Crowd Funding Project Based on Build of New Phone Model

This report examines a crowdfunding project centered around the development of a new phone model, specifically the Light Phone 2, using the Indiegogo platform. It delves into the concept of crowdfunding, its impact on innovative ideas, and the evaluation of crowdfunding campaigns. The report discusses the people behind such campaigns, the guarantees of success, and the reasons for using crowdfunding for phone development. It analyzes the impact of Indiegogo on the project, including funding types and the importance of transparency and clear goals. The development stages, from concept to production, are outlined, highlighting the benefits of crowdfunding for gauging interest and gathering user feedback. The report emphasizes the importance of stakeholder review, risk assessment, and the use of tools to redefine the operating system for a simpler user experience, ultimately aiming to provide insights into the crowdfunding process and its role in bringing innovative products to market. The report also highlights the significance of the Light Phone 2's features, such as messaging, e-ink display, and essential tools, while keeping simplicity at the forefront of the device's design.

Running head: CROWD FUNDING PROJECT BASED ON BUILD OF NEW PHONE
MODEL
Crowd Funding Project Based On Build of New Phone Model
Name of the Student
Name of the University
Author’s note

1CROWD FUNDING PROJECT BASED ON BUILD OF NEW PHONE MODEL
Table of Contents
1. Introduction..................................................................................................................................2
2. Discussion....................................................................................................................................2
2.1 Impact of Crowdfunding on an Innovative Idea....................................................................3
2.2 Evaluation of a Crowdfunding Campaign.............................................................................4
2.3 People behind the Campaign.................................................................................................4
2.4 Guarantee of Success of Campaigns based on Crowdfunding..............................................5
2.5 Development of a New Phone Model based on Crowdfunding Websites.............................5
2.6 Reasons of Using Crowdfunding for Development of the New Phone Model.....................6
2.7 Impact of Indiegogo on the Development of Project.............................................................7
2.8 Important Technological Developments based on Crowdfunding........................................7
3. Conclusion...................................................................................................................................8
4. References....................................................................................................................................9

2CROWD FUNDING PROJECT BASED ON BUILD OF NEW PHONE MODEL
1. Introduction
Crowdfunding could be defined as a cooperative effort of several individuals. These
individuals are primarily responsible for developing a network with other individuals and thus
form a pool of resources. This would be highly useful for supporting the efforts that would be
initiated by different people or various established organizations for the purpose of developing a
new project (Adena & Huck, 2017). There are several kinds of individual projects and businesses
that would be financed by various contributors that could belong to different individuals. This
would allow entrepreneurs, innovators and different business owners for the purpose of utilising
the social networks in order to raise capital. In the recent times, the internet is the most important
platform that would mostly help for the rise of the crowdfunding industry (Cholakova &
Clarysse, 2015). Different businesses and entrepreneurs make varied use of the crowd for the
purpose of obtaining ideas, collection of money and thus putting solicited input based on putting
input on the concerned product. In some other words
2. Discussion
The idea of crowdfunding could be defined as the initiation of an idea for the purpose of
creation of a product or service. Any form of company irrespective of their nature could seek
funds from various potential investors. In the previous times, the fundamental use of raising of
money was difficult. People with innovative ideas had to wait for the right investors who would
be able to understand the importance of the idea and thus would help in providing of funds
(Agrawal, Catalini & Goldfarb, 2014).
With the advent of crowdfunding and the open source platforms based on the Internet
technology, it has been useful for people to raise a considerable amount of money. This money

3CROWD FUNDING PROJECT BASED ON BUILD OF NEW PHONE MODEL
could be utilized to be put on stake for the benefits and growth of the organisation. As the growth
of the company would increase based on the correctness of the project, the company would
prosper and thus the investors would earn a lot. The use of crowdfunding could also be used for
raising funds for a number of other serious issues such as raising money, fund different projects
and thus help different entrepreneurs for developing their ideas (Burtch, Ghose & Wattal, 2013).
2.1 Impact of Crowdfunding on an Innovative Idea
This report focuses on the benefits of crowdfunding for developing a new model of
phone. Crowdfunding could be performed with the help of different websites based on
crowdfunding. Some of the websites that support the idea of crowdfunding are Kickstarter,
Indiegogo and many others. These kinds of websites are mainly made use of supporting various
businesses and entrepreneurs for putting forward their ideas and thud developing them (Agrawal,
Catalini & Goldfarb, 2014).
(Fig 1: Indiegogo Homepage depicting Crowdfunding Approach)
In this project, the crowdfunding website that would be selected is Indiegogo. The
website focuses on the build of a phone model, which is Light Phone 2. The impact of

