@seedingfactory
An Overview of
Crowdfunding for mobileWavefront - Grow your wireless business conference
by Heri Rakotomalala
mercredi 11 décembre 13
@seedingfactory
StartupStache is a initiative started by the startup community to help bring awareness to prostate cancer.
With iNovia Capital, unlok.me, Trendr, Real Ventures, FF, etc.
Link : startupstache.com
mercredi 11 décembre 13
@seedingfactory
Heri [email protected]
Twitter: @heri
Bruno [email protected]
Twitter: @brurakoto
mercredi 11 décembre 13
@seedingfactory
mercredi 11 décembre 13
@seedingfactory
• Definition crowdfunding
• Crowdfunding numbers
• More than just funding : crowdfunding benefits
• Crowdfunding for mobile
Summary
mercredi 11 décembre 13
@seedingfactory
crowd·fund·ingˈkroudˌfəәndiNG/noun
the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.
mercredi 11 décembre 13
@seedingfactory
mercredi 11 décembre 13
@seedingfactory
Joseph PullitzerCrowdfunding the Statue of Liberty
pedestal
mercredi 11 décembre 13
@seedingfactory
mercredi 11 décembre 13
@seedingfactory
• 44% success rate on Kickstarter
• 56% of contributions come from Facebook
• 11,498 successfully funded music projects
• Average: $5000 raised
• 18 video games projects raised more than $1million on Kickstarter
• $5.1 billions in 2013 ; 81% year over year increase
Did you know?
mercredi 11 décembre 13
@seedingfactory
• Indiegogo & Kickstarter expanded to Canada
• Equity crowdfunding is NOT legal in Canada
• Montreal: Neptune Pine raising > $450k for their Android smartwatch
• Others in Montreal mobile tech 2013: Hexoskin, Snoobe, Fabule etc.
Montréal, Canada
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@seedingfactory
1. Funding
2. Proof of concept
3. Collaboratiojn
4. Marketing
5. PR
Benefits of crowdfunding
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2 - Proof of Concept
mercredi 11 décembre 13
@seedingfactory
• Check if your assumptions were correct.
• First step to convince more partners later on.
• Assessing the audience size and popularity
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@seedingfactory
Pressy - the Android Button
mercredi 11 décembre 13
@seedingfactory
➡ Take away : Not sure about an idea? Use crowdfunding to validate it
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3 - Collaboration
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@seedingfactory
• Find fans, ambassadors, partners looking to work with you and work on valuable connexions.
• Let you adapt the product/service/concept in real time.
• Get early feedback
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@seedingfactory
Snoobe : iOS version
mercredi 11 décembre 13
@seedingfactory
➡ Take away : Use crowdfunding to get valuable feedback and guide your product design
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4 - Marketing
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@seedingfactory
• Every contributor becomes an evangelist
• Good to build a community around your project.
• You’ll gain highly valuable knowledge about how to market your product/service/project
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Vandal Games
From 300k to 500k players in 1 monthBiggest and most efficient market acquisition technique for the video game studio
mercredi 11 décembre 13
@seedingfactory
➡ Take away : use crowdfunding to market your product
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5 - PR
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@seedingfactory
• Replace a product/project launch
• The innovative and dramatic aspect of crowdfunding will help you get more press coverage
• Social networks help multiply the outreach
mercredi 11 décembre 13
@seedingfactory
mercredi 11 décembre 13
@seedingfactory
mercredi 11 décembre 13
@seedingfactory
➡ Take away : use crowdfunding to get bloggers & journalists write and buzz about what you do
mercredi 11 décembre 13
@seedingfactory
1 - Funding
2 - Proof of concept
3 - Collaboration
4 - Marketing
5 - PR
mercredi 11 décembre 13
Applying it to mobile
mercredi 11 décembre 13
@seedingfactory
• A compelling, unique, creative concept with emotional impact, with a price
• Backers motivation : acknowledgment, a tangible product, or an experience
• Multipliers : a video (+120%), a solid community base (546 followers), a well-crafted promotion campaign (min 100 pitched bloggers and journalists)
• Kickstarter (44% success rate) vs Indiegogo and others (only 9%)
A few criterias of success
mercredi 11 décembre 13
@seedingfactory
• Most mobile apps are free : impossible to crowdfund
• Important : Mobile hardware is easy to crowdfund
• Kickstarter’s editorial team blocks social network, ecommerce and pure software projects
• There’s little to no emotional stories in mobile
• Find a way to appeal to the KS community!
Challenges
mercredi 11 décembre 13
@seedingfactory
• In 2013, we’ve reached a point where with a simple app, you can get fans throughout the world, fund your idea, get support, simply through online channels. You don’t have to own a newspaper anymore.
• Passion, story-telling and authenticity are key
• Crowdfunding is hard and time-intensive. Benefits outweigh challenges though. Make it work for you!
mercredi 11 décembre 13
@seedingfactory
Heri [email protected]
Twitter: @heri
Bruno [email protected]
Twitter: @brurakoto
mercredi 11 décembre 13