Crowdfunding has exploded this year, not a week goes by without one of our friends sharing the latest bicycle project looking for funding.
Jewel in the crown of crowdfunding platforms is Kickstarter. Founded in 2009, the company’s model is to help people raise money for projects by getting the backing of lots of parties who make financial contributions, be it big or small.
It can seem like quite a cut throat strategy. If a project hits the financial target it’s set for itself, then it’s a success and the funding is received. On the flip side, if the project doesn’t hit it’s target – even by £1 – then the campaign fails and no money can be taken from investors.
With more and more of these websites popping up, such as Kickstarter, indiegogo, and Moola-Hoop, would-be creators are able to fuel their desire to invent, and we’re finding lots of wonderful ideas focused on the cycling community.
So, if you don’t want any of these wonderfully innovative projects to go unfunded, why not raid your piggy bank and support one. You never know, you could be involved in the next cycling craze. Don’t forget to share with your friends – they may want to be an online backer too.