Some students are drawn towards graduate jobs and employment. However, other students may be interested in setting up a business or launching a lucrative business idea you are passionate about. Many of you may have some innovative ideas and at Coventry University, the Institute of Applied Entrepreneurship (IAE) team are here to help you develop these. For those distinctive ideas, some of you might be aware of Kickstart; an ingenious way of getting your projects funded.
Kickstarter is an online global crowdfunding site that allows people to help creative and unique projects come to life. The New York based company allows people to view original concepts from creators and innovators and then pledge contributions to the projects they like. For a specified length of time, people can contribute a minimum i.e. £1/$1 to a project or other pre-defined amounts for various incentives, including the product itself, depending on the value of the product and pledge size. It simultaneously allows people to help a growing business/project and get their hands on a product or service they like.
The site allows for a lot of creative freedom. Whether it’s a gadget or digital platform, a creative production such a film or show or even a food product, you can ‘start a project’ and entice site visitors to your product. Providing a detailed description and usually a video breakdown of what you’re trying to launch is highly recommended. If your specified monetary target is not reached, it’s not all bad; users can give you useful feedback on your project so you can go away and improve the idea you have. This may mean you can re-launch it again in the future, hopefully to success.
There have been some amazing projects funded on the site. Ingeniously useful products such as water resistant/repellent sprays and ultra slim iphone case chargers (if you have/had an iphone 5, you’ll know the struggle.) And then comes the weird and wonderful; 3D pens, custom to ear-fit wireless earbuds and immersive virtual reality gaming machines (that is honestly the simplest way to describe it!) There are, of course, rules and regulations to what can go onto the site but there are no restrictions on your creativity.
The highest funded project so far is a cooler! A box to simply keep its contents cold with a few USP’s including speakers, a USB charger and rechargeable blender, has generated over $11,000,000 in pledges! That’s over 22,000% funded, past the $50,000 target! If you can truly inspire potential consumers, finding a niche and/or genuine innovative solution to man’s everyday issues, you need not a dragon from any den; just the idea itself to spark interest in others.