How to find innovative and newly launched tech products?

If you’re tired of the same offers all the time and are looking for new, innovative and interesting tech and other products on the market, then there is one special place you’re probably missing. The answer is simple: crowdfunding.

In this article, we cover what is crowdfunding and how it works, as well as suggest some cool innovative products to check out at the end.

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Chances are, you’ve come across crowdfunding ventures on your own social media pages. Whether it was someone raising money to fund their education, surgery, funeral expenses, or a cause that they are passionate about, people use crowdfunding every day to raise money for a particular cause. It is an innovative way in which people will be able to raise money from a large audience and use that money to fund specific projects. There are plenty of websites out there that allow people to hold these types of fundraisers in a creative manner.

How Does Crowdfunding Work?

There are several different types of crowdfunding, but the two most popular are reward-based crowdfunding and donation crowdfunding.

Reward-based crowdfunding

This is what you will find on websites such as Kickstarter and Indiegogo. Basically, people will donate money to a cause where they will receive some sort of benefit. For example, on Indiegogo, one of the most popular projects at the time this article was written is for funding the costs of a revolutionary blow dryer. People who pledge a certain amount of money will receive a complimentary blow dryer- the more they bid, the more blow dryers they receive. Those interested in backing the project will choose the package that they are the most interested in, provide their financial information, and receive the package later on. The platform will take a small percent of the fees raised, but the rest of the money will be disbursed to the project owner.

Donation crowdfunding

This is a similar idea to the above, but people do not get a reward for doing it. This is something that you would most likely find on GoFundMe. Donation crowdfunding is when people raise money for a certain cause, such as disaster relief, medical funds, education expenses, and more. The person raising the money will set a goal for how much they want to raise, describe what they are raising it for, and will share the fundraiser across different platforms. People simply select or input the amount they want to donate. The site takes a small fee from the donations and the rest are disbursed to the project owner.

Top Crowdfunding Websites

Nowadays, there are so many great crowdfunding platforms that one can use to fund their innovative projects or fundraisers. Here are some of the most popular.

Best for Entrepreneurs

Kickstarter and Indiegogo

Best for Creators

Patreon (This is a crowdfunding site that is most popular among online influencers. Someone pledges a certain amount of money every month in exchange for art or another service, such as free products, signed photos, etc.)

Best for Fundraising

GoFundMe

Best for Business Loans

LendingClub (This is a way for entrepreneurs to conduct debt crowdfunding in a manner that’s a lot easier than taking a trip to the bank.)

Indiegogo vs. Kickstarter

Indiegogo and Kickstarter are listed among the best crowdfunding sites for 2020 and they surely live up to their fame. They both work well, especially for those who want to gather funds for a special project. Let’s look at the differences and similarities between the two sites.

Indiegogo

This site is most commonly used for community projects, creative innovations, and other entrepreneurial ventures. You have the option to choose between fixed or flexible funding. Flexible is a good choice if it doesn’t matter how much you raise, but fixed is better if you need to reach a specific goal. Donors will have their funds returned if you don’t reach the goal with fixed funding, but you will receive the money no matter how much was raised with flexible funding. You need to have a minimum goal of $500. There is a processing fee of 3 percent and 30 cents for every transaction. In addition, if you do not meet your goal, there are no fees, but there is a 5 percent fee for those who do meet their goal with either type of funding.

Kickstarter

Kickstarter is also a great site for entrepreneurs to fund their ventures. It’s easy to use- all you need to do is set a goal, when the project needs to be completed by, and wait for your project to be approved. You also need to provide some sort of reward for those who donate. Unlike Indiegogo, if you don’t meet your goal on Kickstarter, you won’t receive your funds. There is a 5 percent fee in addition to the 3-5 percent fee per transaction.

Top Crowdfunding Products for February 2020

And finally, here is our list of the top crowdfunding products for February 2020 that we think are worth supporting.Read Less

Nebula Cosmos Max

This is the perfect project for those who want to have their own movie theater at home. It features a 4K UHD picture and 3D audio. The prototype of this product will also provide you with a resolution of 1080p.

Smart Ring

This is a ring meant to be worn on your finger that has plenty of innovative functions. For one, it claims to track your activity 24/7, as well as your sleep and health. In addition, the ring will provide you with recommendations and an alarm clock.

Small & Quiet Milk Foamer

Whether you enjoy coffee, lattes, frappuccinos, or anything else, this frother is perfect. It will produce a creamy foam in less than a minute. You can even use non-dairy milk with this.

I’m the foldyroll bag

If you ever find yourself in situations where you need extra storage, here is the project for you. It can fold into a small size. In addition, the bag has splash-proof features.

Hypnotic Spinning Tops

Similar to spinning jacks, these are meant to take away all the stress from your day. You can spin these tops on any surface. They claim to be able to spin for 70 seconds.

LastTissue™

For those who are trying to be more environmentally conscious, this is for you. This is a box of tissues that can be reusable. When you’re done with the tissues, simply wash and reuse them.

MICROBLADE PILL

If you’re ever out and you find that you need to cut open a box, envelope, or anything else, the Microblade is here to solve that problem. It’s a small cutting tool fashioned in the shape of a pill. You can easily fit this blade in your pocket.

Norshire Mini Tire Inflator

Having a flat tire, especially when you’re in the middle of nowhere, can be disastrous. This portable inflator will save the day when you’re in that situation. It’s small and portable, but it’s capable of providing enough pressure for your tires.

TheChefClub: The Ultimate Kitchen Knife

These creative knives feature an innovative design and advanced metal. They are made out of powder steel and they have a titanium finish. In addition, these knives will always stay sharp.

SwitchBot Curtain

This is a unique device meant to allow you to control your curtains. You can schedule the times that you prefer your curtains to open and close. They also have a light sensor.

Doqo keyboard

This is an innovative keyboard that claims to be able to take your iPad to the next level. It’s sleek and has a computer-like design. In addition, the keyboard has a built-in battery.

Cuppa Cordless LED Touch Lamp

These lamps have a minimalist design. They also are small, portable, and cordless, so you can easily take them with you wherever you go. A bonus feature is that the lamps are waterproof.

SMOL – The 6in1 All Weather Reversible Jacket

This is a jacket and vest combined that you can wear during any season. It comes in many sizes and colors. It’s also windproof, lightweight, and water-resistant.

GoFindMe: A GPS Tracker

This GPS claims to be the longest-lasting global tracker in the world. It can be recharged and the battery will last for one year. The location tracker may be used anywhere in the world. Works Without Cell Service.

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