With a backdrop of a disappointing May jobs report (69,000 jobs created) and a plea to keep its dog collar American-made, Bright IP Concepts LLC of Novato, Calif., today launched a crowd-funding campaign on Indiegogo.com through which it hopes to raise $75,000 in the next 45 days.The company plans to use the funds to scale up production and create new packaging for its Supercollar dog collar with built-in retractable leash. If the campaign is successful, the funds raised would provide Bright IP with the necessary working capital to meet its manufacturers’ minimum order quantities for the product and packaging.
Indiegogo’s crowd-funding program works by having the fund-seekers offer perks to contributors, so rather than persuading traditional lenders with a traditional business plan, emerging companies would appeal to the public’s interest in a particular product or initiative. It also allows the company to raise funds without selling a position of the company or incurring debt.
In the Supercollar campaign, BrightIP offers a variety of perks based on the size of contribution. For example, the company will post a photo of the contributor and/or the contributor’s dog on its Facebook Wall of Fame for every donation of $5 or more.
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