Crowdfunding helps Aussie entrepreneurs raise capital

Posted on 18 Jun 2014 by Tim Brown

Australian entrepreneurs are using the crowd funding platform Kickstarter to fund their creative business projects and it is paying dividends.

Brisbane brothers and new entrepreneurs Saul and Josh Cockburn are the latest to benefit after generating over AUD$23,000 (£12,600) in the first week of their 40 day campaign, beating their initial $10,000 goal to help fund production of their idea, the Tooletries Bathroom Travel Case.

Leaving behind corporate careers to pursue their dream, the brothers have put everything on the line (and online) to see Tooletries come to fruition.

“We decided to quit our regular jobs and focus all of our attention on starting our own business, Tooletries. Our first product is the Bathroom Travel Case and we have more products that we want to pursue in the future,” said Saul Cockburn.

Tooletries aims to make sleek and innovative bathroom products for men, by combining the aesthetics of tools with the functionality of toiletries. Their focus is to bring products to market that are unique and specifically designed for men.

“Kickstarter is a great way to fund the initial production costs and we were amazed by the response. We have already raised twenty-three thousand dollars and we still have 32 days in the campaign so depending on what else we raise we will be able to produce more than we originally expected and have funds to run a full marketing push,” Josh said.

The brothers said Kickstarter was also a great way to promote their product and see what the market thought before going into full production.

“It’s not just about raising money for the project, although that is really important. We can get feedback on the product such as which colours the public likes and it is a great way to get our brand noticed,” said Saul. .

Kickstarter is a crowd funding platform that allows the public to financially back projects by giving money to the creators of a product. In return for their pledge the backer is offered a tangible reward such as one of the first products to be manufactured. The site was launched in the United States in 2009 and is now open to projects in the UK, Australia and elsewhere.

Saul and Josh’s advice for Kickstarter hopefuls:

1. Be creative: Kickstarter is an avenue to gain funding creative and original ideas. You want to stand out from the crowd.
2. Back yourself: You will never know if your idea is a good unless you follow through on it.
3. Research successful campaigns: You can gain helpful tips and hints by studying successful Kickstarter campaigns.

For more information on Kickstarter and to support Saul and Josh’s campaign visit: www.kickstarter/

Other crowdfunding sites worth investigating include: