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May

Have a brand new product or project that you think the world desperately needs? Don’t have the funding or investment to pull it off? You could find what you need on Kickstarter.

No it’s not a money lender or a bank. Kickstarter is the world’s largest online funding platform for creative projects. Basically if a user likes your idea they pledge money towards it. In return, if your project comes into fruition you thank your backers with rewards.

Okay so here is how it works. A user will create a page on the kickstarter website for their project. They decide what their project’s funding goal will be(may be $500 or $500,000) and the deadline to which they need the funding by. The project page will then go live on kickstarter.com. People visiting the website can view the project and if they like it, they can pledge money towards it. Any money pledged towards a project will not be taken from the backers account unless the project meets it funding goal before the deadline.

The project creator will set rewards for different pledge amounts. As an example, Katrina, the Mojito Solution’s Director has just created the world’s best coffee (Mojito Coffee…maybe one day). She sets a target of $300,000 to manufacture and distribute it and a deadline for 2 months. She then sets rewards for different pledge amounts. A $5 pledge will get you a thank-you card. A $25 pledge will get you a bag of coffee. A $50 pledge will get you two bags of coffee and so on. Basically you are selling your product before you have even created it. In this way Kickstarter is a great way to test the market. You can see if what you believe is a great idea is going to be supported by others.

Since its beginning in 2009, Kickstarter has funded more than 20,000 projects and raised more than $200 million towards those projects. This project raised 8000% more than it needed.

We think it’s a pretty cool idea, and who knows maybe one day we will create the world’s best coffee. If we did you would back it, wouldn’t you?

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