When you fail to secure a sum of investment to kickstart your business ideas, you can count on a new type of investment funding: crowdsourcing-typed funding program. According to New York Times report "Start-Ups Look to the Crowd" this new tactic sounds too good to be true: an engineer who had a decent idea but couldn’t secure financing to make his business viable turned to a site called "Kickstarter" a site where where ordinary people back creative projects. So this guy named Eric and his partners succeeded in financing a sum well over his initial funding target: as of Friday afternoon, nearly 50,000 people had pledged close to $7 million. (Whowired Staff)

 

Here are the NYT report to give you insight on how any businesses can come true thanks to crowdsourcing power:

 

Although the site first began as a way for people to raise money for quirky projects like pop-up wedding chapels, around-the-world boating trips and offbeat documentaries, it quickly expanded to include video game production, feature films and innovative new gadgets, like the Elevation dock, a sleek stand for the iPhone, or Brydge, which turns an iPad into a laptop resembling the MacBook Air.

 

The large amount of money that Pebble has raised — equivalent to what a young company would get in a second round of venture capital financing — also signifies a coming of age for Kickstarter.

 

Much as the introduction of cheap Web services lowered the barrier to entry for people seeking to create a start-up, and as offshore manufacturing gave entrepreneurs a chance to make products without having to build a factory, Kickstarter offers budding entrepreneurs a way to float ideas and see if there’s a market for them before they trade ownership of their company for money from venture capitalists.

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