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An introduction to
  crowdfunding   Tim Stansky
                 @timstansky
               November 2012
This presentation offers an
overview of crowdfunding with an
 emphasis on the rewards model
       and a case study of
  “Crowdfunding Innovation”, a
 special Mass Innovation Nights
              event.

  When the JOBS Act is in full
 swing there will be lots of room
         for “teachable
 moments”, unsavory types, and
            success.
What is crowdfunding?
A tool that gives entrepreneurs the opportunity to attract a
pool of people via social media or shared interests in order
to contribute to a funding target that has been previously
established by the entrepreneur. (11/6/12 Forbes article
link)



The JOBS Act
The Jumpstart Our Business Startups Act or JOBS Act, is a
law intended to encourage funding of United States small
businesses by easing some securities regulations. It
passed with bipartisan support and was signed into law by
President Barack Obama on April 5, 2012. (link to
legislation)
Current Models




Rewards   Equity   Lending   Donation
Protect orphans and widows
How Much Can I Invest?
Everyone can invest at least $2,000/year.

If an investor makes less than $100,000/year or have less than
$100,000 in assets, they can invest 5% of that each year.

For example, if I make $80,000/year, I will be able to invest
$4,000/year in startups.

If an investor makes less than $200,000/year or has less than
$200,000 in assets, they can invest 10% of that each year.

For example, if I make $150,000/year, I can invest $15,000/year
in startups.

If an investor makes more than $200,000/year they are
considered and accredited investor, and can basically invest as
much as they want.
Platforms
This is nothing new.                           Joseph Pulitzer’s
                                                 crowdfunding
                                             campaign generated
                                               an awe-inspiring
                                            $100,000 in five short
                                            months through micro
                                             donations. The most
                                             incredible aspect of
                                             his campaign is that
                                               the over 120,000
                                              donations were in
                                            most cases less than a
                                                    dollar.




             (Statue of Liberty crowdfunding story link)
Panel Conversation moderated
by the Boston Business
Journal’s Kyle Alspach with
three Mass Inno alumni who
successfully funded
crowdfunding projects on
Kickstarter: LifeCycle
Bracelets, Memory On
Hand, and Ministry of Supply.
(link to video)

                        The founders of these ventures
                        shared their insight and
                        experience in planning the
                        project, defining project goals or
                        objectives, necessity of
                        preparation, and offered hard-
                        earned advice from lessons
                        learned.
Kingsley Flood

                                        FUNDED!



  6%       FUNDED!         My TV 38 in Feb ‘13



  2%       FUNDED!                 5%



          gaining equity    actively pre-selling
FUNDED!
            followers              orders



 19%      $8k to date              7%
Why are they doing this?


     fan engagement

     pre-sales

     marketing

     SEO, mentions

     hipster factor
Anatomy of a campaign

 the project

 apply to the platform

 designing the rewards

 prep work for launch, video!

 trajectory through influencers

 fulfillment and nurturing
Considerations & sleep loss


 legal and tax issues

 supply chain and fulfillment

 a compelling video

 satisfying 200 equity holders

 can I sell my equity?
Hello from PledgeMusic,
Kingsley Flood posted a new update for Be a part of our new full-
length album:
EPISODE 5: (re)Arranging, or, Saved by the Bell and cats
Alright folks, 60% with 25 days left. Thanks so much…we’re getting
there…but of course we’re not quite there yet, so if you have friends
you’ve brought to shows or just into music, we’d love if you told
them about the campaign. They can pledge as little as $10
(awesome!) or go up to $1,000 (more awesome!).
But since you all are already champs, enough chit chat.
Instead, you get this week’s video from the studio.
This is Episode 5: (re)Arranging. It explores what happens when we
start off not excited about a song, and end up very excited about it.
Lots of things contributed to this: a cocktail party, tubular
bells, Saved by the Bell, etc. The thing we’re probably most excited
about is the shirt Nick wears while he narrates this. And the special
relationship he has with his cat.
Thanks for watching, pledging, being, etc.
This update includes: 1 video and 3 images.
View the full update.
Loving your work. Team Pledge
Best ways to learn
    back a project and go
      for the ride

