Forever Funding Removes Deadlines for Successful Indiegogo Campaigns
Alyson Wyers — September 18, 2014 — Pop Culture
References: go.indiegogo & techcrunch
In an effort to help successful Indiegogo campaigns maintain engagement with their contributors, the crowdfunding platform recently announced they would be launching a pilot program to remove deadlines. Dubbed Forever Funding, this program will let innovators fundraise indefinitely in the name of democratized funding. This will apply specifically to projects that have already reached their goals and want to continue to raise finances.
The initial phase will apply to select successful Indiegogo campaigns including Tens (a real life photography filter) and TrackR (an extremely thin item-tracking device). If its first run works well, it is conceivable that any goal-hitting project could remove its end date. This feature also distinguishes Indiegogo from its main competitor Kickstarter, which still reinforces a fixed funding deadline regardless of goals being reached.
The initial phase will apply to select successful Indiegogo campaigns including Tens (a real life photography filter) and TrackR (an extremely thin item-tracking device). If its first run works well, it is conceivable that any goal-hitting project could remove its end date. This feature also distinguishes Indiegogo from its main competitor Kickstarter, which still reinforces a fixed funding deadline regardless of goals being reached.
Trend Themes
1. Forever Funding - Crowdfunding platforms can explore the potential of launching evergreen campaigns that remove funding deadlines.
2. Democratized Funding - Creating more opportunities to democratize funding can increase access to capital for innovators and disruptors.
3. Flexible Crowdfunding - Crowdfunding platforms can offer flexible funding options, such as removing deadlines, to better serve successful campaigns.
Industry Implications
1. Crowdfunding - Crowdfunding platform operators can innovate by exploring additional features and benefits that can help successful campaigns maximize their fundraising efforts.
2. Product Development - Innovators can leverage the Forever Funding program to run an evergreen campaign and eventually bring their products to market faster than they would with traditional funding avenues.
3. Tech Startups - Creating opportunities for more flexible funding and open-ended campaign duration can be a game-changer for tech startups looking to scale their business models through organic growth and increased exposure.
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