By Catherine Austin Fitts
Kickstarter is the largest platform for crowdfunding creative projects. Since starting in 2009, Kickstarter has helped to raise over $1.3 billion for 71,350 successfully funded projects.
The US micro-equity and venture markets are still waiting for the Securities and Exchange Commission to publish regulations implementing provisions of the JOBS Act to permit the sale of securities through crowdfunding portals. In the meantime, foreign portals are growing as are US online platforms such as Kickstarter that finance entrepreneurs through gifts and pre-production orders.
One of the attractions of crowdfunding is that it provides access to funding and support for many people who have traditionally been shut out of capital raising avenues: artists, geeks, documentary makers and – you guessed it- women. A recent academic study reported in WSJ shows a high participation rate of women both funding and leading successfully funded projects on platforms such as Kickstarter and Indiegogo.
This week on The Solari Report, I will speak with San Francisco Bay Area nutritionist and chef Karen Wang Diggs about her highly successful kickstarter project Kraut Source. Karen is a chef with extensive experience both in North America and Asia as well as a gifted entrepreneur with a knack for helping busy people combine good health and fresh, delicious food.
Karen and her partner launched their campaign to raise $35,000 to launch Kraut Source – kitchenware for making fermented foods like sauerkraut and natural pickles. Kraut Source blew by their goal, raising $184,133 from 3,355 funders. (I was one) That is quite a customer base with which to start a business! Karen just returned from the New York Maker Faire where Kraut Source was one of five successful projects highlighted by Kickstarter.
Should you consider crowdfunding? How do you do it? What works and why? Karen and I will walk you through the ingredients to her success. Send or post your questions!
In Money & Markets this week I will discuss the latest in financial and geopolitical news.
In Let’s Go to the Movies, here is “The Art of Asking,” Amanda Palmer on her philosophy as performance artist and attractor of global crowdsourced support.
Talk to you Thursday!