While we wait for Apple to release the iWatch, a smartwatch that is considered the “next big thing,” Pebble Technology has already developed an E-Paper Watch that is compatible with iPhone and Android. Pebble pledged for $100,000 on Kickster.com and ended up raising over $10 million from almost 60,000 backers. Creative projects, from desktop 3D printers to ambitious garage bands records were able to find their funding from similar crowdfunding websites, assuming their proposals are attractive enough.
Crowdfunding has taken a traditional start-up process and radically transformed it. Small start-ups can now easily fund their dream projects by pitching their ideas over the crowd-funding websites, which invites people around the world to back the projects. The backers, in turn, feel like they are part of a larger supportive community. Crowdfunding has significantly lowered the barrier to entry. In addition, start-up companies are able to cultivate better products from their constant interaction with backers. This will surely contribute to a new age of innovation.
To illustrate the potential for crowdfunding to shape our communities, the following video outlines the project to build a 66 story skyscraper, with small investments from thousands of investors. Great numbers can achieve phenomenal results.
Rodrigo Nino: Crowdfunding In Real Estate. Finance Your Ideal City from Piers Fawkes on Vimeo.