Inventors Can Use Crowdfunding To Get Their Ideas Off The Ground And Into Market
If you have an invention idea but you don't have the capital to invest in bringing it to market, crowdsourcing could be the resource you've been looking for.
Crowdsourcing allows you to use online forums, such as Kickstarter or Indiegogo, to attract funding and investment in your product.
Crowdsourced funds account for hundreds of millions of dollars per year - there is money out there.
The process of crowdsourcing involves asking an online audience to donate money toward your invention or project.
For example, if you need $10,000 to hire a prototyping firm to help model your invention, crowdfunding can help you raise that money without you needing to solicit another aunt, uncle, cousin or brother. You simply find a crowdfunding platform, set the goal amount, set the deadline, and indicate any rewards you'd like to offer to those who donate to your invention.