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Crowdfunding

Posted: Sun Jul 25, 2010 10:10 pm
by Sam Fraser
Politicians do it. Charities too. And now for-profit entrepreneurs are tapping the Internet to get small amounts of money from lots and lots of supporters. One part social networking and one part capital accumulation, crowdfunding websites seek to harness the enthusiasm--and pocket money--of virtual strangers, promising them a cut of the returns.

http://www.time.com/time/magazine/artic ... 68,00.html

One early and successful example is "The Million Dollar Homepage":

...conceived in 2005 by Alex Tew, a student from Wiltshire, England, to raise money for his university education. The home page consists of a million pixels arranged in a 1000 × 1000 pixel grid; the image-based links on it were sold for $1 per pixel in 10 × 10 blocks... Launched on 26 August 2005, the website became an Internet phenomenon...On 1 January 2006, the final 1,000 pixels were put up for auction on eBay. The auction closed on 11 January with a winning bid of $38,100 that brought the final tally to $1,037,100 in gross income.

http://en.wikipedia.org/wiki/The_Millio ... r_Homepage

Many indy filmmakers are now using crowdfunding to raise e.g. the dystopian sci-fi "36 Stairs":

http://www.kickstarter.com/projects/933 ... tairs-film

Quite amazing for only $7,000.

Could anything space-related be crowdfunded, realistically?

Posted: Mon Jul 26, 2010 10:23 pm
by joertexas
[quote=""Sam Fraser""]
Could anything space-related be crowdfunded, realistically?[/quote]

We could offer to take a plaque to the moon with everyone's names on it...

JR

"can we do it?" "put a man on the moon in 9 years? yes. Absolutely. We have to."

Posted: Fri Feb 24, 2012 7:40 pm
by Engineer
well, obviously, it isn't repeatable at the same success rate. But this site and this project needs funding. and lots of it. It would be nice if we could do this without having to go through NASA, investors, money grubbers, and the like. donations are a simple matter really.
The steps to success(where haven't I heard that before?)
1: Create a surge of new members and create a huge interest amongst the populace
2:Have a clear mission goal so no one gets confused where their money goes.
3:Create some type of competition for later mission plans
4:start fulfilling the promises.
The first step is the hardest, most time consuming thing. Its like getting a fan base for a ice cream stand. advertising is not the answer, though might sightly help. we need to become a publicly known project in order to get a publicity base. we need to show the people that we arn't fooling around. we need to start getting the medias attention. advertisements are those things about animals in bad areas, or the lizard walking around for car insurance. its an area that people shut out and try their best not to listen to. but the news people do listen to. Our population has exceeded the 310 million mark. not every one donates, but there are outliers. People willing to believe in this are willing to spend upwards of several thousand dollars. Uniting the projects like artimus and the teams working on the lunar X prize would be a definitive step in the right direction and create a broader base for public support.
:cool:

Posted: Mon Mar 05, 2012 12:10 pm
by sgeos
I'm fascinated by crowd funding. This is what I seem to recall reading:
  1. There seems to be a monetary limit for successfully crowd funding "normal" projects. Humanitarian projects have an easier time getting funded, and can command larger dollar figures.
  2. You can pull massive dollars if people want your perks. The Order of the Stick Reprint Drive raised $1,254,120 for a $57,750 goal selling low priced perks. Printerbot raised $830,827 for a $25,000 goal selling $500 ~ $700 3D printers.
  3. $25 perks raise the most aggregate money. Expensive perks can contribute significant dollars. Cheap perks do not amount to much money, but they can help spread the word.
  4. Keeping campaigns personal is important. This goes for rewards and promotion.
  5. Promotion is a job. If you intend on being successful, it is probably going to be a full time job. Update often, preferably every day.
  6. A good pitch video is very important. People need to see the promoter's face.
  7. A longer campaign is not necessarily better. Evidently ~70 day campaigns work best.
  8. The first donation establishes credibility. The first 10% toward your goal cements credibility. It is probably a good idea to have 10% of your goal in pledges before you start so that you can hit 10% on the first day.
  9. It is a good idea to donate to your own campaign in a visible way.
This is how I would run a campaign:
  1. Make sure I can devote a solid 70 days to run the campaign.
  2. Create a solid pitch video.
  3. Line up at least 10% of the goal in pledges before starting. (The goal may be too ambitious if I can't line up 10%.)
  4. Create a solid list of personalized perks.
  5. Create perks for at least the following amounts: $1, $5, $10, $25, $50, $100.
  6. Donate $25 to my own campaign.
  7. Promote all day every day for 70 days.

