Crowdlaunch.it focuses on entrepreneurs and innovators who have a fully-built or late stage product or startup and need the funds to bring it to market.
While most people may connect the crowdfunding phenomenon with giants such as Kickstarter and Indiegogo, there's a whole range of budding platforms with a twist on the concept. We've previously seen Singapore's Haystakt let the crowds determine the prices of its crowdfunded goods, for example. Now Crowdlaunch.it is focusing on entrepreneurs and innovators who have a fully-built or late stage product or startup and need the funds to bring it to market.
One of the problems with traditional crowdfunding is that many projects are simply ideas or concepts at the time they ask for backing from consumers. There's an element of risk involved because the products might not ever see the light of day if unforeseen challenges become apparent after the funding it completed. Crowdlaunch.it wants to get consumers thinking more like venture capitalists, only offering up money when the product is guaranteed.
Initially focusing on authors, the site provides a platform for writers with a completed book to help it reach critical mass. Writers may not have the marketing nous to turn their title into a hit, but Crowdlaunch.it helps them raise the cash to do so. Eventually, the site hopes that creative entrepreneurs of all kinds — musicians, indie filmmakers, sportspeople, events organizers and even startups — can help give their late stage projects a boost before they hit the market.
Watch the video below for an explanation of the platform:
Crowdlaunch.it is currently in alpha testing, but hopes to launch soon. Are there other ways that the crowdfunding model can be tweaked to open it up to other, perhaps more unusual projects?