Indiegogo

Started in 2008, IndieGoGo is a US-based crowd funding service for creative, charity or entrepreneurial projects which want to raise money to realise their ideas.  What is different about this one, compared to some of the other online services, is that if you don’t reach your intended funding goal, you still get to keep whatever funds have been pledged.

We first became aware of IndieGoGo via a post on twitter from UK filmmaker Jeanie Finlay who was using it to try and raise $5,000, to fund the post production of ‘Sound it Out’, a documentary portrait of the very last surviving vinyl record shop in Teesside, UK.

She already used IndieGoGo to fund the original film shoot and then used it again to complete the post production.  

Interestingly, the film was commissioned by SideShow, an artist-run series of exhibitions and events in connection with the British Art Show 7, which took place in Nottingham, UK in 2010.

Funding on IndieGoGo works by offering VIP perks for various amounts of support.  You could, for example, support ‘Sound it Out’ with as little as $5.00 and get  “our love forever and the warm glow that you have supported an INDEPENDENT FILM about a unique shop.”  For $10 you would have received an “Official Thank You” on the film’s website, Twitter and Facebook.  If you gave $25.00, you received “A mystery vinyl 7” record (on completion of film), special Sound It Out badge and stickers plus an online thank you on the film’s website / Twitter / Facebook.”

You could even go up to a donation of $2,000.00 which makes you an associate producer with credit on the film, tour of the shop, private screening, signed copy of the DVD and a mystery vinyl.  Interestingly, a US soldier, serving in Iraq, who is a music fan keen to be involved with film, found out about the project via a facebook page and made a single donation of $2,000.00

Any incentives offered are decided by the project organiser and clearly give visitors a ‘push’ to hand over their support and all-important cash.

Fees

If you reach your target

Indiegogo - 4%

Payment processing - 3-5%

Fund transfer fee from US to outside the US - $25.00

If you don't reach your target

Indiegogo - 9%

Payment processing - 3-5%

Fund transfer fee from US to outside the US - $25.00

So you will receive whatever you raised less the fees.

 

IndieGoGo has members in 224 countries and you can post a project for funding from any country, as long as you have a bank account.  They have around 15 million visitors a month so you get exposure for your project.

www.indiegogo.com

More in this category: Crowdfunder »

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