Kickstarter, an early crowdfunding platform founded in 2009 has been successful to say the least. According to, between July 2012 and November 2022, the commutative value of funding pledges amounted to approximately $6.95 billion U.S. dollars. It offered emerging entrepreneurs an almost risk-free way to test the viability of their products before they actually had to build them. This funding process also provided entrepreneurs with ‘no strings’ capital if they attained their fundraising goal.
For one thing, you can now find other entrepreneurs who will actually help you be successful on these crowdfunding platforms by doing the market research and helping build your marketing campaigns. One of these companies isa crowdfunding marketing agency with more than $100 million in funded campaigns.
Recently, we had the opportunity to sit down with the founder and CEO of LaunchBoom, Mark Pecota who provided his perspective on crowdfunding today via his answers to our questions below.Crowdfunding is still a great way to reduces risk for product inventors/creators. In traditional product launches, you'd have to invest a huge amount of money into building your product inventory before you launch. But in crowdfunding, that investment can wait. All you need is a functional prototype.
This could be a great way for entrepreneurs to start off their first business ideas. UC_BUSI215
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