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Crowdfunding represents nothing less than a paradigm shift in technology development. This alternative to traditional fundraising allows an entrepreneur to pitch an idea directly to the public, test the market’s response, and independently gather seed money. Thanks to the power of social networking, innovations that may have otherwise been rejected by CEOs, or big-name venture capitalists, can now raise thousands (or even millions) of dollars. Never before has the public had such a voice in deciding what products will be developed, and never before have consumers played such a major role in the birth of invention. But while crowdfunding success stories abound, there have also been plenty of tales of heartache and headaches. This two-part article discusses some of the important concerns that we at WHGC believe should be addressed before any inventor attempts to crowdfund. 

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