Tech Projects Have Low Success Rate on Kickstarter
Kickstarter's technology projects have one of the lowest success rates for funding, but can still raise large amounts of money.
Many an entrepreneur or geek has funded his or her dream project through the crowd-sourcing website Kickstarter, but far more have seen their projects fail to hit donation goals. A new "Kickstarter Stats" page shows that technology projects have one of the lowest success rates among all Kickstarter categories.
Kickstarter has played host to plenty of fascinating technology ideas that might otherwise not find funding as typical startups. Such ideas include a private space shuttle, an aircraft with better gas mileage than cars, a $10,000 spacesuit for space tourists, a snake robot that can curl up into a rolling wheel, and gloves that can tap on touch screens.
But successful funding on Kickstarter is defined by whether a project hits its funding goal by a certain date — if it does not, none of the pledged donations go through. Technology projects ranked almost rock bottom for success rates with 28.86 percent, with only fashion projects doing worse.
Still, technology projects did pull in a respectable amount of money with donations totaling $14.42 million ($11.71 million for successful projects). That puts technology in the middle of the pack for Kickstarter categories in terms of total funding raised. [40 Most Innovative Kickstarter Projects]
Kickstarter unveiled its "live stats" page shortly after AppsBlogger.com put together an infographic showing success and failure rates of Kickstarter. The crowd-funding website may have been listening when tech journalists and bloggers began complaining about how hard it was to find information about project success rates — useful info for anyone considering using Kickstarter to crowd-fund their next big idea .