This Crowdfunding Community Encourages User Participation
Alyson Wyers — March 18, 2015 — Business
Ideal for inventors, makers and tinkerers, Quirky is a crowdfunding community and platform. Described as one of the top fundraising sites by Forbes, Quirky enables hands-on creatives to collaborate and contribute financially. In addition to leveraging donations to make a product a reality, it also encourages engagement among its like-minded users.
Members of the crowdfunding community begin the process by submitting an idea. People can vote online for the thousands of submitted ideas and help inventors to make their ideas better. Quirky holds a weekly ritual every Thursday where their team debates the best ideas of the week. People can watch live as it all goes down at HQ in New York. This is the process by which they determine which projects will get worked on.
Members of the crowdfunding community begin the process by submitting an idea. People can vote online for the thousands of submitted ideas and help inventors to make their ideas better. Quirky holds a weekly ritual every Thursday where their team debates the best ideas of the week. People can watch live as it all goes down at HQ in New York. This is the process by which they determine which projects will get worked on.
Trend Themes
1. Crowdfunding Communities - Opportunity for platforms that facilitate collaborative funding and user participation in product development.
2. User-driven Innovation - Opportunity for platforms that enable inventors to receive feedback and improve their ideas based on user voting and engagement.
3. Live Voting Rituals - Opportunity for platforms that host live events where ideas are debated and selected for development based on user voting.
Industry Implications
1. Crowdfunding - Opportunity for crowdfunding platforms to incorporate more user engagement and collaboration in the fundraising process.
2. Product Development - Opportunity for product development companies to adopt user-driven approaches and incorporate feedback from online communities.
3. Event Hosting - Opportunity for event hosting companies to create live voting rituals and debates where ideas are selected for further development.
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