"How Crowdfunding Has Changed the Startup Game"

How Crowdfunding Has Changed the Game
By Peter Rejcek Singularity Hub


The development of innovative technology — from virtual reality headsets to space exploration to solar-powered roadways — is no longer the province of companies with big R&D budgets or venture capitalists with deep pockets. Many of today’s tech entrepreneurs don’t stand on the shoulders of giants — they surf a crowd of people to find success.

Crowdfunding has become a multi-billion-dollar industry, funneling millions of dollars into thousands of projects. Technology in particular is one of the leading categories on popular fundraising platforms like Kickstarter and Indiegogo. On the former, it’s the third-ranked most-funded category, behind games and design, with more than $500 million pledged since Kickstarter began in 2009. On Indiegogo a third of funds raised come from technology and design campaigns.

“Many of the tech breakthroughs on Kickstarter have to do with making tech more accessible. Tools that were once only available in factories are now available to regular people in their own homes or nearby marketplace,” says David Gallagher, a spokesperson for the Brooklyn-based company.

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