So, you have a great idea and maybe even an awesome team working on it already! That is an excellent start, however, the often tricky issue of financing your project may be something you have yet to decide on and to have set up for you.
Are you sure that you have the funds to see your exciting project through? If not, then crowdfunding may be something for you to consider.
I’m a composer (get to know me more!) and also a great supporter of indie projects. My work has enabled me to connect with many indie game developers, indie film makers and a wealth of other amazingly talented individuals and teams. One area that is often very challenging from what I’ve seen, no matter what stage you and your project may be at, is ensuring that you have enough funds to keep the development of the ideas and resources going.
From the work that I do, I can see that there are many challenges that one comes across when trying to pull together an indie project. That’s why on my blog I try to help where I can, and so I’ve pulled together this list of interesting crowdfunding sites for you to explore further…
Rewards-based Crowdfunding sites:
This is the probably the most popular crowdfunding site out there. You will receive the amount that you ask for (minus fees), if you hit your target, but it is an all-or-nothing approach. Kickstarter is probably the most well-known of the crowdfunding platforms on this list and thus offers great marketing reach for your project, but there is a risk that you may not get any funding for your project at all, if you don’t reach the specified target.
Indiegogo lets you choose between two funding options: flexible (where you keep what is raised), or fixed funding (all-or-nothing). The fee is 4% if your goal is reached or 9% for flexible funding if your goal isn’t reached. It is less well-known than Kickstarter but does give you the opportunity to make sure that you receive all the money that your supporters have given to your project, should you reach your target or not.
This claims to be the UK’s number 1 crowdsourcing platform and offers both flexible and fixed funding options. Similarly to Indiegogo and Kickstarter, it’s a rewards based platform and so backers pledge money in return for specific rewards.
Patreon is a subscription-based crowdfunding platform. Investors pay a certain amount each month in return for specific rewards set and organised by you. It’s a great option if you want to harness the on-going support for you and your projects.
Ulule launched in Oct 2010 and since then has become the leading European crowdfunding site. They boast having financed over 21k projects and to have over 1.9 million members worldwide. They offer personalised coaching for all projects – before, during and after each campaign, and swear by this approach. They’re all about enabling creative, innovative and community-minded projects to test their idea, build a community and make it grow.
Equity-based Crowdfunding sites:
Seedrs is an equity crowdfunding platform, meaning that supporters of your project are investing their money in return for a percentage of your business. The platform lets you choose how much equity is on offer and you have 60 days to raise the investment. You also get access to mentorships, networking and more. The ethos is around offering support before, during and after fundraising.
With over 500,000 members, Crowdcube claims to be Europe’s leading equity crowdfunding platform. You can select your preferred fundraising option – of equity or mini-bonds, and then start pitching to investors. You can share videos, a business plan and details about why you’re seeking funding for your project.
Fig advertises itself as a community funding and publishing platform for indie game developers. I’ve put this one in the ‘other options’ section as it offers both the usual rewards-based crowdfunding option but also lets you earn returns from game sales. So investors can invest in the game title in return for a share of the profits.
Launcht is a white label crowdfunding and crowdvoting platform which enables you to crowdfund on your own website. If you have a strong brand and following already, then you may want to explore going it alone! This option will definitely not be for everyone but it is one to be aware of if you feel confident enough in your following to use it.
Thrinacia is a platform that enables you to set up your very own crowdfunding website. They describe themselves as delivering the next generation of CrowdFunding tools and essentially let you create CrowdFunding Portals so that you can run your own set of campaigns however you wish to.
Some of these sites you may already be aware of, but it can be useful to explore all of the options available to you when it comes to crowdfunding and also any other funding opportunities for your project. Combining options can also work well rather than relying solely on one of these to work for you, so get creative, do your research and make sure that you pick the right funding source for you and your project.