The Place of Crowdfunding Platforms in 3D Printing: Kickstarter and Indiegogo: Detailed Review

The Place of Crowdfunding Platforms in 3D Printing: Kickstarter and Indiegogo: Detailed Review

3D printing is a technology that has developed rapidly in recent years and has the potential to revolutionize production. One of the innovations brought about by this development is that crowdfunding platforms help 3D printing projects come to life by providing funding. In this blog post, we will examine in detail the importance of crowdfunding platforms in 3D printing, the functioning of platforms such as Kickstarter and Indiegogo, and the benefits these platforms provide to 3D printing projects.

What is Crowdfunding?

Crowdfunding is a method of meeting the financing needs of a project by reaching a large audience over the Internet and collecting small amounts of donations. This method offers a new source of financing to individuals and entrepreneurs who want to invest in projects. Crowdfunding platforms act as an intermediary between the owner of the project and people who want to contribute to the financing of the project.

The Importance of Crowdfunding Platforms in 3D Printing

Although 3D printing offers lower cost and more flexible production compared to traditional production methods, some capital is still needed to start a new project. Crowdfunding platforms provide funding for 3D printing projects, contributing to the implementation of these projects and the development of 3D printing technology. 

Especially in consumer grade 3D printing, crowdfunding was a major player for the last 10 years. Today’s biggest companies such as Formlabs, Creality, Anycubic, Mosaic and many more started their journey with successful Kickstarter campaigns. It shouldn’t be forgotten that, 3D printing community grew in years with the mindset of “do it yourself”. We observed a lot of new projects developed by individuals, who created their own 3d printers on the way. This mindset played an important role for 3D printing companies to first propose their product on crowdfunding platforms.

 

Co Print's First Kickstarter: Campaign: https://www.kickstarter.com/projects/coprint3d/co-print-multi-filament-module-for-all-bowden-3d-printer

 

These platforms benefit 3D printing projects by:

  • Financing: Crowdfunding platforms are an important source of funding for entrepreneurs who do not have access to traditional financing methods for 3D printing projects. Entrepreneurs, who may find it difficult to get a loan from banks or find investors, can raise funds from a wide audience through crowdfunding platforms.
  • Marketing: Crowdfunding platforms offer an ideal environment to promote and market 3D printing projects to a wide audience. When a project is featured on the crowdfunding platform, the owner of the project can reach potential supporters by sharing detailed information, images, and videos about the project.
  • Community: Crowdfunding platforms connect entrepreneurs with people who want to support 3D printing projects. Thanks to these platforms, entrepreneurs can get feedback on their projects, communicate with potential customers, and create a 3D printing community.

Kickstarter and Indiegogo: Most Popular Crowdfunding Platforms in 3D Printing

Kickstarter and Indiegogo are the two most popular crowdfunding platforms for 3D printing projects. In both platforms, for projects to be funded, they must reach a certain goal and the necessary funds must be collected before the specified period expires.

Kickstarter: Kickstarter is a platform where "anyone can support creative projects." Projects on Kickstarter are divided into various categories such as art, music, design, technology, and games. 3D printing projects are also one of the most supported categories on Kickstarter. The funding rate for projects on Kickstarter is approximately 30%.

Indiegogo: Indiegogo is a crowdfunding platform that works similarly to Kickstarter. Projects on Indiegogo can be summarized with the slogan "funding for everything". 3D printing projects are one of the most supported categories on Indiegogo, as on Kickstarter. The funding rate for projects on Indiegogo is approximately 20%.

Co Print's Indiegogo Campaign:



 

Disadvantages of Crowdfunding in 3D Printing

Despite the many benefits that crowdfunding platforms provide to 3D printing projects, they also have some disadvantages:

  • Rivalry: Since there are many projects on crowdfunding platforms, it can be difficult to find funding for a project. Competition is quite high, especially for projects in a popular category like 3D printing.
  • Risk of Failure: If the project owner does not have the necessary skills and experience, it may cause problems in the production process or the project not being completed.
    • Legal and Tax Challenges: Crowdfunding projects may create some legal and tax difficulties. The owner of the project should research the legal and tax requirements regarding the project before launching a funding campaign.

    Tips for Success in 3D Printing Crowdfunding

    To make your 3D printing projects successful on crowdfunding platforms, you can consider the following tips:

    • A Clear Idea and Prototype: Have a clear idea and a working prototype. One of the most important elements of projects on crowdfunding platforms is to clearly explain what the project is and what it aims to achieve. You must be able to clearly explain to people who support your project how your project will work and what benefits it will provide. Additionally, having a prototype of your project is important to show supporters that your project is realistic and has potential.
    • Campaign Strategy: Create an effective campaign strategy. Carefully determine your campaign duration, target funding amount, and the rewards you will offer backers. Communicate regularly throughout the campaign, share progress on your project, and answer your supporters' questions.
    • Marketing and Promotion: Use different channels such as social media, blogs and forums to promote your project. Introducing your project to the 3D printing community will increase your chances of getting funding.

    Conclusion

    Crowdfunding platforms are an important source of financing and marketing for 3D printing projects. These platforms offer entrepreneurs an opportunity to implement innovative 3D printing projects. Crowdfunding platforms, which contribute to the development and spread of 3D printing technology, will become even more popular in the coming years.

    Co Print's Last Kickstarter Campaign:
    https://www.kickstarter.com/projects/coprint3d/chromapad-worlds-first-multi-filament-3d-printing-pad

    However, to be successful on crowdfunding platforms, it is necessary to have a good idea, a clear strategy and apply the right marketing techniques. This blog post has reviewed the place of crowdfunding platforms in 3D printing in general. To get more detailed information, you can look at the resources above and research the following topics:

    Good luck!

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