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Indiegogo Rolls Out Enterprise Crowdfunding

Indiegogo Rolls Out Enterprise Crowdfunding

By Gadgets 360 Staff | Updated: 7 January 2016 13:35 IST

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Indiegogo has announced a move towards enterprise crowdfunding. The idea is that big companies should be able to create crowdfunding campaigns to gauge customer interest in new products before a large scale rollout. So far, crowdfunding platforms like Kickstarter and Indiegogo have typically been used by startups and new firms to raise the capital for new ideas that they would not be able to build without the funds, but as these platforms have become more and more popular, they are also being seen as a form of validation for new products.

Perhaps that's why Pebble, which had already established itself after the first Kickstarter project to back the smartwatch, went back to the crowdfunding platform for the launch of its second device, the Pebble Time.

Indiegogo's Enterprise Crowdfunding will help formalise the process for companies that want to take part on the platform, and could allow them to experiment with more niche products and designs that might not get through the planning phase in the normal way of working.

On its page, Indiegogo states that Enterprise Crowdfunding will help companies to test out new ideas, understand customers better, and build their brand. Brands that are already on board include Hasbro, Harman Kardon, GE, and Shock Top. So GE for example has used Enterprise Crowdfunding to market its Paragon Induction Cooktop and Opal Nugget Ice Maker, raising $3 million (approximately Rs. 20 crores) across the two projects.

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Further reading: CES, CES 2016, Crowdfunding, Enterprise Crowdfunding, Indiegogo, Kickstarter