NZ’s only crowdfunding consultant seeks $1m project
Kat Jenkins, New Zealand’s leading crowdfunding consultant, is currently on the hunt for an individual or a startup that she can work with to create New Zealand’s first million-dollar crowdfunding campaign.
The biggest crowdfunding campaign that our country has seen so far was Genie back in 2012, when Chris Thomson and Ben Ryan, the two Queenstown-based entrepreneurs behind the time lapse device, raised $636,766 of their $150,000 goal. Kat says that she sees potential for a New Zealand startup to exceed that figure.
Kat is the founder of Multitude NZ, a company designed to help people crowdfund their dreams. “I focus on helping clients create a campaign that people want to back,” she says, “then getting it in front of the right people to get it funded.”
The company was started when the experienced creative was looking for her next big move, and had been backing a large number of campaigns on Kickstarter and PledgeMe. It quickly became evident to Kat that a large percentage of those people had good ideas, but lacked strong presentation. With a background in education, film, engineering, and marketing, and research, Kat realised that she had a skill set that would perfectly match a wide range of projects.
At the same time, equity crowdfunding laws were being drafted both in New Zealand and worldwide.
“There was a gap in the market,” Kat says, “and I decided to take the leap and fill it!”
Multitude opened its doors in 2013, and has since run a number of crowdfunding projects. The company boasts a 100% success rate – all projects Multitude has been involved with have reached their funding targets.
“Ultimately, success is still very much on the shoulders of the crowdfunder,” Kat explains. “This is all about your crowd – if you’re not willing to talk to them and actively ask them for money, you won’t succeed.”
“It’s my job to give you the best possible chances by providing the best advice, and step-by-step actions to get you over the line.”
Now the crowdfunding expert has a target of her own – to create a New Zealand-based campaign that receives over $1 million in funding.
Kat says that it would certainly have to fit into one of four categories:
- A game: either RPG or boardgame. “This is the most likely candidate,” Kat adds, “as games have the highest number of million dollar projects.”
- A consumer electronics product – 3D printers, wearable technology, or a small, cheap, “fun” product that captures peoples’ imaginations.
- Something made by one of our super-high profile celebrities – think Lorde’s next album, or the new Peter Jackson film.
- Something that New Zealanders care overwhelmingly about.
New Zealand-made technology has done relatively well in crowdfunding. In 2014, Loomio exceeded their $100,000 goal with their self-hosted campaign for the startup’s decision-making tool. Genie raised over $630,000 on Kickstarter, and meMINI, a wearable camera with a “hindsight” feature, raised $94,300.
“Go in with something to show,” Kat advises entrepreneurs who want to crowdfund their tech builds. “Prototype developments very rarely get the funds as the backers won’t get their hands on your product, app, or software at all.”
“Prove your concept first, then use the crowd to help you scale, stabilise and streamline your product ready for release. Backers make pretty awesome beta-testers.”
“Look at, and back, other projects which are similar,” Kat adds. “Way too many first-time crowdfunders have never backed another project.”
“Nothing will give you a crash course in how to run a campaign like watching someone else’s unfold.”
Do you have a million-dollar idea that could be crowdfunded? Get in touch with Kat by going to the contact page on the Multitude website.
Then get in touch with us so that we can cover your project.