Indiegogoby Mel Dec 2, 2020 | 0 Votes | 52 Bought | 0 Reviews - rate Indiegogo is a crowdfunding website that allows people to solicit funds for an idea, charity, or start-up business. By giving entrepreneurs around the world a platform to launch new, revolutionary products, they help promote innovative concepts in tech, health, design, and much more to a select audience before they go mainstream. Buy Now Similar Brands Bought
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Indiegogo is a crowdfunding website that allows people to solicit funds for an idea, charity, or start-up business. By giving entrepreneurs around the world a platform to launch new, revolutionary products, they help promote innovative concepts in tech, health, design, and much more to a select audience before they go mainstream.
What to Buy
One of the first crowdfunding sites on the internet, Indiegogo was founded in 2008 after three students at the Haas School of Business, University of California, Berkeley--Danae Ringelmann, Eric Schell, and Slava Rubin—found that they all had similar difficulties with raising funds for their particular pet projects.
Today, Indiegogo’s group of fundraisers called ”Backers” is 10 million strong, representing 235 countries and territories and has helped bring more than 800,000 innovative ideas and solutions (19,000 campaigns launched every month) to fruition since 2008.
The site runs on a rewards-based system, meaning donors, investors, or customers who are willing to help fund a project or product can donate and receive a token or Perk rather than an equity stake in the company.
To get a full list of Indiegogo campaigns that might strike your fancy and entice you to crowdfund, simply go to Indiegogo.com where you can browse the Indiegogo Marketplace through a variety of ways on the homepage, including by Popular Projects, 10 Cool & Clever Finds (the site’s roundup of standout projects, Team Favorites (of the week selected by Indiegogo’s editors); InDemand Superstars (crowd favorite campaigns that have achieved massive success and continue even after campaign deadline has passed); and Production Ready (campaigns with perks already in production, which means they've made serious progress on getting their products to you: their Backers!)
Meanwhile, sign up to Indiegogo and you’ll find a wider variety of categories and recommendations when you select your interests, such as campaigns for Home, Phone & Accessories, Travel & Outdoors, Health & Fitness, Fun & Games, Kids & Families, Products for Good, Arts & Film, Audio, Food & Beverages, Fashion & Wearables, Productivity, Video games, and many more.
Current hot campaigns in the Marketplace include a transparent face mask, a graphene battery power bank, a carbon steel frying pan, and the world’s lightest electric folding bike, just to name a few.
To join Indiegogo, simply Create an Account from the main page by providing your name, email address, and password (or by signing in with your Facebook account).
Afterwards, just click on any campaign, learn all about the project’s concept and complete details, and find out about Product Stage updates, particularly for Tech & Innovation campaigns. While Indiegogo does not review crowdfunding campaigns for feasibility, they do require Product Stages for all Tech & Innovation campaigns where their Trust & Safety team reviews and addresses any concerns on each individual campaign in this category before granting the Prototype Stage, Manufacturing Stage or Shipping Stage to any campaign – so you can be better informed about where these ideas are in the product lifecycle when you’re deciding whether you’d like to back them.
Perks are listed on the right side of the Campaign page under the "Back It" button. If you do not see any Perks listed, the campaign owner may have decided not to offer any Perks. Review the list of Perks, select one, and you’ll be directed to the contribution check out process.
Note that Perks are offers made and managed solely by campaign owners, not Indiegogo, and the site does not guarantee that perks will be fulfilled, or that if fulfilled, Backers will be satisfied with the Perk they receive.
Meanwhile, if you'd like to contribute to a campaign without Perks, you can simply click on the 'Back It' button without clicking on a Perk. You’ll then be able to enter the amount you'd like to contribute and choose your payment method.
It is important to understand that backing a campaign and claiming a perk are not the same as buying an item online. Instead, supporting a crowdfunding idea on a platform like Indiegogo means you are helping a work-in-progress project, idea or cause and it is solely up to the campaign starter whether or not they want to encourage donations by offering Perks.
But like anyone getting in on an early-stage project, you accept the risk that the project may experience changes, delays, unforeseen challenges, and it's possible that a project you fund might not come to fruition. In these cases, Indiegogo leaves it entirely up to Backers to make their own judgments about a campaign’s merits before making a contribution.
Unfortunately, Indiegogo doesn't provide prospective Backers with any means to contact campaigns to ask questions or make suggestions before they decide to participate, so all Backers really have to go on before supporting a project is the information on the Indiegogo campaign page or by doing research externally from the platform.
In cases where campaigns fail to raise their target amount, Indiegogo campaigners and entrepreneurs have the option of either refunding all money to their contributors at no charge or keeping all money raised minus a 9% fee. This option must be selected before the campaign begins, and the goal will be listed, directly underneath the amount raised, as Fixed (only receive funds if goals is met) or Flexible (will receive funds even if goal is not met).
On the other hand, if you have a product, idea, or event for which you want to crowdfund capital, simply head on over to Indiegogo’s Entrepreneurs page and click on Start a Campaign. From there, you can download Indiegogo’s complete Guide to launching a crowdfunding campaign on the platform.
Indiegogo makes its revenue by charging a five percent (5%) Platform Fee on all funds raised for each campaign—which it collects from the campaign starter. Fees are calculated and deducted from the funds actually raised (not the goal set). Their payment processor also charges a processing fee that varies according to the campaigner’s location and currency.
If you are in Indiegogo’s InDemand program and ran your campaign on Indiegogo, your platform fee remains 5%. However, if you ran your first campaign on another platform before joining the InDemand program, your platform fee is 8%.
Moreover, each contribution a campaign receives is subject to a Transaction Fee charged by Indiegogo’s payment processor, Stripe where credit card processing charges 3% + $0.30 per transaction (in the US). Transaction fees depend on the location of your bank account and the currency in which you raise funds. There may be additional fees charged by the credit card networks and payment processors if contributions are made via a non-local credit card.
Finally, Transfer Fees, or Bank Delivery Fees, are also applied each time Indiegogo sends funds to the campaign’s bank account.
Indiegogo is the only crowdfunding platform where you have the option to keep all your funds even when your campaign does not reach its goal. ChooseFlexible Funding if any amount of money will help you reach your campaign objective and you'll still be able to fulfill your perks. Flexible funding is suitable for almost all the campaigns on Indiegogo where you get to keep all funds, even if you do not meet your goal.
Project launchers deciding to choose Flexible funding are expected to be transparent, communicative, and thorough with the scope and concept of their campaigns as a way to motivate Backers into contributing and to ensure their support is translating into palpable results.
For campaigns with a strict go/no-go threshold, project starters can choose to run a Fixed Funding campaign instead. With a Fixed funding campaign, you only keep the funds you raise if you meet your funding goal. If your campaign does not meet its goal by its deadline, all your backers will be refunded by Indiegogo within 5-7 business days.
Fixed funding is suitable for those whose campaign objective requires a minimum amount of money to be accomplished, and if perks cannot possibly be fulfilled without raising the full goal amount.
Campaigns should choose their funding structure wisely, as it cannot be changed once formally launched. Also note that the minimum goal amount for a campaign, regardless of whether you choose fixed or flexible funding, is 500 (USD/CAD/GBR/EUR/AUD).
Is It Time to Buy?
The perfect place to discover unique ideas, revolutionary concepts, and innovative products; Indiegogo gives big dreamers/thinkers and small investors/supporters alike a chance to get together and incubate a product every step of the way to success in the market. But whether or not an Indiegogo campaign meets its goal, the platform remains a great way to discover, inspire, support, and forge a community of creativity.