Crowdfunding has revolutionized the electronics product market by allowing creative designers, from individuals to big companies, to gauge interest as well as get the dollars needed to get their products into the hand of customers. As an unintended consequence, though, is that some crazy and curious products are being offered (and snapped up) by potential consumers.
In 2017, crowdfunding of products (as opposed to equity or lending crowdfunding) accounted for $919 million in transactions in the United States alone, according to Statistica. Meanwhile, worldwide transactions will account for $9.4 billion in 2018, the company predicted. Over the next five years, the market is expected to grow by a compound annual growth rate (CAGR) of 11% to reach $1.5 billion by 2022 in the United States and 29% CAGR worldwide.
For the product inventor, the benefits are clear. It’s a quick route to funding, getting real investments into the hands of the inventor in weeks or months rather than years. Further, it provides an avenue for women and people of color (two groups that get less attention from venture capitalist) to get noticed by the general public. Of course, it’s a gamble: but those that get the votes have a clear path to a successful product launch.
We scoured two leading crowdfunding sites (Kickstarter and Indiegogo) to find the most wildly different products that are recently funded or on offer now. Some go the extra mile to help those who need a little special assistance. Others provide pampering in ways that you may never have considered. A few add a unique feature to a familiar product. All of them got a vote of confidence from crowdfunding investors.
Click on the image below to start a slideshow of some standout offerings from all over the world. Take a look and then let us know in the comments section below which you think are the best ideas you’ve seen. Got other nominations? Let us know that too.
— Hailey Lynne McKeefry, Editor in Chief, EBN