Student projects have come a long way due to the microfunding online platform of Kickstarter, and your project could find investors and succes there, too. Each student project that’s successful on Kickstarter paves the way for other successes, and it’s definitely worth it to try. If you pitched a project or product to a U.S. corporation, for example, you are eight times more likely to find successful funding through Kickstarter. And it’s not just corporations that the platform is beating — Kickstarter is projected to raise more than $150 million in funding this year, while the National Endowment for the Arts has a budget of only $146 million. Whether you’re a game designer, a poet, or just have a dream, kickstarting your passion may be within reach.
There’s a strategy for Kickstarter success, so make sure you do your homework. College students can find funding and will have better luck if associated with their universities, and certain types of projects have a higher success rate than others. Dance, theater, and music have more than a 50% success rate, while gaming, technology, and fashion don’t boast the same results. Know your field, your audience, and your project well enough not to overpromise rewards or underperform on your pledge. Lastly, make sure you keep your funding threshold low. The average project that succeeds on Kickstarter has less than $5,500 as its funding amount, while the average failure begs for more than $16,000. If you want to kickstart your next endeavor, be sure to shoot for the stars, but do it cheaply.