great idea

Posted: Mon Mar 05, 2012 3:16 pm
by Engineer
here here. I never thought of selling "perks" before. I rather like that idea. perhaps we can also get big sponsors after showing them we are committed to raising the dough. (also should mention that setting the goal too high (like 150 million) could make some people think its a waste of time and not donate at all. put something in the "fine print" that says this is for this part of the mission. that is, separate each part of the mission's materials like the engines, the excavator, the fuel, the boosters for the falcon (est cost) all that. divide those into manageable amounts that people will see and be willing to commit to.) but back to the sponsors bit, imagine the money some one would be willing to give us if we put their sticker in the main (or secondary) camera's range. like near the bottom of the picture, or better yet, on the bucket of the excavator. so when it rolls off the people will be able to see the sponsors and all that (race car drivers do it all the time) and even though it would be anti climatic, it would give us a good extra boost. remember the million dollar mural? think like that but on the back of the excavator bucket :) I think that would top the million dollar mural easily. and whats the cost to us? the weight of a peel able sticker :D
:cool:

Posted: Mon Mar 05, 2012 6:12 pm
by joertexas
That's what I'd like to do, too. Race cars have stickers, and we have an orbiter, a lander, a backhoe, a solar panel trailer, four scouts and a comms relay rover to plaster stuff onto.

Also, since the equipment is mostly teleoperated, we could "rent" driving time on a couple of the scout rovers for large contributions. Sign into our website and drive on the moon!

JR

Imagine a big coke a cola sticker

Posted: Tue Mar 06, 2012 5:01 pm
by Engineer
does any one know what the costs for this could be? has there ever been a sponsorship in space before? surely on the shuttle, but ever on the moon? this could one of the big pots of money we need. seems every thing we can plan is after we get the flux of people. we need to start thinking publicity and seriousness.
:cool:

Posted: Tue Mar 06, 2012 6:58 pm
by joertexas
[quote=""Engineer817""]does any one know what the costs for this could be? has there ever been a sponsorship in space before? surely on the shuttle, but ever on the moon? this could one of the big pots of money we need. seems every thing we can plan is after we get the flux of people. we need to start thinking publicity and seriousness.
:cool: [/quote]

This is Logan Knox's area of expertise...

JR

Posted: Wed Mar 07, 2012 3:58 pm
by sgeos
Remember that normal folks are the crowd, and they generally can not afford $1,000~ perks. Obviously, something like a 3D printer is an exception, but the point is that perks need to be aimed at the people next door or the kid in college. Also, remember that supplying perks may be expensive.

It looks like the open source ecology project started with something like a $40,000 Kickstarter campaign. They raised $63,573. They have switched to a "true fan" funding model. A "true fan" is someone who has signed up to give them $10 ~ $100 every month for the next 24 months. It is kind of clever.

A $15 million crowd funding campaign will fail. If it is broken up into manageable parts ($5,000 ~ $50,000?), no sub project is outright doomed to fail. Each will succeed or fail based on its merits and management. A track record of success should make future funding easier. It will also make it easier to get non-crowd funded dollars.

Unless something like cars are your perks, $10,000~ perks do not realistically have a place in a crowd funding campaign. Solicit those funds elsewhere, but think of the crowd funding as advertising.

Posted: Wed Mar 07, 2012 5:09 pm
by Sam Fraser
Hi sgeos and Engineer817, I'm following these new posts to an old thread with keen interest. This is worth brainstorming and pursuing further.