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Funding Software Development in 2013 with FundaGeek

By SiliconIndia  |   Tuesday, 22 January 2013, 21:32 Hrs
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Bangalore: As software developers around the country optimistically approach the new year and plan out budgets for building new products,  continued economic challenges are an unfortunate reality of the software industry. Crowdfunding with FundaGeek represents an excellent opportunity to supplement current funding sources for software developers, and in some cases may become a vital funding source to breathe life into new initiatives. The FundaGeek Software Development Portal site: www.fundageek.com/software is devoted to assisting software developers secure funding for a broad variety of projects. Software developers in all related areas – traditional "shrink-wrap" software, web-based applications, open source software, mobile apps, video games, etc., – can use FundaGeek as a resource to help push forward important innovative projects.

FundaGeek’s CEO and Co-Founder Daniel D. Gutierrez says “Software development is a very important beneficiary of the crowdfunding ecosystem. New development budgets are being delayed and in many cases cut altogether. Innovation in software needs new funding options. With FundaGeek, we provide a vehicle for funding software development.”

Crowdfunding is a funding mechanism utilizing the power of crowds through social media. Using social networks, software developers can solicit personal donations in order to fund the budget of their projects. With crowdfunding you raise the needed funds by offering ‘Rewards’ in exchange for ‘Pledges’. Think of NPR or PBS pledge drives where a large number of donors pledge small amounts in return for simple rewards.

The use of the funds from a crowdfunding campaign can be varied. Software developers can post a crowdfunding project on FundaGeek to raise funds for a new product, a new version of an existing product, and much more.

Unlike most crowdfunding sites that use the “all or nothing” funding model where funding is provided only if the goal amount is met, FundaGeek views projects very differently. Software developers get whatever funding the project has attracted by the end of the campaign. There are no up-front fees to use FundaGeek.

FundaGeek is a crowdfunding platform expressly for software, technology, scientific research, inventions, community support and education. In the past several years, crowdfunding has seen tremendous interest from creative people in the arts, music and film, but now with FundaGeek, software development can be funded using crowdfunding techniques.

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