Teaching Entrepreneurs Crowdfunding Strategies

With record-breaking projects like the Pebble Watch putting the spotlight on crowdfunding, more entrepreneurs are turning to platforms like Kickstarter and IndieGoGo to raise money for their ideas. Unfortunately, few have access to seasoned crowdfunding veterans to guide them through the challenging process of convincing a large number of strangers to donate small amounts of cash.

Enter Elizabeth Gerber and her team of researchers. Gerber runs Northwestern University’s Creative Action Lab, whose mission is to “develop theory, tools, services, and work practices to support collective design work.” Gerber recently started the GoCrowdfund project, which aims to help entrepreneurs looking for advice on how to run crowdfunding campaigns.

Researchers at the Lab have interviewed – and continue to speak with – dozens of entrepreneurs who used a variety of crowdfunding platforms to run their campaigns. Many have succeeded; some have not. By aggregating this information and putting it into a comprehensive toolkit, Gerber hopes to help entrepreneurs avoid making the mistakes of their predecessors and use existing knowledge to create a successful campaign.

Read full article » www.crowdsourcing.org/editorial…


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