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In the recent years, crowdfunding has become a viable option for startups to raise funding for their new products. Indiegogo was among the first platforms, having been launched in early 2008, and is still popular. Kickstarter was launched in 2009, and is probably the best known platform of its kind, though dozens of others have been created since.
The most funded Kickstarter project of all time is currently the Pebble watch, which raised over $10M (their goal was just $100,000) in May 2012. Also the following five projects are by California-based startups, and you have to look down to number 16 before finding the first one from the UK.
Here’s the Kickstarter most funded UK Projects top 10 list
|1||Elite: Dangerous||$2,537,664||5 Jan 2013||Cambridge|
|2||Kano||$1,522,160||19 Dec 2013||London|
|3||Deadzone||$1,216,482||2 Jun 2013||Nottingham|
|4||GODUS||$851,447||21 Dec 2012||Guildford|
|5||Broken Sword||$771,560||22 Sep 2012||York|
|6||LiveCode||$748,939||28 Feb 2013||Edinburgh|
|7||DreadBall||$728,985||30 Sep 2012||Nottingham|
|8||Carmageddon: Reincarnation||$625,143||7 Jun 2012||Isle of Wight|
|9||Alien vs Predator Miniatures Game||$619,406||28 Nov 2013||Leamington|
|10||DreadBall Xtreme||$575,755||16 Mar 2014||Nottingham|
Types of Projects Funded on Kickstarter
Games really dominate this list, leaving little space for anything else. Most projects are video games, but there are also two board games – Deadzone and DreadBall Xtreme. The only projects that are not games are Kano and LiveCode. Kano is an educational pack containing a computer and a coding kit that is suitable for all ages. LiveCode is a tool for quickly writing code, allowing you to easily create cross platform apps (among other things).
Startups Biggest successes
While Elite: Dangerous drummed up the most funding, it also had a goal of over $2M, resulting in it being 126% funded. On the other hand Kano, Deadzone, DreadBall and Alien vs Predator had much smaller goals, meaning that they ended up being over 1,000% funded!
You might have noticed that three projects are from Nottingham and they all have similar names. Well, there’s an explanation – they are all by the same games developer, Mantis Games. Mantis Games have in fact managed to secure funding for six different projects on Kickstarter.
Deadzone had by far the most generous backers. It was backed by only 4,306 people, giving an average of $282.50 each. That is considerably higher than other projects, such as Carmageddon: Reincarnation at under $40 per backer!
Secrets to success
One thing that can be said about these top 10 projects, is that a lot of work was put into the campaign of each one. They contain detailed descriptions plus good graphics and videos. Obviously potential backers want to know all the details about the product, the production timeline and how the money will be used.
Some projects are based on older games, so they are largely able to take advantage of the success of their predecessor as well as feelings of nostalgia. For example Elite: Dangerous is based on Elite from the 80’s and Carmageddon: Reincarnation is an updated version of Carmageddon from 1997.
Many projects received the majority of their funding within the first few days of going live, which means that a lot of effort had previously been put into creating a community of interested people. The most extreme example is DreadBall Xtreme, which received over $250,000 from 1,343 backers on the first day, compared to between $3,732 and $29,732 on subsequent days.
New government regulations concerning crowdfunding came into force on the 1st April this year, so it will be interesting to see what the future of crowdfunding looks like in the UK and whether a project will beat the record set by Elite: Dangerous.