Kicking off with Kickstarter.com

Finding funding to help develop new innovative solutions is the most common challenge for entrepreneurs. The traditional funding sources such as angel investors or early stage venture capital firms can demand significant equity stake in return for small investments. Alternatively, they may choose to pass up on specific opportunities that do not meet their criteria either in terms of potential markets or rates of return.

This sometimes left innovators with little option other than to bootstrap their projects by pooling together small loans from friends, family and more often than not high interest credit card debt.

Kickstarter is an innovative platform that breeds other innovations.

It provides a platform for entrepreneurs to pitch their idea to the public at large. Those in the crowd who like the idea can then support it through small donations. The entrepreneur may in turn promise such supporters anything from a note of thanks to the final version of the product at a reduced price (often free).

The product campaigns typically last for defined periods of time and have defined fund raising goals. If the fundraising goal is not met, then none of the supporters get charged and are free to support other ideas with the same dollars. This helps ensure that you do not back ventures that don't have enough support (i.e. prevents your money from being wasted).

I would not be surprised if one day, an inspired entrepreneur chose to use Kickstarter to raise sufficient funds to out-innovate Kickstarter -leading to Kickstarter's eventual demise.

Such a failure would be the ultimate & final proof of Kickstarter's success.

My friends, go forth, explore, be inspired and eventually raise your funding at Kickstarter.com