One of Pozible’s first crowdfunding campaigns from China smashed its target within a minute of launching. Within 25 minutes the project creators behind the Gyenno One wristband were half way to selling out of their current stock. The base reward for a single watch was set at ￥399 (about $64), an affordable price point for interested backers.
As at 1pm yesterday, the Gyenno One had reached 2000% of its campaign target and as at 9:00am Wednesday is at 3685% of its target for the stylish smartwatch crowdfunding on the Pozible platform.
Pozible is using this early success in China to emphasize they are now officially open for business in the country. The China expansion was just launched this past March and there is a huge demand for innovations from The Middle Kingdom.
“Just after midday yesterday the campaign for the stylish and affordable new wristband Gyenno One was launched. Within a minute it had reached its campaign target of 10,000 Chinese yuan, and for several minutes, every time the page was refreshed, the number of pledges doubled,” said Pozible Co-Founder and Director, Rick Chen.
Gyenno One is a new wristband / smartwatch that combines sleek design and function. The device claims to be able to monitor sleep patterns and fitness. The device also syncs directly with your iPhone or Android phone providing various alerts and features. The waterproof wristband also has wireless recharging capabilities.
Chen says that its affordable price helped boost the campaign;
“Similar products are currently available on the market, with the usual retailer markups. However, the sophisticated Gyenno One is available to the entire planet at around a third of the expected price for a product of this quality,” said Mr Chen.
“Most of the world equates China with mass-produced, cheap products; missing out on the amazing innovations and maker movements that are being generated from there,” he said.
Chen recently spent a week in Shanghai, helping to set up Pozible’s new Chinese office and attended a maker fair, where he witnessed the developments in technology that are coming out of there.
“What I saw was very cutting edge and sophisticated in terms of the quality of materials, concepts and technology,” he said.
“We do not have the restrictions placed on geography that many other crowdfunding platforms do. We are excited to take on crowdfunding projects from across the globe and offer the best in creativity for anyone to access,” said Chen.
“Over the next few months we look forward to hosting campaigns for an app that turns your smart phone into a wireless remote control, a smart watch that helps carers to monitor the live heart beat of elderly or unwell patients, events and fashion projects,” said Chen.
In other parts of Asia, Pozible is excited to be an Official Partner of the Open Learning Massive Open Online Course (MOOC) in Global Entrepreneurship, run out of Taylors University in Malaysia.
“This partnership will see more than a thousand entrepreneurs from across the globe running their own crowdfunding campaign on Pozible – we look forward to seeing what they produce,” said Chen.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!