Crowdfunding Fundamentals with Kickstarter

Speaker: Oriana Leckert

Moderator: Natalia Antelava


December 8th, 2020, 16:05-16:40 CET


Written by Anuar Satmurzin


Keywords: Audience, Funding, Story, Backers, Platforms


Short annotation, summary

The professional growth, more significantly its influence and career advancements, are seen as hallmarks of Kickstarter's impact on creative individuals. Likewise, crowdfunding platforms like Kickstarter help individuals to make a long-lasting impact on society and culture. Thus, Oriana Leckert attempts to make an insight into the fundamentals of crowdfunding.


The project or approach to be discussed in the session

Speakers will discuss in the session the fundamentals of crowdfunding including the schemes for people to present and promote their ideas, the ways to engage an audience, choice of suitable platform, and setting goals.


Evidence of impact

One of the possible ways to observe the impact of crowdfunding is to analyse the creation of a community around the project. One of the examples that were mentioned during the discussion is the radio-station for refugees that helped them to express their concerns and ideas.


Limitations, risks of the approach provided by the speaker

One of the possible limitations of crowdfunding through the Kickstarter provided by the speaker refers to the non-profitable goal of the Kickstarter, namely 'Kickstarter is public benefit corporation (16:23), so it cannot prioritise profit over mission' (16:24). Another possible limitation refers to the technical factors of Kickstarter, namely the project receives money only after the donate goal has been reached.


Takeaways

1. It is not a charitable giving but a project that has a goal to engage people so that they can donate for the benefit of the public.

2. More people behind the Kickstarter project are concerned about the 'funding' part, so they forget about the 'crowd' part which is engaging the audience.

3. The benefits of crowdfunding include the opportunity to tell the story of a creative journey, build enthusiasm for work, connect deeply with the community, raise profile in the industry and get direct access to supporters.