Kickstarter just had its breakout year with more than $320 million pledged in 2012, triple the amount raised the previous year. There is no doubt that the crowdfunding movement is here, and it will impact the world of product realization.
This breakout year hasn’t been without its growing pains. Of the top 50 funded projects, 84 percent of them failed to ship on time. Many of the hardware ideas struggle during the product development cycle once they’ve blown past their funding goal. Pebble watch, the most successful product to come out of Kickstarter yet, only shipped today after a four-month delay.
The next wildly successful crowdfunded product is just around the corner. Whether you’re the one with the idea or the one interested enough in the idea to help fund it, having knowledge of the product development process goes a long way in ensuring a successful launch. The total product development process is incredibly complex—more complex than most would assume. Check back here in the coming days to see Synapse’s 5 Tips for Kickstarting Product Development as well as a more in-depth breakdown of what it takes to deliver a product from concept to market.