Are you tired of going to the bank for a loan? Have poor credit rating or having trouble getting the banks to fund your ideas? Well, do what everyone else is doing and get the “crowd” to fund your next project!
Crowdfunding is a means of raising money for a project by allowing the public to invest in your idea. You don’t need to worry about having to give away equity in your business either as, with most crowd funded projects, you simply offer those funding you a reward, with the size of the reward depending on the amount they fund you. It’s also a great way to build up some product orders before the project is off the ground – many of these crowd funded projects actually offer their product for a fair funding fee.
There are a many services out there for you to post a project to and get it funded; just search Google for croudfunding and you’ll see hundreds. The most popular of these services are perhaps Kickstarter and Indiegogo.
Earlier this year the Ubuntu Edge, a powerful mobile phone, smashed all crowdfunding records, however it was still unsuccessful and therefore the failure mentioned in the title. Below are my choices for the top 5 mobile phone related crowdfunded projects.