PRLog - April 18, 2014 - SAN JOSE, Calif. -- The industry, which includes activity tracking and health monitoring devices, smart textile, virtual reality hardware, wearable computers and hands-free communicators, already has reached billions of dollars in sales and continues to grow very fast. Alongside huge global corporations spending millions of dollars on R&D, small startups around the world create revolutionary new products. Crowdfunding has become the mainstream in bringing these ideas to market.
“We researched 300 wearable technology projects which have raised money on two largest crowdfunding platforms Kickstarter and Indiegogo. Combined, these campaigns have raised almost 50 million dollars,” said Elena Mikhaylova, CEO of Crowdfund Productions.
Here are some of the findings from the research:
• Crowdfunding for wearable technologies has grown hugely over the last several years. There were only six campaigns which combined, raised less than $400,000 in 2011. During just three months of 2014, we’ve seen 45 active campaigns. Successful projects have raised over eight million dollars in January – March of 2014.
· 34% of Indiegogo and 45% of Kickstarter projects have succeeded in reaching their funding goals.
• While 34% of all successful campaigns have been originated in California, there is a large upswing in other countries and continents as well. Creators of successful campaigns live in 20 countries on five continents.
• One in four projects has risen over $100,000.
• The major problem of the industry is the lack of responsibility of the creators. Only 24% of the projects that reached their funding goals in 2010-2013 on Indiegogo and 51% of successful projects on Kickstarter have delivered the funded products to their backers. For flexible funding Indiegogo campaigns these numbers are even worse.
The research conducted for the first time in history provides invaluable data to highlight major industry trends, potential problems and to evaluate the growth rate for the market niche in crowdfunding for technology products. It will be beneficial for wearable technology entrepreneurs, crowdfunding experts and enthusiasts, and those interested in studying or investing into the industry startups.
For additional information contact Elena Mikhaylova: email@example.com
About Crowdfund Productions:
The Crowdfunding consulting and event management company based in Colorado has been involved in tens of projects on Kickstarter, Indiegogo and other platforms, helping its clients to raise hundreds of thousands dollars. It also hosts educational events around the country from lunchtime workshops to large conferences presenting experts in the rewards, donations, debt and equity crowdfunding.
Address: 4795 Isabell st. Golden, CO 80403