How A Crowdfunding Failure Can Have A Happy Ending

There are more tears shed over crowdfunding than there are popped champagne corks. Not everyone’s big idea can attract capital. But coming up short on the cash front doesn’t necessarily mean it’s time to toss your dreams out the window. College undergrads and twin brothers Max and Zach Zitney had an interesting idea that they felt could make a compelling product. It was a simple ring to be worn on a single finger that would vibrate and light up when you receive a phone call or notification using Bluetooth wireless technology. Called MiRing, the concept was born while the Zitney twins were members of the Business Builders Club at Ohio State University, a group that teaches entrepreneurship. During the club’s November ‘Idea Pitch’ – a concept session before a panel of local investors – the Zitneys brought forward their idea for a vibrating ring. Of the seven groups pitching, the two came in third and won $500 and filed a provisional patent that same month. Max and Zach, both 21, enlisted the help of university student program coordinator Krystal Geyer to help them guide their development and had OSU industrial designer Erika Braun create a conceptual rending of their ring product. Next […]

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