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Kickstarter.com is an innovative way to find funding for small business. The site, created to aid artists, has been pegged by emerging, expanding, and struggling small businesses as a creative way to communicate project ideas to potential investors.
The concept is easy. Small businesses create an online profile explaining their project and setting a minimum total needed to fund the project. Then, it is open to the web-surfing public to "pledge" for the project.
The incentive for funders? Project creators can establish creative incentives for pledges including services, invitations to events, exclusive updates.
The creative catch? Small businesses have to identify an expiration date for their project on Kickstarter.com. If the pledges do not meet the minimum funding requested, then no pledges are collected. On the balance, if the pledges reach the minimum, or surpass it, the funding is facilitated by Amazon.com.
If you are like us, you are intrigued. But what kinds of projects have been funded through Kickstarter? Here is a sampling:
Creativity and innovation have always been characteristics of small business success, so it may not be surprising that a website has found a way to harness both, by employing both.