The Secret To Funding Your Creative Project: Kickstarter

August 25, 2012

DanseTrack Tip of the Day

Have a creative project in mind? Try…Kickstarter

What is Kickstarter?

It is a website that allows you to obtain funding from the general public to complete your creative project.  Here’s one of the many Kickstarter success stories:

Versa Style Dance Company of Los Angeles

Versa Style Dance Company Used Kickstarter to Successfully Fund Their Film Project – Furious Beauty

Versa Style set its original goal at $5,000 to fund its biographical documentary film “Furious Beauty”.  Through Kickstarter, 78 backers from the general public came together to raise $7,917 for the project.

Some fascinating observations:

How does it work?

1.  The project must have a clear goal such as making a film, writing a book, or creating some other work of art.  The project cannot be open-ended. Therefore, a project like starting a business would not qualify.
2. The project must fit into one of Kickstarter’s categories:  Art, Comics, Dance, Design, Fashion, Film, Food, Games, Music, Photography, Publishing, Technology, or Theatre
3. Prohibited uses: “Fund my life” projects such as paying for a vacation, bills, tuition, or buying a new computer are prohibited.  Also, charity funding is not allowed.

How Much Does It Cost?

Starting a project on Kickstarter is free. If a project is successfully funded, Kickstarter will apply a 5% fee to the funds raised. If funding isn’t successful, there are no charges.  Also, for successfully funded projects, Amazon will apply a credit card processing fee of approximately 3-5%.

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