Crowdfunding is bloomin’ marvellous isn’t it? And if Indiegogo is to have its way, it could be about to take yet another giant leap forward, through its pioneering development of a new ongoing funding scheme.
Thus far, all crowdfunding platforms have offered eager campaigners a splendidly simple proposition - reach your funding target, and the money is yours, fail to reach it and it's not… straightforward, effective and fairly unquestionable.
Could this all be about to change?
Forever Funding via Indiegogo
This new type of crowdfunding campaign will see Indiegogo introduce permanently crowdfunded businesses alongside its existing temporary one-off style offerings.
In an announcement last week Indiegogo detailed the specifics of its pilot programme which will allow a (for now) select group of campaigns to continue raising money after their official deadline, provided of course they have already reached their target figure.
To us this feels like a triumph for common sense. Of course campaigners are delighted to have reached their target, but many must also feel a heavy sense of frustration with the traditional method of crowdfunding. It is quite often the case that the build-up in momentum of a funding campaign is brought to an uncomfortable halt with the arrival of the project deadline, leaving many who might have wished to contribute, unable to do so and campaigners lamenting the extra cash they may have missed out on.
The move represents the most significant differentiation yet between Indiegogo and its closest rival on the crowdfunding circuit Kickstarter, and with both occupying such similar roles within a tight space, we are really surprised that it has taken one of them this long to make a move.
We can't wait to see what happens next.
Oh, and if you have a great idea, project or fab startup, why not add it to our collaboration space where you can get great advice and support from mentors, self starters and investors.
Mi-IDEA Manchester Networking Event
27th Sep 2016
The teams from CISCO and Manchester Science Partnerships have teamed up to create Mi-IDEA, a post-accelerator designed to foster and nurture digital innovation in the North West of England.