11 Reasons Why Launching a Crowdfunding Campaign is Valuable

By Joel Townsan, creator of the Flipout Screwdriver

When my crowdfunding campaign failed, I was pretty devastated. I couldn’t figure out what went wrong — my Flipout Screwdriver had just won the Proto Labs Cool Idea! Award, had gotten tons of press coverage and people really liked the video (not to mention the product). Yet, I fell short, raising only $17,000 of the $50,000 goal I needed to move forward. I’ll admit, the product was priced a little high ($130 compared to most electric screwdrivers that go for $30 to $50 in stores), but I still couldn’t understand what went wrong. I had spent six weeks emailing every gadget magazine, tech blog and DIY forum I could find, but was somehow unable get my project into the coveted “Popular Products” category on Kickstarter — a section on the site that can seemingly make or break a product overnight. I thought it signaled the end of Flipout. Fortunately, it was just the beginning.

The Flipout cordless driver has a 360-degree range of motion with 380 possible configurations.

In addition to simply raising capital, there are a lot of bonuses to running a crowdfunding project that can actually benefit an inventor more in the long run. When the Kickstarter clock expired, I thought my project had failed, but really, it was the beginning of a crazy roller coaster ride that would result in a DRTV deal with Lowe’s — one of the largest big box retailers in the world. Regardless of the success or failure of a Kickstarter project, there’s a lot of good that can come from the campaign. It’s kind of like running a marathon; it takes months of training and then you run like you’ve never run before, but once you cross that finish line, it can be life-changing. Thus, my excitement crowdfunding.

Here are 11 reasons why every inventor and entrepreneur should consider a crowdfunding campaign:

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Hush Technology Aims to Provide People with Better Sleep

Hush Technology, Inc. is the latest recipient of Proto Labs’ Cool Idea! Award. The company has designed a first-of-its-kind smart earplug. (photo courtesy of Hush Technology, Inc.)

 

California-based startup, Hush Technology, Inc., is the latest recipient of the Proto Labs Cool Idea! Award. Its product, Hush, is the world’s first smart earplug that combines sound-eliminating foam and noise masking technology to keep unwanted noise out while allowing important alerts in.

Hush helps users sleep through snoring, loud neighbors and a host of other noises that disturb nightly sleep. It connects via Bluetooth with a smartphone app so users can choose which notifications, including emergency calls and alarms, can get through to them during the night. The device includes a tiny speaker in its design that can play soft soothing sounds like white noise, ocean waves, and rain drops for over 10 hours. Continue reading