10. What is Crowdsourcing?
“Crowdsourcing is the
process by which the
power of the many can
be leveraged to
accomplish feats that
were once the province
of a specialized few.”
Jeff Howe
24. Statistics as of 9/5/2012
Projects and Dollars
Launched Total Successful Unsuccessful Live
Live Dollars Success Rate
Projects Dollars Dollars Dollars Projects
69,639 $343 M $290 M $36 M $17 M 3,479 43.93%
Successfully Funded Projects
Successfull Less than $1,000 to $10,000 to $20,000 to 100 K to
$1 M +
y Funded $1,000 $9,999 $19,999 $99,999 $999,999
Raised
Projects Raised Raised Raised Raised Raised
29,063 3,444 19,930 3,446 1,985 248 10
Unsuccessfully Funded Projects
Unsuccessf
61% to
ully 1% to 20% 21% to 40% 41% to 60% 81% to 99%
0% Funded 80%
Funded Funded Funded Funded Funded
Funded
Projects
37,097 7,986 22,699 4,245 1,499 476 192
Einstein – Imagination.Ideas – create and destroy nations, start of the project.Long path.Dark matter. 78% - intangible assets
<2% of ideas are realizedMoneyResourcesConfidence, stolenMarketWhat to do with it?Ideas from junior employees aren’t accepted
Invention – new idea, Innovation – practical application into market, improvement.Problem solutionEvolutionary idea - DarvinSymbiotic idea - MorseRevolutionary idea - MarxSerendipitous discovery - FlemingTargeted innovation – Rise genomeArtistic innovation – No practical app.Philosophical idea – Never in lifeComputer-assisted discoveryMartin Cooper 1973 first cell phone.Inventors:Don’t finish projectsLeft HandedInner worldPassion – workNo friends, no children
Amazon – collaborative space to create and execute tasksCisco – innovative business plans in 2008 – family ($250,000)Facebook – localizationGalaxy Zoo – classify a million of galaxies (70,000 classifications per hour)General Electrics – cleaner till 2020IBM – 37,000 ideas for innovations from brainstorming with customers, employees , familyPepsi – design of Pepsi canWikipediaNasaClickworkers – array of images of Martian surface – landscape elements
MoneyFunSkillsPeopleDirect feedbackSocialStatus
Wisdom of the crowdCrowdvotingMicrowork
Launched 2008Max 60 daysBackersFull amountJust for art5% charge
No surprises here. The type of projects creators launch reflects the cultural products of their particular city. Music projects are popular in Nashville, film projects in Los Angeles, and technology projects in San Francisco.What is interesting, though, was the finding that “the higher the proportion of creative individuals in a founder’s city, the higher the chance of success for that founder.” (Check out the map below.) The idea being that if you live in a large community of creative types, the quality of your project tends to be better because of a higher standard set by greater competition. And the better the quality of your product, the better your chance of success.
No surprises here. The type of projects creators launch reflects the cultural products of their particular city. Music projects are popular in Nashville, film projects in Los Angeles, and technology projects in San Francisco.What is interesting, though, was the finding that “the higher the proportion of creative individuals in a founder’s city, the higher the chance of success for that founder.” (Check out the map below.) The idea being that if you live in a large community of creative types, the quality of your project tends to be better because of a higher standard set by greater competition. And the better the quality of your product, the better your chance of success.
Success Rate calculated by dividing the number of successfully funded projects by the number of all projects that have reached their deadline (including successful, unsuccessful, canceled, and suspended projects).Most successfully funded projects raise less than $10,000, but a growing number have reached six and even seven figures. Currently funding projects that have reached their goals are not included in this chart — only projects whose funding is complete.Funding on Kickstarter is all-or-nothing in more ways than one. While 12% of projects finished having never received a single pledge, 82% of projects that raised more than 20% of their goal were successfully funded.