What do you get when you combine online Groupon with venture capitol firms? You get Kickstarter, a funding platform for creative ideas. Companies pitch their idea via a profile and pitch video on Kickstarter’s site, and it’s up to the public to decide if they want to swap their cash for discounts and schwag. That is if a minimum amount of funding is met, similar to how Groupon has their assurance contract.
I love this service for so many reasons. One, it combines several different tools and services to create a new one; this seems to be how the most popular companies are getting off the ground. Their not recreating the wheel, but they’re finding a new way to use that tool. Hell, that’s why cloud computing is so genius. Why build your own platform when you can use an existing, just as functional service? Two, this service is helping get quality businesses off the ground where they may not have been able to had this service not existed. Three, it is leaving the judging for a business’s relevancy in the hands of the people who it will serve; the public. Why should the VC’s have all the say in what succeeds?
Any way, check out this example of a business that used the service and quickly met its minimum funding. Looks like these crazy cats will actually be able to feed the world some interesting microbrew. (sorry for the lack of an embedded player. Looks like WordPress doesn’t like iFrames)