Contributed by Mark Reyland
United Inventor Association of America
As the largest inventor organization in the world, the UIA
is always looking for projects that can help inventors. One such project was a Crowd Funding program we helped the
people at FundaGeek build several months ago.
Eighteen months ago as Kickstarter and other crowd funding
programs started to build in popularity we knew the inventor community would be
one of the first in line to use this no risk funding source. So we started
contacting each of these companies with our concerns about public disclosure
and the effect of posting unprotected ideas on their sites without making sure
the inventor knew the risk.
With the exception of FundaGeek, every company we contacted
rebuffed our request to notify their users because they felt it would interfere
with their business. That's right, in the end crowd funding is a business and
the 5% they receive of your pledges is very real profit.
That's when we started working with FundaGeek to develop a
portal on their site specifically designed to inventors.
In the FundaGeek inventor model we take traditional Crowd
Funding (asking for a single sum of money) spreading it out over time more in
line with the inventing cycle. The model encourages you to ask the crowd for incremental
funding in smaller amounts that build on each other. You may ask for $1000.00 in your first round
to do research or build a homemade prototype. Then follow that up by showing
the crowd what you achieved with the first round of funding and ask for
$2500.00 next to apply for a patent and maybe even purchase some form of
inventor education program or attend a tradeshow.
We mention this because after many many hours of coaching
inventors, Cary Harwin and his team have an inventor project on FundaGeek that
is well developed and on track. It's from an inventor named Anwar Farooq from
Montclair California who has built a crowd funding program to support the
development of his QuicknSilent Pencil
So if you have a moment check out what Anwar built to get
the crowd to fund his project http://www.fundageek.com/project/detail/600/QuicknSilent-Pencil-Sharpener and if you have an extra buck laying around show your support for a fellow
inventor by making a pledge.
Of course - If you have an invention you are trying to get funding for
check out www.fundageek.com/inventors and take the time to build a solid
program like Anwar did - who knows you could find the money you have been
looking for all along.