It’s more than proven that crowdfunding has allowed the rise of new businesses. Although not only it has allowed them to be born and enter the market, but in certain cases, it has also allowed them to reinvent themselves again. Today we’ll see 4 cases in which crowdfunding has driven or reinvented businesses.

Business crowdfunding

Before starting with our list today, it’d be good for us to explain a term that few people know. It’s about “business crowdfunding”. A kind of crowdfunding derivative that mostly includes those campaigns that seek to promote innovative ideas. Precisely, so that in the end a strong and consolidated business is born.

In general, business crowdfunding is often related high caliber campaigns. Those that have achieved global impact and raised a large amount of money. And while that’s usually the case, most of the time, it’s not always necessarily like that. Within our list, you’ll find examples that demonstrate it. Let’s go to it.

Scanadu Scout

It’s about an electronic device that is able to give you information about your body. Starting from your temperature, respiratory rate and even giving you an EKG. You can even measure stress levels! To do this you must place the device on your forehead for 10 seconds. Since it’s designed to connect to a smartphone, you can see your status from it.

It was created by Scanadu, Inc., a company that is responsible for creating medical technology for consumers. At the time, it was considered a great innovation in the medicine area. The success of its crowdfunding campaign is another equally remarkable element. Requesting $100,000 as initial goal, at the end of the campaign it managed to obtain $1,661,574. In a company statement in 2017, it was announced that Scanadu would no longer be supported for personal use.

Pono Music

We move crowdfunding campaign about music. Pono is a music player but one out of the ordinary. It doesn’t play MP3s or CDs. Instead, it plays analog recordings of music in order to offer it with the highest possible resolution and quality. So that there’s no compression or loss of data and that each song is heard exactly as the artist wanted.

Pono Music Crowdfunding
Pono music player was also an initiative of Canadian singer Neil Young, who was looking for a new alternative for artists and fans of music. Source: The San Diego Union-Tribune

This invention was created by the PonoMusic company, with the help of several artists, record labels and music production studios. It comes with a pair of specialized headphones to improve the listening experience. It has a quite versatile size and a striking appearance, which allowed it to attract the attention of music lovers. Thus achieving to turn this product into a whole business through crowdfunding.

Canary

Technology dominates our list today! We continue with Canary, another electronic device that shares something similar with Scanadu Scout. You can measure information, but not from your body. But from your own house. That’s right, this is a safety device that can measure temperature, humidity and air quality. It can also detect movement inside your house.

Canary Smart Home Security
The Canary device is known for being versatile and easy to install inside any home. Source: Flow Gadget

It comes with an HD camera to capture evidence. Which has night vision and a microphone to record sound. A siren may sound to scare burglars or intruders, or simply tell you there’s an emergency. It should be noted that this device can be linked to a smartphone. From which you can receive real-time alerts to act anywhere as the case may be. Its crowdfunding campaign was successful.

BienDateao

We’ll finish with another technological endeavor of the digital era. One within the world of communication and journalism. An area that may be less lucrative for some, but doesn’t stop being a business either way. BienDateao is a digital newspaper of Venezuelan origin. Which seeks to provide everyday information about Venezuela and its occurrences.

It was founded by the journalist Damaso Jimenez in 2010 and since then it has been updated daily. However, contrary to common digital newspapers, BienDateao intends to offer content based on the needs of Venezuelans both inside and outside the country. That’s why, through a crowdfunding campaign, he began to raise money in order to offer higher quality journalistic material.

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Can you see how crowdfunding drives business…?