4CROWD FUNDING PROJECT BASED ON BUILD OF NEW PHONE MODEL
crowdfunding based on Indiegogo would be helpful for empowering people for uniting with the
ideas that would be put forward and could be a matter for the investors (Scholz, 2015). People
from different backgrounds could make use of the website for supporting their cause in order to
get inspired. The impact of crowdfunding would be able to generate various kinds of exhilarating
opportunities for backend developers and entrepreneurs. Based on the idea of crowdfunding, the
people within the background should be very much aware about the necessary facts that would
be needed in order to proceed with their required projects. It would be important to understand
that the purpose of backing a project campaign would be extremely different for purchasing an
item from an online website (Kuppuswamy & Bayus, 2018). Supporting of an idea based on
crowdfunding on a platform such as Indiegogo would be meaning that a work would be in
progress based on an idea, project or any such cause.
2.2 Evaluation of a Crowdfunding Campaign
In order to make a campaign to get succeeded, the team should have a high thoughtful
pitch that would be able to clear the ideas based on raising of funds. This would highly be
needed based on moving the project in the right direction. The campaigns should be highly
transparent and should have a clear form of focus on the goals and status of the project (Hui,
Greenberg & Gerber, 2014). These would be highly necessary in order to attract contributors
who would be responsible for contributing of money towards the project and thus developing of
new kinds of ideas.
2.3 People behind the Campaign
Different kinds of successful projects would normally require a secure form of base of
funding who would be able to understand the meaning of the project. The stakeholders within the
project should be able to review the information regarding the owner of the campaign. They

5CROWD FUNDING PROJECT BASED ON BUILD OF NEW PHONE MODEL
should also be able to perform review based on the previous experiences of the campaign owner
of crowdfunding (Beaulieu, Sarker & Sarker, 2015). The stakeholders would also be able to
perform a review based on past projects. The investors based on crowdfunding should also
perform a quick research based on the innovative project, name of the company, their owners
and the different related team members. They should also gather vast form of information about
the owners who would be able to perform business activities. The crowdfunding website based
on Indiegogo should have a comprehensive system. The system would be able to protect
contributors from performing fraudulent campaigns (Josefy et al., 2017).
2.4 Guarantee of Success of Campaigns based on Crowdfunding
The website of Indiegogo would not be able to guarantee that the projects of different
organizations or companies would either succeed. Based on the contribution provided by
different stakeholders within the project, they should be able to support the idea of the company
or the project. Based on the development stages of the project, the stakeholders should be able to
accept different kinds of risks that would be oncoming on the project (Xu et al., 2014). They
should also be able to experience any form of changes that might affect the project. Indiegogo
would not be able to provide guarantee regarding the success regarding the project.
2.5 Development of a New Phone Model based on Crowdfunding Websites
This report is based on the development of a new model of phone, which would be
named as Light Phone 2. The Light Phone 2 is a form of simple 4G phone that would have
different facilities that would be able to perform functionalities such as messaging, e-ink, alarm
clock and also support various forms of essential tools. The Light Phone 2 would have a
beautiful kind of white and black display. The phone would be much more durable, reliable and
is a practical phone (Light Phone 2, 2018).

6CROWD FUNDING PROJECT BASED ON BUILD OF NEW PHONE MODEL
There should be an extreme usage of tools that would be able to redefine the Operating
System and thus change the experience of the people. In the recent times, the OS of the
smartphones would be mainly be dependent on various OS such as Android or iOS. These have
led to the adding of new kinds of layers of complexity based on the usability cost. The use of
Light OS would make use of implemented tools that would have physical buttons for scrolling
through the customized toolbox (Pierrakis & Collins, 2013). The developers of the new model of
phone should be able to keep simplicity at the heart of the device. The developers of the new
model of phone should be able to easily dial a number. They should also be able to bring up a
contact based on the speed dial and thus would also be able to send quick form of messages.
The ideas that should be presented by the developers of the phone should be extremely
innovative. This would attract the investors and the stakeholders and they would hence be
interested for investing within the project. The different stages within the product development
stages would be helpful for the backend developers for discovering campaigns during the
development of the product. The development stages of the product would include different
kinds of steps such as developing of the concept (Frączkiewicz-Wronka & Wronka-Pośpiech,
2014). This would include the use of mock-ups or the use of 3D renderings, which would be able
to demonstrate the appearance of the model of the phone or the functionality. The next step of
the development of the model of the phone would include the use of developing of a prototype
model. During the prototype stage, the organizations would be responsible for developing a
working version of the physical model of the phone. The prototyping stage should also be able to
demonstrate the functionality of the final model and of the phone.
The next step would be defined as the production stage. This stage would have a working
version of the physical product that would be developed in the later stages. The production stage

