Indiegogo and kickstarter: crowd funding innovative technology and ideas for libraries

Indiegogo and kickstarter: crowd funding innovative technology and ideas for libraries

Keywords:Ideas, New technologies, Academic libraries, Public libraries, Library outreach, Crowd funding
Abstract:Indiegogo and kickstartercrowd funding innovative technology and ideas for libraries Indiegogo and Kickstarter are the stars of crowd-funding platforms for products with innovative technologies that are looking for funding to move to productionProviding funding for these products carries with it some risk that the product may never come to marketEach product has a target that the entrepreneurs need to reach to move to production but in some casesif that earmark is not reachedfunders may lose their moneyI know from firsthand experienceButthere is an advantage in that earlyand in many cases laterfunders are given incentives of much lower prices than what the product is likely to sell for when producedSoone needs to consider if the benefits outweigh the risksIt is also risky in that a productonce developedis problematic and does not perform as advertised and can also lead to disappointment to fundersagain I have had this experienceIf already availablethere may be a blog of early supporters with their impressionsThere are some other clues that can help one to make the right decisionFor exampleDoes the entrepreneurscompany have a track record of success with other productsand are there similar products that have a higher number of backers or even products on the market that are currently available and have gotten positive reviews that are good enough and can meet ones needsSome individuals even just provide contributions to help campaigns reach their funding goalsEarly purchases frombackersare offered several perksearliest purchasers get the best limited perksIndiegogo appears to be the site for innovators to useas they have a huge display space for products at Eureka Parknew start-upsat the annual Consumer Electronics Showanother place to find potential fundersSowhat is in it for librariesFirsta product can demonstrate that the library is on the cutting edge of technology creating great publicitySecondthe product may fit a niche in outreachinstruction or use in library makerspacesThirdwhether or not you or your library eventually purchases the productit may stir other ideas you may not have even thought of before in terms of applications and servicesFinallyjust maybeyour library convinces the individual or company developing the productof its potential use for the library marketplace and request to test the product as a case study that can be used in promotional materialsBelow are some of the offerings that carry less riskhaving reached their funding targets to begin production as well as my thoughts of how they might be used by librariesLibrary AutomationDiscuss how to use new products or technology to improve the process or service of the libraryConsulting ServiceUse new technology products to provide better user services The article mainly explores the risks and rewards of crowdfunding platforms such as Indiegogo and Kickstarter