Research indicates that crowdfunding platforms funded more than a million projects thanks to over $2.7 billion in anonymous donations in 2012. This made it possible for many entrepreneurs to obtain proof of concept, early validation of their idea, or to receive pre-orders from potential customers, with the goal in mind to launch their product and start being profitable.
Kickstarter is the #1 crowdfunding website and breaks down its funding projects in 13 categories ranging from gaming and design to photography and technology. Interestingly enough, 5 out of the 10 top-funded design projects in 2013 were wearables devices:
#1. The all-time winner in terms of funds raised is the Pebble SmartWatch. Its developer intended to raise $100,000 and has now reached a total of $10,266,845! The watch is already available in stores such as Best Buy.
#2. The Dash Headphones, a smart device created by a German developer that tracks workout habits and facilitates communication while providing an outstanding audio experience, win the second place with a project funded at 1,120% for a total of $2,912,500 raised.
#3. The wireless Emotiv Insight headset monitor, which monitors brain activity and translates EEG into activable data that is easily understandable, was also successfully funded. Kickstarter helped its developer raise up to $1.6 million.
#8. The Omate TrueSmart wrist watch has raised a bit more than $1 million and was funded at 1,032% of its requested amount. The smart water-resistant watch uses Google Store applications and can also work independently.
#10. Finally, the “world’s smartest watch” Agent, that possesses incredible battery life and allows access to watch apps, has raised as much as $1,012,742.
Today, the public is aware of possible innovations and technological advances that can improve theirhealth, lifestyle, work efficiency and safety. Tech-savvy followers of the wearable bubble want developers to satisfy those needs. By expressing their appetite for futuristic devices and taking part in crowdfunding activities on platforms such as Kickstarter, they allowed wearables to go from geeky fantasy to hot trend in less than a year.