More and more people are posting projects on Kickstarter, hoping to get their business ideas funded by peers.But that doesn’t mean their ideas are finding any more success on the crowdfunding site.
In the past six months, the amount of Kickstarter projects posted has grown 50% to 76,909, GigaOm reports.
Less than half of the projects — 44% according to a Kickstarter spokesperson — have successfully meet their monetary goals. And on Kickstarter, it’s an all or nothing deal. If posters don’t raise the full amount of money they’re seeking, they don’t see a dime.
When you think about it, 44% is actually a pretty high success rate. The average fundraising on Kickstarter is between $1,000 and $10,000, so it’s no small amount of cash that’s being swapped between strangers.
In some categories, the likelihood of Kickstarter success is higher than in others.
“Dance” is the most successfully funded category on Kickstarter; 70% of those projects successfully meet their goals. Although projects like the Pebble watch have been wildly successful, the technology category is one of the least successful on Kickstarter. Only about 33% of those projects are funded in full.
Here’s a chart from Gigaom, which breaks down Kickstarter success by category:
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