Motley Fool Money A Marketplace of Ideas
Jul 16, 2023
Becky Center, CEO of Indiegogo, shares insights on how crowdfunding empowers entrepreneurs. She reveals how tough lending conditions fuel a surge in new business ideas. Center discusses what drives backers to support campaigns, often valuing rewards over equity. Additionally, she explains how crowdfunding acts as a testing ground for innovations, predicting trends before they hit the mainstream. Listen to her thoughts on the growing interest in eco-friendly transport and unique glamping projects, showcasing the evolving landscape of entrepreneurship.
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Bombas Success Story
- The underwear company Bombas started on Indiegogo over a decade ago.
- Last year, Bombas was acquired in a deal valued at $400 million, demonstrating Indiegogo's potential to launch successful businesses.
Prove Interest with Indiegogo
- Use Indiegogo to demonstrate market interest and gather data before seeking VC funding, similar to how entrepreneurs on Shark Tank showcase existing traction.
- Early success on Indiegogo can strengthen your pitch to investors.
Crowdfunding in Tight Funding Environments
- Tighter funding environments lead to increased entrepreneurship, both from individuals pursuing passions and established companies seeking alternative funding.
- Crowdfunding offers a lower-risk way to test new product lines and gauge market interest before full-scale production.