16 minutes | Aug 14th 2014

008 The 3 things you NEED to know when crowdfunding hardware

We've all read stories about successful crowdfunding campaigns that shipped months late because of "manufacturing problems". I'd bet a nickel that was because these crowdfudning campaigns didn't work with Dragon Innovation and Scott Miller. Scott, an MIT grad who ran the team that developed and manufactured 3 million units of the Roomba, has built an impressive team in Boston and China. They're the people behind serious hardware crowdfunding campaigns, working with entrepreneurs to effectively plan and execute on a manufacturing stragegy that can take them to production of millions of units. Scott shares a multi-step crowdfunding production plan with Zack and David, backed by decades of experience. This episode is a must-listen if you're thinking about launching a crowdfunding campaign for a consumer electronics product or if you're thinking about backing/investing in one (Scott also gives listeners a couple of powerful resources to learn more about the manufacturing for crowdfunding campaigns). David and Zack talk about crowdfunding in the news, including Naked Wines (subscription commerce) and Tilt (payments for groups). Prescott shares his data point of the week in Watson on Crowdfunding: $321 million (how much hardware crowdfunding campaigns have raised after Kickstarter from venture capital firms). Listen in to this powerful trend and how to take advantage of it, like Oculus did when it sold for $2 billion (!) to Facebook after a successful crowdfunding campaign. Lastly, David Stark-up-Nation shares his favorite crowdfunding campaign going on right now: The Scarecrow Project that aims to gather and protect the world's largest collection of videos imaginable at its store in Seattle.
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