7CROWD FUNDING PROJECT BASED ON BUILD OF NEW PHONE MODEL
would be able to put light on the present production stage. This would be supported by images
and video representation. This would be able to help the stakeholders for better understanding of
the product and thus be able to put better impacts on the model.
2.6 Reasons of Using Crowdfunding for Development of the New Phone Model
The development of a new model of phone would need a huge raising of funds based on
developing a phone model and thus be able to promote it. These funds would be needed for the
proper form if development of the phone without any form of difficulties. The new phone model
would need the attention of the masses. This would enhance the profitability of the company or
the developer as they would succeed in their objectives (Cordova, Dolci & Gianfrate, 2015). The
posting of advertisements on the various kinds of crowdfunding platforms would be helpful for
gauging interest. Based on the project, the developers of the phone would need the feedback of
the end users. They would be able to provide better kinds of feedbacks as they would be able to
improve the quality of their products.
2.7 Impact of Indiegogo on the Development of Project
The impact of the crowdfunding platforms such as Indiegogo would provide flexibility to
the developers, as they would be able to raise funds from the crowds or public. Putting an impact
on the people would be a major task before the developers. The best form of funding type would
be meant for benefiting the project (Wheat et al., 2013). Indiegogo provides the best kinds of
funding types based on helping the people who would be developing the project. The website
supports the best forms of types of funding such as:
 Fixed Funding – In this form of funding, the contributions would be refunded if the set
goals would not be achieved.

8CROWD FUNDING PROJECT BASED ON BUILD OF NEW PHONE MODEL
 Flexible Funding – In this kind of funding, the investors would keep the funds that
would be raised within a certain date even if the developers would not reach a certain
goal.
2.8 Important Technological Developments based on Crowdfunding
With the vast form of developments based on crowdfunding by Indiegogo, it could be
confirmed that the successful development of the phone model would lead to various forms of
opportunities before the people. The four kinds of opportunities that could impact the rise of
crowdfunding include:
 Making of money with a click – The project would be ensured with the aid of secure of
crowdfunding platforms. These would be equipped with low-cost payments and secure
systems that would include Amazon Flexible Payments and PayPal.
 Data Analysis – Social networking platforms would be of a much help for the
promotion of the project. This would help in reaching to a vast number of public as they
would be able to gather an in-depth analysis of the flow of traffic within the website
campaigning the project. This would also enhance the number of visitors on the page
(Muller et al., 2013).
3. Conclusion
Based on the discussion from the above report, it could be concluded that crowdfunding
could be able to support for the benefits of the proposed framework of the project. This would
include a relation with the investors and stakeholders who would be able to provide backup for
the benefits of the project. The generation of funds from the public would need a best form of
relationship with the customers. Satisfying the customers would eventually lead to the benefits

9CROWD FUNDING PROJECT BASED ON BUILD OF NEW PHONE MODEL
for the funding of the project. The impact of technical and social platforms would lead to the vast
form of benefits for the project. Hence, it could be concluded that crowdfunding could be of a
major help for building of a project and thus gain profits from them.

10CROWD FUNDING PROJECT BASED ON BUILD OF NEW PHONE MODEL
4. References
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consequences of contribution patterns in crowd-funded markets. Information Systems
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Cholakova, M., & Clarysse, B. (2015). Does the possibility to make equity investments in
crowdfunding projects crowd out reward‐based investments?. Entrepreneurship Theory
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Frączkiewicz-Wronka, A., & Wronka-Pośpiech, M. (2014). The use of ICT for achieving the
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