In March 2017, I've launched a crowdfunding campaign for a leather backpack to fund its first production run, and hopefully to fund the rest of the collection thereafter.
It took a year and a half to design, source materials, and find the right manufacturer to produce the final prototypes.
Shortly after launching the campaign, I realized that if the campaign wasn't 100% funded, I wouldn't be able to cover the cost of the first production run, and even if the campaign was successful, I wouldn't be able to fund multiple production runs for that same product.
Unfortunately, the campaign ended and failed for my lack of marketing knowledge! However; I believed, and i still do, that crowdfunding is a great business model to launch and scale lean businesses! Startups should be able to fund new ideas, projects and multiple production runs through crowdfunding, they should be able to assess the demand of their products before committing to production to avoid waste and scale with sustainability in mind.
In July 2018, Fundlify crowdfunding platform was born.