Monday, 25 July 2016


Non-Starters: Weirdest crowdfunding fails - Infographic
By, 30 June 2016.

Well over a decade of targeted broadcasting about entrepreneurship from programs like ‘Dragon’s Den’ and ‘The Apprentice’ have convinced thousands into believing that they can ‘make it big’ by creating the next ‘killer IP’.

Up until recently these shows snapped would-be Zuckerbergs back to reality quickly, by reminding them that there was always a business-savvy investor they needed convince. Sometimes even featuring a terrifying blond toupee.

However, thanks to the invention of crowdfunding websites, all that now needs convincing is the internet: a collective of individuals who worship the obscure and delight in the deluded. Want to raise US$1,500 to disprove the existence of gravity? Sure. Want US$18,000 to fund your internet-enabled toothbrush attachment? Go for it. Want £1.8 billion to fund the construction of a fictional city? Why not.

The other game-changing facet of crowdfunding sites is that they require very little initial investment of time or money to set up a campaign. They’re intentionally built this way to ensure that campaigning is as easy as humanly possible. This is not only great for those on a shoestring budget, but also for those with a down-right mental business idea.

The craziest ideas fail to raise the required amounts to get access to their funds. Those that capture the public’s imagination, though, often snowball and massively exceed their initial funding ceilings. Sadly, even with what seems like limitless money many of these ‘successful’ projects fail to deliver on time, or in worst case scenarios, at all.


[Source: Links added.]

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