have fun seeing what the future may hold for us!
This was a very detailed article Carolyn. I have been visiting Kickstarter for a while, especially since Seth Godin started using it for his latest books. But, I didn’t know what the site was all about, until now. You’ve explained it perfectly. The best reason for looking at Kickstarter is to see how many brilliant people there are. I just love watching all the fantastic ideas.
Hi Jens, You’re right, just visiting the Kickstarter site is inspirational. So many people are acting on their dreams. (*) Even if they don’t get funded, you have to be impressed that they’re trying.
Hi Carolyn,
I’ve read about Makey Makey before and I don’t remember where exactly 😉
I really love the Pebble Watch concept and it has numerous functionalities than we might assume such a gadget has 🙂 I didn’t know about KickStarters but glad you brought it here for us. Ah… There’s many and many projects going on, and we can’t imagine the numbers at all 🙂
Delivery time and cost are still common factors that not easy to manage when it comes to innovation 🙂 The early stats of 10% success is still valid as you mentioned 84% projects are delivered late. It’s not easy as it says, as when I was working on Software Projects, I’ve gone through ’em. But better later than never and sometimes very good projects get dissappear when they can’t get funding or acquire prerequisites.
iPen 2 is interesting and wondering why it has no much attention though. The first iPen MUST be a successful one. May be lack of features in version 2? Gotta compare both 🙂
The key points are valuable if somone wanna start funding dear 🙂 I know many folks would love funding, but has no good understanding what does that means exactly. Not like funders but developers gotta go lot of pressure and legel aspects matters too.
Anyway yet I’m not capable enough to fund though dear 🙂 I’d like to but I need to fund myself before that 😉 lol…
Hope to read more about interesting projects here 🙂 Bring it on…
Cheers…
Hi Mayura, You might have read about the Makey Makey at Your Best Holiday Tech Gifts! https://wonderoftech.com/your-best-2012-holiday-tech-gifts/ It’s such a cool invention that it’s difficult to believe it’s real. I was going to include the Pebble Watch in that list, but the shipping got delayed.
Speaking of the Pebble Watch, today I got news that the first shipment is being sent out this afternoon. Only 500 are going out in the initial shipment so I probably won’t be one of the first ones to receive it. We’ll see if the Pebble Watch makes it to me in time for my Valentine’s Day Tech Gift List!
Even if you can’t or don’t want to fund, it’s still interesting to visit the Kickstarter site to see what inventions may be in our future and be inspired by the creations that people are trying to make happen.
Thanks for stopping by and sharing your comments here, Mayura!
Now this is really cool, I am sure there are many creative thinkers out there who back off from making their thoughts into reality just due to lack of funds. Kickstarter provides the right base for all such people am sure. This is a great find and share Carolyn.
BTW – is WonderOfTech supporting/funding any of these wonderful projects here? Curious to know.
Hi Praveen, Yes, Kickstarter is a fantastic source of funding for those who have more ideas than money. Great ideas can become a reality through Kickstarter. The link to the 2012 review of Kickstarter projects shows some very inspirational stats!
Great question, Praveen. Yes, I backed the Makey Makey, Smarter Stand for iPad, and the Pebble Watch on and Rob Shoesmith’s project on Indiegogo. Kickstarter tends to be a bit dangerous for a polygadgetist such as me. I see a lot that I like there but I try to limit myself to avoid going too crazy.