If you want to make any pledge or reward changes this is the best chance to do so! However, remember that anyone who's a patron at the Welcome Home tier will be offered a Starter Deck to be sent to them for free! (We'll be compiling the patron list for this soon and we'll send messages to anyone we don't have the addresses for when we need them) This implies that funders might not get what they paid for or that the delivered goods might not live up to expectations.We're less than a day away from the end of the Astatos crowdfunding campaigns on Kickstarter, FlyingV, and Modian! Before supporting a Kickstarter campaign, so it's vital to understand the terms and conditions before funding a project.Īccording to Kickstarter, about 9% of projects fail to deliver incentives. However, certain campaigns might give backers refunds. Only 36% of projects on the platform actually accomplish their funding targets and receive cash, according to Kickstarter's own data the majority are unsuccessful.ĭo I Get My Money Back If Kickstarter Fails?īackers will not be charged and won't receive any rewards if a Kickstarter campaign falls short of its financial target. Just as investors in the world of startups often look for companies that already have MVPs to invest in, Kickstarter backers should make sure the campaigns they back have already manufactured a working product that is actually viable.įrequently Asked Questions How Many Kickstarter Projects Reach Their Funding Goals? One of the easiest ways to spot a possible Kickstarter failure is by checking to see if it has a working prototype already. Fraud (the product is a scam never actually intended for production).Creators of the project don’t have the required experience or understanding.Components of the final product are bad quality.Bad pricing plan (e.g., the product is being sold too cheap and is expensive to produce).Here are some of the top reasons why Kickstarter projects fail: But, as you saw from the examples above, many Kickstarter projects get fully funded and even surpass their funding goals, only to fail later on. Of course, if people don’t want the product, they won’t back it in the first place, and the project is dead on arrival. It looks like this project was just a scam from the start.Īs with any type of entrepreneurial project, there are many different reasons why a Kickstarter project can fail. When the project shut down, its owner wrote a message blaming backers for destroying their brand and reputation. The thing about which we are most afraid is that there might not be a market for these watches.” It is possible, but not probable that we could become ill, but we're in good health. “There are risks that shipment of watch cases from the vendor could be lost or stolen, but that risk is very small. It is unprofessionally written and ends by saying: Why it failed: If you read the Montrex Watch Project Kickstarter, everything just sounds wrong right from the start. The name “Montrex” was intended to sound like other established watch brands, including Rolex and Timex. In fact, this seems to be the only real special characteristic of the watch which was used for marketing it. What Montrex Watch Project was: The Montrex Watch Project was allegedly a high quality watch brand that was to include sapphire crystal glass on the front and back of the watch. The fact that there was never a functional prototype to start with points to this. While it’s possible that the whole campaign was a scam, it’s more likely that the creators of the CST-01 blew through the money trying to develop the product and couldn’t deliver what they promised, so they chose to disappear instead. However, very little information was ever provided to the backers, who are still without their watches. Why it failed: Updates on the Kickstarter page after the CST-01 watch failed to ship pointed to various manufacturing problems with the watch. Instead, users could set the time from an included base station. The watch was designed to be as minimalistic as possible, with no buttons or knobs on the watch itself. It had an electronic display housed in a single piece of stainless steel wrapped around the wearer’s wrist like a flexible bracelet. What CST-01 was: The CST-01 Kickstarter campaign was launched for an incredibly thin 0.8 mm flexible wristwatch.
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