When it comes to crowdfunding platforms, Kickstarter is often the first that comes to mind. It’s well-known, widely used, and has helped bring many successful products to market. But for tech hardware products at the prototype stage, there is a better option: IndieGoGo. Kickstarter has strict rules when it comes to the types of projects it allows on its platform. In order to be eligible for funding, a project must be fully fleshed out, with a completed prototype and a detailed plan for how the funds will be used to bring the product to market. Thus, this may be great for projects that are further along in their development, but it can be a major hindrance for early-stage hardware products.
In contrast, IndieGoGo has a much more lenient policy. It allows campaigns at any stage, whether you have a completed prototype or just an idea. This means that tech hardware products at the early stages of development can use IndieGoGo to test the market and gauge interest, without worrying about being rejected for not having a completed prototype. One of the reasons for Kickstarter’s strict rules is that it has been burned in the past by large failures, such as the Coolest Cooler. This project, which promised a cooler with a built-in blender and Bluetooth speaker, raised over $13 million on Kickstarter, but ultimately failed to deliver on its promises. The negative response to this failure, and others like it, led Kickstarter to tighten its policies and focus on more established projects.
However, while Kickstarter’s stricter policies may help avoid high-profile failures, they also limit the types of projects that can be funded on the platform. IndieGoGo, on the other hand, allows a wider range of projects, including those at the early stages of development. This can be especially beneficial for tech hardware products, which often require a lot of experimentation and iteration before they are ready for the market.
If you have a tech hardware product at the prototype stage, using IndieGoGo can be a great way to test the waters and see if there is interest in your product. You can use the platform to gather feedback, refine your product, and build a community of supporters. Plus, since IndieGoGo allows campaigns at any stage, you don’t have to worry about being rejected for not having a completed prototype.
In addition, there are other advantages to using IndieGoGo for tech hardware products. IndieGoGo offers a range of services to help your campaign succeed, such as professional coaching and marketing tools. Plus, it has a dedicated team of experts who are available to answer your questions and provide guidance. These services are designed to help you maximize your chances of success, and they can be a great resource if you need help getting your project off the ground.
In conclusion, if you have a tech hardware product at the early stages of development, IndieGoGo is a better option than Kickstarter. IndieGoGo’s more lenient policies allow you to test the market and gather feedback, while Kickstarter’s strict rules may prevent you from even getting your project off the ground. So if you want to successfully crowdfund your tech hardware product, consider using IndieGoGo. With its lenient policies and range of support services, IndieGoGo can be a great way to launch your product and bring it to life.