    www.bit.ly/CIyoutube

    Follow projects on
      Twitter

      Tim Stansky @timstansky
www.wickedbostonaccent.wordpress.com

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Crowdfunding Basics

  • 1. An introduction to crowdfunding Tim Stansky @timstansky November 2012
  • 2. This presentation offers an overview of crowdfunding with an emphasis on the rewards model and a case study of “Crowdfunding Innovation”, a special Mass Innovation Nights event. When the JOBS Act is in full swing there will be lots of room for “teachable moments”, unsavory types, and success.
  • 3. What is crowdfunding? A tool that gives entrepreneurs the opportunity to attract a pool of people via social media or shared interests in order to contribute to a funding target that has been previously established by the entrepreneur. (11/6/12 Forbes article link) The JOBS Act The Jumpstart Our Business Startups Act or JOBS Act, is a law intended to encourage funding of United States small businesses by easing some securities regulations. It passed with bipartisan support and was signed into law by President Barack Obama on April 5, 2012. (link to legislation)
  • 4. Current Models Rewards Equity Lending Donation
  • 5. Protect orphans and widows How Much Can I Invest? Everyone can invest at least $2,000/year. If an investor makes less than $100,000/year or have less than $100,000 in assets, they can invest 5% of that each year. For example, if I make $80,000/year, I will be able to invest $4,000/year in startups. If an investor makes less than $200,000/year or has less than $200,000 in assets, they can invest 10% of that each year. For example, if I make $150,000/year, I can invest $15,000/year in startups. If an investor makes more than $200,000/year they are considered and accredited investor, and can basically invest as much as they want.
  • 7. This is nothing new. Joseph Pulitzer’s crowdfunding campaign generated an awe-inspiring $100,000 in five short months through micro donations. The most incredible aspect of his campaign is that the over 120,000 donations were in most cases less than a dollar. (Statue of Liberty crowdfunding story link)
  • 8. Panel Conversation moderated by the Boston Business Journal’s Kyle Alspach with three Mass Inno alumni who successfully funded crowdfunding projects on Kickstarter: LifeCycle Bracelets, Memory On Hand, and Ministry of Supply. (link to video) The founders of these ventures shared their insight and experience in planning the project, defining project goals or objectives, necessity of preparation, and offered hard- earned advice from lessons learned.
  • 9. Kingsley Flood FUNDED! 6% FUNDED! My TV 38 in Feb ‘13 2% FUNDED! 5% gaining equity actively pre-selling FUNDED! followers orders 19% $8k to date 7%
  • 10. Why are they doing this?  fan engagement  pre-sales  marketing  SEO, mentions  hipster factor
  • 11. Anatomy of a campaign  the project  apply to the platform  designing the rewards  prep work for launch, video!  trajectory through influencers  fulfillment and nurturing
  • 12.
  • 13. Considerations & sleep loss  legal and tax issues  supply chain and fulfillment  a compelling video  satisfying 200 equity holders  can I sell my equity?
  • 14. Hello from PledgeMusic, Kingsley Flood posted a new update for Be a part of our new full- length album: EPISODE 5: (re)Arranging, or, Saved by the Bell and cats Alright folks, 60% with 25 days left. Thanks so much…we’re getting there…but of course we’re not quite there yet, so if you have friends you’ve brought to shows or just into music, we’d love if you told them about the campaign. They can pledge as little as $10 (awesome!) or go up to $1,000 (more awesome!). But since you all are already champs, enough chit chat. Instead, you get this week’s video from the studio. This is Episode 5: (re)Arranging. It explores what happens when we start off not excited about a song, and end up very excited about it. Lots of things contributed to this: a cocktail party, tubular bells, Saved by the Bell, etc. The thing we’re probably most excited about is the shirt Nick wears while he narrates this. And the special relationship he has with his cat. Thanks for watching, pledging, being, etc. This update includes: 1 video and 3 images. View the full update. Loving your work. Team Pledge
  • 15.
  • 16. Best ways to learn  back a project and go for the ride  www.bit.ly/CIyoutube  Follow projects on Twitter Tim Stansky @timstansky www.wickedbostonaccent.wordpress.com