Kickstarter

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Questions:

  1. Campaigns are often looking for a lot of support. Is it against the policy if a kick-starter gets accepted to both Kick Starter and Indiegogo campaigns? If not, what does Kick Starter do to prevent this from happening, or how do you catch them?
  2. Indiegogo and Kick Starter are both very similar businesses. Are there any queues to users to pick one between the two? What are the differences between the two companies?
  3. Kick Starter has many campaigns running that needs crowd funding. How does the tracking system for each of the start-ups work? How many people are involved?

Summary:

The class arrived at Kickstarter and was brought inside to see the workspace. While looking around, we saw Eleanor from Shapeways Factory, who hosted our tour the day before.

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We were then guided into their theatre room where our host, John, spoke about Kickstarter. He explained that the company has been around for at least six years, and their incentive is to help people realize their business. Their motto, company, project guidelines, and integrity differ from Indiegogo. He describes the business as a for-profit organization, but they do it with a cultural sense. Kickstarter, similarly to Indiegogo, speaks of start-ups being transparent and honest. They do not tolerate any businesses that have hidden intentions.

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John also gave the class a few tips on how to start a start-up, and some success stories that happened with them. Some of these tips included: stay away from ego, commercialize well, focus on and show audience how it would fit people’s lives, and get feedback. John ended the presentation with telling us that Kickstarter is not really a place to start companies, but they genuinely help people gather and start an idea. The class ended the visit with Q&As until John left for his next appointment, where we then headed out to our next location.

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Personal Reflection:

Before arriving at Kickstarter, I expected Kickstarter to be the same as Indiegogo. It is hard not to compare the two companies since they both carry out the same tasks to help people with their campaigns. Even though at this moment I find them highly similar, there are differences between the two companies. Disregarding the differences that were set out by Kickstarter, one of the biggest difference to me is that Indiegogo seems to be more about helping people start their ideas and potentially make them into businesses. Throughout Indiegogo’s presentation, Steve Tam explained a lot about how to create a successful business and startup. Meanwhile, John explains that Kickstarter is not a place for companies to start a place to start a company. This brings a bit of light to both of the companies’ mottos, where Kickstarter is more for helping people with the idea, while Indiegogo tries to make the idea successful.

Relevant Links: www.kickstarter.com