What are the pros and cons of crowdfunding, vs. self-funding, vs. VC-funding for a hardware startup?
When should I be using which sort of funding?
When should I be using which sort of funding?
Crowdfunding: Pros --> Big platform that you can piggyback on; somewhat well-understood form of funding; can leverage to build a brand Cons --> Less control over your brand and your message (e.g. hard to A/B test); commission
Self-funding Pros --> Complete control over your website, message, brand, etc. Can offer whatever incentives you want. Cons --> Harder to get the word out, generate press, access early adopters
VC funding --> This is important should you want to build a high-growth business and avoid the pitfalls of a lot of Kickstarter campaign. We've supplemented our Kickstarter campaign with VC funding and used crowdfunding as a means to get early adopters, build our brand and fund our first production run.
My name is Khalil, CEO of Hykso (www.hykso.
Are you talking about product crowdfunding like Kickstarter and Indiegogo or equity crowdfunding?
What was the main reason for you going with a selfstarter (your own website) over IGG/KS? Would you do it again?