Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Tech News

LaunchLeader: crowdfund your pre-Kickstarter minimum viable product

LaunchLeader recognizes the pain points in crowdfunding and steps in to help you get your idea off of the ground faster.



LaunchLeader is for very very early fundraising

If you are attempting to launch a new company or product, you may have considered using a crowdfunding website to raise capital for your project. But what if you are just getting started, and don’t have a logo, a catchy video, or even a prototype of your product?

LaunchLeader is a new website designed specifically for entrepreneurs in the very early stages of fundraising. The site’s goal is to “increase the success rate of aspiring entrepreneurs by overcoming the biggest drawbacks of other crowdfunding platforms.”

According to LaunchLeader, success stories from other crowdfunding platforms are few and far between, with 90% of campaigns failing. Apparently only 40% of Kickstarter users and 10% of Indiegogo users reach their fundraising goals. And of Indiegogo users, 80% only raise 20% of their total fundraising goal.

Advertisement. Scroll to continue reading.

LaunchLeader solves a major pain point

These dismal statistics may be discouraging, but LaunchLeader offers solutions. They blame, and hope to provide an alternative to, several pitfalls of other crowdsourcing sites.

LaunchLeader doesn’t want to throw the baby out with the bathwater — in fact, the site encourages entrepreneurs to use other crowdfunding platforms after they launch successful LaunchLeader campaigns to create a minimum viable product. The site seems specifically targeted towards entrepreneurs who want to get started, but aren’t ready to incubate their product or seek professional investors.

Strengthen your game where most fail

Many startups fail in the crowdfunding stage, according to LaunchLeader, because they are not adequately prepared and have not done enough to muster up support from their direct community of friends and family. At it’s most basic, LaunchLeader provides startups with an opportunity to work out some of the details of their company and idea before reaching out for larger investments, and to fundraise within their immediate community.

LaunchLeader says that one of the biggest reasons that crowdfunding campaigns fail is because potential donors are overwhelmed by the size of the fundraising goal. LaunchLeader takes a micro-funding approach, asking donors to contribute smaller amounts to particular items, such as tools for marketing or for creating a prototype.

How LaunchLeader stands out

Much like a wedding gift registry, the fundraising campaign includes an itemized list, so that donors can pledge directly to particular aspects of the project. The overall fundraising goal is divided into smaller, less intimidating goals, which results in faster fundraising.

Advertisement. Scroll to continue reading.

Unlike other crowdfunding platforms, LaunchLeader requires users to provide photographs and documentation of the progress of their project, so that donors can be assured that their funds are being used appropriately. Accountability and visibility leads to higher donor confidence and increases the chance that donors will want to continue supporting the project.

LaunchLeader seems like a great place to start for entrepreneurs who want to get the ball rolling on a new idea.

Ellen Vessels, a Staff Writer at The American Genius, is respected for their wide range of work, with a focus on generational marketing and business trends. Ellen is also a performance artist when not writing, and has a passion for sustainability, social justice, and the arts.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.



Tech News

AI tools are rising in popularity and in their complexity, creators say they don't consent to their works being in these AI databases.

Business News

Apple is adding nearly a million square feet to their already giant Austin campus, to potentially seat another 15K employees.

Tech News

Tesla has already invested heavily in moving operations to Texas, so what does this new $770M expansion mean?

Tech News

Facial recognition as a security measure that is fairly dystopian concept to the modern man. Here's why it's not a reliable source.

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.