Kickstarter is the largest of dozens of sites devoted to crowdfunding, in which donors contribute small sums of money to get a project off the ground.
Inventors, artists and entrepreneurs post their projects on a Kickstarter page, usually with a video presentation. They set a fixed duration for their fundraising, from one to 60 days, and a dollar goal for contributions. Anyone can contribute. If the goal isn’t reached by the deadline, no money changes hands and the project is cancelled.
Business and technology consultant Scott Steinberg, who has written a guide to crowdfunding, says it’s inevitable that commercialism would seep into it as the phenomenon grows.
“Crowdfunding is almost in the pre-K phase, and it’s about to grow up very fast here, and become more complex,” he says. “Inevitably, more businesses and profit-minded organizations are going to gravitate there.”