"Crowdfunding" Project Draws Our Attention With Its Excellent Taste In Saddles.
The two way street that is Benevolent Venture Capitalism has perhaps never been easier to journey upon than it is now. The past few years have seen a proliferation online of various sites where somebody with a business (or recreational) idea can seek investment or financial support to get it off the drawing board.
Typically, an idea has a given amount of time to reach a target figure of donations, and if reached the project will “go live”. Otherwise, the prospective investors get a refund. Usually, depending on the size of the individual investment, there is a return to the donor-investor of some sort.
Last summer we touched briefly on the phenomenon when introducing our readers to the documentary film project “Genre de Vie”. The film made it off the ground with the help of “Crowdfunding”, and will be finished later this year.
But another crowdfunding project has drawn our attention more recently. It is Adam Vollmer’s Faraday Bike. He and his partners have their full story over on Kickstarter .
In brief, they wish to put into full production their prototype electric bicycle, the Faraday, and need a minimum of $100,000 to get things going. The Faraday, incidentally, was a winner at the prestigious Oregon Manifest Design Contest in 2011.
Their attention to detail in the matter of seamlessly maintaining the overall classic look of an upright racked city bike that has been tricked out with state of the art componentry, (and not forgetting, of course, the electric assistance motor running on lightweight lithium batteries) impressed us hugely.
They have gratifyingly seen fit to use Brooks Swifts and Swallows on their prototype models thus far. Having drawn great support on their Kickstarter page from Day One, they are already two thirds of the way to financing a first full production run. We are confident they should meet their target before the clock runs down.
Those interested in getting involved are advised that there are all sorts of fine inducements from Faraday for your pledged dollars. Artworks, T-shirts, wooden mudguards, and even complete Faraday bikes are there for the taking should you judge their excellent venture deserving of your hard earned.