How to run a crowdfunding campaign: 10 Tips from entrepreneurs who succeeded and failed

InstabeatAny entrepreneur who doubts the power of crowdfunding can simply look to the example of Hind Hobeika, a Lebanese engineer who recently debuted Instabeat, a unique swimming goggle attachment that tracks a swimmer’s heartrate, caloric burn, and number of laps. Within one month, she was able to raise US $60,000 from 200 donors to launch her first round of mass testing and manufacturing.

Yet not every startup has been so successful. Ibrahim Khalil, a Jordanian game developer who left TakTek Games to create a new gaming company, Team Food Fighter, launched an amibitious IndieGoGo campaign to raise $100,000 and only raised $525.

However, failure is as powerful of a teacher as success; both entrepreneurs have learned valuable lessons that other startups can learn from.

Know why you want to crowdfund

Hobeika was inspired to create Instabeat from a personal need to monitor her swimming, and, after winning won third place in the Stars of Science competition in 2010, and first in the MIT Arab Business Plan Competition last year, she has worked with a team five over the past year and a half to hone her prototype.

Read More at Wamda


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