By Julie Bort
Crowd sourced funding site Kickstarter has been kicking ass for would-be entrepreneurs.
So far in 2012, two projects have raised over $1 million. Several others have surpassed $250,000.
A project must reach its funding goal before time runs out or no money changes hands. That way creators don’t get locked into developing a project if they don’t have enough money and contributors don’t get stuck paying for crummy ideas.
Project owners have to promise something of value in exchange to those that contribute, but not the typical financial incentives such as ownership, a share of profits, or repayment. Instead the so-called “Kickstarter economy” is based on other types of rewards like copies of the work, limited editions or just plain fun experiences (such as dinner with a famous person).
Here are the 8 biggest awards for tech products so far…
Daniel Chin raised $262,351 to turn thumb drives into file servers.
Who: Daniel Chin founder of Apple accessory maker Sanho, in Fremont, CA.
How much: Chin got backers to contribute $262,351 when the project closed on January 6. This was fortunate as he was asking for more than the typical Kickstart project, $100,000.
For what: CloudFTP will turn any USB storage into a device that can wirelessly share files with the iPad and iPhone. Chin offered backers free products and also promised those that pledged $500 to include them in the ads placed he would place in a couple of popular Mac magazines.