How crowd funding is helping people become entrepreneur?

By: timcheri

Crowd funding and crowd sourcing is turning to a popular concept among today’s generation. And why should it be? Many new projects are being funded by the crowd funding websites. Crowd funding as the term itself means is funding of any type of event, company or project by the crowd.

I will be giving some examples of companies that are made only by the crowd funding websites.
1. Rally Car:
A rally car was built by crowd sourcing. The price of car is kept 99,000 dollars and a 6 day stay at the car manufacturing plant.
The purpose was to make a rally car that can be made by crowd funding sources. Manufacturers are waiting for 2000 cars to be sold. And then they say, they will start on another project.
One of the negative aspects of the car is that it doesn’t have any steering safety air bag in it. Instead a 5 way belt is being used. When asked the manufacturers about such a drawback, they said it takes 10$ to make an air bag concept and deploy it, while it takes 60,000$ to make air bags for a car.

2. Ouya Gaming Device:
Ouya is a gaming device made by Ouya Co. by Julie Urhman. The Ouya gaming device is totally backed by the crowd funds on internet. The company received 8million dollars for a project to make the gaming device that is affordable for masses.
In response to the funds, a device with an usb port, Wi-Fi connection and a parallel port was made that works on Google Android.
The device is not bigger than a rubix cube and can run heavy games. More than 70 game developers have put up there services to make games that can work on the platform and an online service ‘On live’ has also form a pact with the company to bring the gaming experience on the cloud.
The gaming device is being given for trial to all those who funded the project. And will be available for sale in late June this year.
Julie Urhman says that the gaming device can play all heavy duty games and that the game makers will be making different versions of the already made games to work on the device.
It has 1 GB ram and an Nvidia Tegra 3 processor.

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Writer works in a logo online company that sells real estate logos by company logo maker.

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