Are you the kid with the lemonade stand or the one with the quarter?
Kickstarter is the place for both of you.
Kickstarter connects people looking for money for their business projects with people willing to kick in.
It’s not a loan; it’s not an investment. It’s more like micro-patronage with a bit of crowd-sourced business advice.
In a nutshell:
Budding entrepreneurs post a video with their pitch and funding requirements.
Patrons pledge the funds in increments as small as a few dollars and up to $10,000. Pledges are pooled until the goal is met within a specific time frame.
It’s all or nothing. The rejection message is two-fold: the public has weighed in with a poor funding response, telling the hopeful entrepreneur that it’s back to the drawing board for a better concept; and it’s clear that a start-up shouldn’t be launched without sufficient resources.
Patrons are generally rewarded in the form of project mementos or perks—recently a $10 pledge brought a snack bag from an organic nut roaster, and $120 pledged to an occasional spice club (like spice-of-the month but, you know, not as regular) got you a year’s membership, a spice named for you, AND a refrigerator magnet. No less important are the thrill of proximate inclusion in a creative endeavor, and the warm and fuzzy and oh-so-hip feeling that comes from contributing to a worthwhile endeavor.
Kickstarter is open to projects of all kinds, but food is a constant motif. Food is the third most popular of the site’s 19 categories, and one of the most successful, with a 56% funding rate. The proposals skew heavily toward food trucks, cupcakes, and home canners—a sign of both the times and the company’s Brooklyn location. The average food project has a funding goal of about $5,000, although this summer saw the founding of a North Carolina craft brewer who raised $44,000. Other recent launches include a solar-powered mobile crêperie, construction of a pedal-operated machine that churns butter and powers a toaster, and an Illinois high school class that wants to publish a cookbook (watch the typos in the business plan, guys).
Get in on the ground floor.
Currently seeking funds:
- Tails and Trotters, a Portland, Oregon chef-farmer partnership, is almost half-way to its goal of $10,000 with 8 days remaining. The team is developing a true Northwest prosciutto produced from pigs fattened on hazelnuts. $100 will get you a ham and a VIP invite to the opening of their retail shop.
- The clock is seriously ticking for Leo & Co., mother and son organic dog biscuit makers. With one day and just a few hundred dollars to go, they’ll send you a biscuit personalized with your pet’s name when you pledge as little as $1.
- $40 gets you a screen credit in the forthcoming documentary Pimento Cheese, Please, currently looking for another $1,800 to cover production costs.
- Help restore a 60 foot long dragon costume for use in the Chinese New Years Parade in San Francisco. 13 days and $2,000 to go, you can pledge as little as $1, but $50 will get you your picture taken wearing the dragon’s head. Not the foodiest of ventures, but the group behind the costume provides funding to the SF Food Bank. And how awesome is that dragon’s head picture?!.
See all the projects pending at Kickstarter.
Do you have an idea kicking around? Learn how to post your own project.