Today, the way we support and fund new ideas has transformed entirely.
Before, seeking financial support to fund a movie project required asking close friends and family for help.
Banks and rich investors also help out. But sometimes, they give out funds to projects that have already excelled. They rarely give out funds to projects that may likely not succeed.
As a result of this, most start up entrepreneurs usually lack the financial support they need in order to boost their projects.
Today, entrepreneurs have better options and that’s through collective funding sites.
These platforms allows people in supported locations to to display their ideas to the public and seek for financial support.
This means has helped and supported a lot of young and already established entrepreneurs.
These platforms creates an avenue where people can sincere seek financial support from random people they don’t know.
These sites can be used by young innovators who’re into software creation. Furthermore, entrepreneurs can use this site to educate the public on how these tools could be useful to a lot of people.
Interested people who like the project could pre-order it to be sure the investor is actually building a software. Or they could give out a little token to support the creator in completing the project.
Creative works like movie production and music recording can use public funding to support their career.
Authors and writers can also appeal for a public funding. Many gifted and brilliant artists never had the opportunity to show their talents. They don’t have the funds and the right support they need for their skills to be harnessed.
With public funding, fans and followers can show support to their favorite artists directly.
With this, artists can stay independent. They can create exactly what they want without being dictated to by a movie production company or a music industry.
A part from creative works, these platforms could also be used for general community needs. This has an impact on the social life of the people within the community. It could be a program to feed the underprivileged. A project to clean up the community park and neighborhood. Or to build a school and equip it. This allows individuals in the community to independently appeal for funds on these platforms to achieve the same objective.
Finally, a lot of people this days are into health and lifestyle projects. They need money to buy new fitness equipment. Or to replace a outdated one.
Most times, public funding is the fastest way to get funds for their projects and needs.
That’s why public funding sites like Indiegogo have made it possible for people with a good idea to seek help. It links creators directly to the people who will benefit from their work or support them in any way they can.
What is Indiegogo?
Indiegogo is a public funding site that helps people fund creative projects and innovative ideas. Indiegogo projects fall into 3 main categories, plus others.
1. Technology and Innovation
This is the most popular and funded project on Indiegogo platform. It is further grouped into:
- Phones and Accessories
- Smart Home devices
- Electric scooter, bikes and others
2. Creative Works
This section is for performers and artists who needs financial support to complete their work.
- Film and Video
- Music and Audio
- Writing and Publishing
- Art and Theater
3. Community Projects
For people who wants to improve their local area or help those in need.
- Local Businesses
- Wellness and Culture
- Social Impact
4. Gaming Culture
For different types of games.
- Tabletop Games
- Video Games
6. Lifestyle
- Fashion
- Home
- Travel and Outdoors
Furthermore, Indiegogo has strict rules on fundable projects. Below are certain projects that can’t be funded on Indiegogo platform.
- Personal Causes
- Medical Funding
- Financial Investments
- Political Campaigns
- Unauthorized Travel Tickets
How Indiegogo Works
Indiegogo helps to connects people with ideas to people who’re willing to support their projects. Below is how to sign up and use Indiegogo platform to seek financial support.
Step 1
Firstly, creators must have an idea or a project that needs funding. Maybe a book project, movie production or a game software. They must set up funding goals and the time limit.
Step 2
Next, visit the Indiegogo platform and create a page. Fill in your information and include videos to display how your idea or project works. Write a brief explanation about your work and why you need funds to support or complete your project.
Step 3
Once the creators page is completely set, launch and promote your page. Share the link to all your social media platforms. This way, you can get financial support from people all over the world. You may choose to send the link through email to your friends and family members.
Step 4
Indiegogo for known as ‘all or nothing’. This means, for creators to get the funds donated to them, they must meet up with the target. Therefore, it’s important to set a goal that you can achieve within a short time. If not, they get nothing and the funds are returned to the donors.
Step 5
If the funding was successful and the target is met, Indiegogo will take a small fee for running the platform and send the rest to the creator. The funds will be used by the creator to complete the project.
Step 6
After completing the project, the creator:
- Sends the promised rewards (perks) to the donors that supported the project.
- Keeps donors updated on progress through emails. While Indiegogo will send the posts to the donors.
Perks are gifts or rewards supporters get for funding a project. For instance, if a donor funds a new game software project, the creator might send you the game when it’s ready.
List of Indiegogo Supported Countries:
- Canada
- Mexico
- United States
- Austria
- Belgium
- Cyprus
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Ireland
- Italy
- Latvia
- Lithuania
- Luxembourg
- Malta
- Netherlands
- Norway
- Poland
- Portugal
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
- United Kingdom
- Hong Kong
- Japan
- Singapore
- Australia
- New Zealand
List of Indiegogo Supported States in the USA
Indiegogo is a U.S. platform. It can be used by innovators, artists and software developers in all the states within United States. Creators can use this platform as long as they’re able to provide basic accounts requirement and comply with Indiegogo’s guidelines and policies.
Indiegogo Alternatives
- Kickstarter
- GoFundMe
- Patreon
- Ganefound
- Wefunder
- StartEngine
- Findable
- NaijaFund
- StartChrunch
Conclusion
This platform allows people from all Indiegogo supported countries to raise funds for their projects. Indiegogo platform is strictly for innovators, artists and creators. However, platforms like GoFundMe can be used to raise funds for personal needs, medical bills and other causes.
Furthermore, creators must reach their target before receiving their funds. Creators must also reside in one the Indiegogo available countries before they can use this platform.
In addition, most Indiegogo supported countries are located in Europe and North America. Creators must have an official ID and a bank account from one of these specific places to receive funds.