Kickstarter: Revolutionizing Crowdfunding for Creative Projects
Summary
Kickstarter is a crowdfunding platform that has seen exponential growth since its launch in 2009. It has expanded to include not only creative arts projects but also gadgets, design projects, video games, and restaurants. Kickstarter remains focused on creative projects that spring from imagination and pursue some form of creative expression, rather than maximizing profit. The film is the largest category on Kickstarter and has had significant real-world impact, with well over 10% of the slates of some of the most prestigious film festivals being Kickstarter-funded. Kickstarter has guidelines that need to be met, and as a result, projects are screened. The platform is a mix of patronage, e-commerce, and funding mechanism with some challenges in managing crowdfunding, especially where there is a mix of patronage and commerce. Yancey Strickler, co-founder of Kickstarter, believes in the company’s future in fostering a community of people who can collaborate on creative projects, which is its original goal.
Table of Contents
- What is Kickstarter, and how does it work?
- What types of projects are most popular on Kickstarter?
- How are Kickstarter projects policed?
- What challenges come with crowdfunding?
- What is the future of Kickstarter?
Introduction
Crowdfunding platforms have revolutionized the way individuals can start and run unique projects by leveraging the support of a community to turn ideas into reality. Kickstarter is no exception, with over two million people backing various projects on the platform since its inception in 2009. Through its focus on creative expression, Kickstarter has facilitated the successful funding of over 22,000 projects, with over $200 million moved through the system.
Q&A
What is Kickstarter, and how does it work?
Kickstarter is a crowdfunding platform that allows creators to post projects and receive backing from an audience in return for rewards. Kickstarter screens projects to ensure they comply with its guidelines before allowing them on the platform. While Kickstarter started as a platform for creative arts projects, it has expanded to include a variety of projects that pursue forms of creative expression, from gadgets to video games to restaurants.
What types of projects are most popular on Kickstarter?
Film is the largest category on Kickstarter, with a significant impact on prestigious film festivals. However, there has been an increase in both design and technology categories with the rising popularity of smart home devices and maker spaces.
How are Kickstarter projects policed?
Kickstarter has guidelines that must be met, and projects are screened before they are allowed on the platform. The screening process is not done by Kickstarter but relies on the crowd. Projects that do not receive enough support obviously cannot move forward on the platform.
What challenges come with crowdfunding?
The primary challenge with crowdfunding is the mix of patronage, e-commerce, and funding mechanisms. Backers may assume they are buying something that may not exist yet, leading to inevitable delays. Creators must balance delivering on their promises while managing the funds available, leaving little room for error.
What is the future of Kickstarter?
Despite the rapid growth of Kickstarter over the past three years, co-founder Yancey Strickler believes Kickstarter’s future lies in its original goal of fostering a community of people who can collaborate on creative projects. Although the company has experienced excellent traffic, he sees no need for any significant shifts in strategy. Strickler hopes to keep the focus on the community rather than the company’s growth.
Conclusion
Kickstarter has changed the way projects receive funding by becoming a platform for a uniquely diverse set of creative projects: from film festivals to restaurant openings. Through its screening process, Kickstarter has ensured that its platform meets the guidelines of the community it serves. While crowdfunding comes with unique challenges, Kickstarter remains a reliable platform for connecting communities with creatives. The company’s future continues with its original mission of fostering creativity and continues to foster a community for unique ideas that might not have existed otherwise.
