Carlos Lopez recently founded ToyBacker.com, a crowdfunding platform dedicated to toy and game creators. He explains why now is the right time to launch such a site.
Let me start by saying that our ToyBacker crowdfunding platform concept has received an overwhelming amount of support from the toy inventor community.
We have received dozens of emails from seasoned inventors saying they cannot wait to put an idea up on our site.
Crowdfunding has become a successful way for an inventor to raise the money needed to create, manufacture and distribute a new product.
You just need to look at successful crowdfunding campaigns like Goldieblox or Exploding Kittens to see what a crowd can do for a new product.
The days of campaigning on your own to friends, family or generous lenders, are over. Now, you can get the funds you need in 30 to 60 days through crowdfunding online.
Still, there will always be the inventor who fears their idea may be stolen if they go the way of the internet.
Access to the internet is a blessing and curse.
You are showing your idea to millions of people who can now quickly see, evaluate and potentially donate to help an inventor get his or her product off the drawing board.
The risk lies in the ‘bad seed’ internet thieves who will try to steal or even duplicate an idea, regardless of whether it’s patented. But can’t we say this could happen anywhere?
The advantage that crowdfunding has is that it allows for proof of concept, and immediate early consumer reads on an inventor’s idea.
But this only works best when an idea is fully realised, developed, incubated and then ready to be shared.
Let’s face it, backers are visual. They want to see what they are getting for their contribution and in most cases, a sketch or ‘rough idea’ won’t cut it. This is the advantage that seasoned toy inventors have.
They know what it takes to produce, cost, develop and even market an item to their target consumer. Backers like this.
Having a patent will strengthen an inventor’s idea and also helps to dissuade copycats.
We know that as ToyBacker.com grows, we will collect a lot of new novice creators, as well as a whole host of new inventors with many amazing ideas.
It’s exciting to think that despite being in its infancy, ToyBacker.com is receiving such support.
I think the toy industry recognises the changing landscape of the consumer as it relates to the internet.
Crowdfunding can no longer be ignored.