Boon and Bane of Crowdfunding


(Article taken from http://mypaper.sg/ on 19 Sep 2012)

  • Crowdfunding sites like Kickstarter, IndieGogo and Quirky are letting designers connect with audiences who want to finance their dreams… But, for the creators of these projects, getting the money is sometimes the easy part. They then have to turn their dreams into reality, with crowd keeping an eye on their progress.
  • Most of the time, this works out. However, some projects, including several high profile and in-demand ones, have run into glitches and lengthy delay.
  • Kickstarter says it is not responsible for making sure a project is completed on time, or at all…Kickstarter has no mechanism for refunding the pledges.