CityRealty Insider > Funding Site Helps Creative Ideas Take

Funding Site Helps Creative Ideas Take

FEBRUARY 9, 2010

“Micropatronage” website Kickstarter is a new way of funding small business start-ups and creative endeavors.

It’s hard enough to be an independent artist or a fledgling business with a great idea. An economy with little wiggle room for well-intentioned generosity can hinder future success. Kickstarter, a recent start-up from a pair of Brooklyn-based arts promoters, uses an “all-or-nothing” strategy—the desired funding level must be reached or no money changes hands—to keep expectations realistic and increase the imperative to really get the word out to friends, family, fans, Facebookers and other potential patrons.

In addition, it’s a great way to offer patron-investors incentives and rewards—like signed copies, VIP tickets and limited-availability merchandise. From record labels and bands to magazines and books, Kickstarter projects have brought funding to folks who would have otherwise had a tough time mobilizing the internet masses. It’s also a great way to fund local projects, as it can help you appeal to community pride when your project—like “Today New York, Tomorrow the World,” a large-scale painting by Brooklyn artist Brian Hogan, who raised $7,167 through Kickstarter—helps a local cause or brings something of value into the community.

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