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Crowdfunding: Crazy Money?

It’s not easy for entrepreneurs to secure capital these days – at least that’s the received wisdom. But tell that to the American inventors of the Pebble E-Paper Watch, a customisable, smartphone-synching timepiece that launched last year. Seeking a modest $100,000 of investment, the team wound up scoring a whopping $10.3m. In a month. Another example to hit the headlines recently is the Ubuntu Edge smartphone, which gathered funding pledges in excess of $10m in an equally short time. However, with a target of a whopping $32m, it was ultimately unsuccessful. Unlike the Pebble Watch, which you can now buy. RRP $150. Stop the clock! What mythical cash pot is this, you may wonder, that happily doles out 100 times the requested amount at a time when you’re more likely to encounter a hog on a hang-glider than to secure a decent bank loan? Welcome to the wacky world of crowdfunding, and to kickstarter.com in particular, a virtual Dragons’ Den for the social media generation. Thanks to Kickstarter, the creators of the Pebble Watch were able to present their prototype to potential customers directly and solicit donations to fund production up-front. Welcome to the wacky world of crowdfunding, and to […]

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