Kickstarter is a great concept and a wonderful service to help people get the projects realised. But the many restrictions that apply to running a successful project means that a lot of projects are never realised.
Inventor Ric Richardson is developing a Kickstarter campaign approach that allows projects of a much more rudimentary type to be submitted for a campaign because the funds raised are voluntarily kept in a law firms trust account until the customers receive delivery of the promised goods.
The terms of the trust release are clearly published and the a small number of early bird customers are used to verify that the delivered goods are as advertised.
The advantage of the approach is that consumer interest and deposits can be used to justify investment by a professional investor who then bank-rolls the project until funds can be released after delivery to the customers involved.
To see a list of projects that may use this approach click here
If you are a law firm looking to help run the trust accounts or an early stage or seed investor wanting to participate please email Ric’s assistant Lara at mailto:Lara@r2labs.com