Crowdfunding has taken the Silicon Valley startup scene by storm. Once a pastime for early adopters, crowdfunding has gone mainstream on a global scale. $16.2B was raised in 2014 alone, up from $6B in 2013. The market is set to double again in 2015, surpassing the venture capital industry, which invests an average of $30B each year. Let Silicon Valley VCs focus on the next unicorn; upstarts with big dreams of their own can still ‘make it’ through the power of the people.
Campaigns on popular crowdfunding sites like Kickstarter and Indiegogo entice people to invest in goods and services that matter to them, thereby empowering the ultimate consumers to help their favorite items cross over from prototype to commercial product. Not surprisingly, the wild success stories of early campaigns like smartwatch Pebble and gaming console Ouya captivated a startup community that had historically been beholden to credit card debt, friends and family, angel investors, or early-stage VCs to get their business ideas off the ground.
Thanks to crowdfunding platforms, entrepreneurs now have a viable alternative to traditional seed funding, and they don’t have to risk their personal credit rating, strain any family relationships, or give up a chunk of their companies in the process. They just have to find a way to capture the hearts and minds of a sufficient number of fellow makers and tinkers, tech aficionados, and end consumers to get the early funding they need.
Here at Sterling, we’ve definitely felt the impact of the vibrant culture that’s formed around crowdfunding. Over this past year, we’ve had a big influx of PR and video project requests from companies looking to launch their products via crowdfunding campaigns. From wearable smart toys to consumer, enterprise mobile apps, noise-canceling headphones, and the world’s first hoverboard, we’ve had the pleasure of helping entrepreneurs craft and deliver the right assets to exceed their fundraising goals and create an army of supporters. It’s exciting to help these small but mighty teams get their ideas funded and early-stage companies off the ground!
So, do you have an idea that just might be the next ‘Big Thing’ in the market? If so, contact our creative team to tell us about your idea…and hear some of ours on how to promote it.