dwiss is Crowdfunding - What, How, Why?

The dwiss is a sustainable bin that makes recycling quick, easy and elegant.

We’re using Indiegogo for raising funds to manufacture and deliver our first large production run. Specifically we need to pay for:

  • Production tools (i.e. a tool that will bend the wood, a tool that will bend the wire for the bag ring, a tool that will cut the packaging to the right shape, a tool that will print on the packaging)

  • Materials

  • Labour

  • Packaging

  • Shipping

  • Sales costs (i.e. Indiegogo's fee, bank charges for processing of online payments)

So we’re asking people to help us raise these funds by donating money in exchange for a reward. The rewards start at $5, for which your contribution is acknowledged in a personal message and on yourdwiss.com, and you’re in with a chance of winning a dwiss. Or you can select a reward that includes a dwiss for $299, which is 40% off! Full details of the rewards will be on our Indiegogo page.

We’re running our campaign from April 2nd to June 1st. When the campaign is complete Indiegogo will forward your donations onto us minus their charges. We’ll use the funds to pay for the items above and complete the production run, before compiling the various reward packages and shipping them to the respective donors.

With the production tools in place we then have the foundation to go on and scale up production of the dwiss, as well as developing a dwiss range that works for everyone. We’re also working with a large scale manufacturing organisation on making a low-cost version from their waste material. This will enable us to partner with local authorities and supply the dwiss as a ‘product as a service’, enabling recycling to be introduced to communities not yet familiar with the practice so we can start to make a real shift towards on a sustainable position on the use of natural resources.

So What is Crowdfunding?

Individuals / groups / organisations / charities (Parties) need funds to complete projects such as a new photography service / music album / product / charitable cause. Historically this meant knocking on the Bank’s door and asking for a lump of cash (and getting it if you were very lucky). Crowdfunding provides a different approach, with many individuals and organisations asked to help out by donating a relatively small amount of money in exchange for:

  • a reward (e.g. a copy of the album being recorded or one of the products being made),

  • equity in the business,

  • interest on the donation made (this is also known as ‘peer-to-peer’ lending),

  • or simply the feel good factor.

How does Crowdfunding work?

  1. The Parties add their projects to crowdfunding platforms such as Kickstarter and Indiegogo, typically in the form of a video with supporting text. They explain what rewards, equity etc. are available in exchange for donations.

  2. The Parties then share their projects using email and social media.

  3. Individuals and organisations review the projects on the crowdfunding platform and donate as they see appropriate by selecting the reward, equity etc. that works for them and providing payment details.

  4. The crowdfunding platform collects the payment and holds it until the campaign ends (they usually run for 30-60 days), at which point they forward the funds onto the Parties minus the platform’s fee.

  5. The Parties then fulfills the rewards, equity deals etc. This may involve using the funds raised to record a music album or manufacture a product, which is then sent to the donor.

  6. At the end of the process the Parties have received their funds and the donors have a received their rewards, equity etc., plus a dose of feel good factor.

Why use Crowdfunding?

From the Parties perspective crowdfunding is often the only way of raising the required funds. Their project may not fall within the Bank’s lending criteria, or may not satisfy the requirements of other sources of finance such as Angel Investors.

From the donor’s perspective crowdfunding is a great way of getting hold of a new product, album etc. first, and often with a fantastic discount. But really it’s more than that, it's about helping your favourite band produce their next album, or supporting the development of a product that you feel will make a positive contribution to the world. It’s the knowledge that you’ve helped something positive happen.

Bella-Rae (aged 6) shares Elephant Box's concern for elephants and uses her 'artistic licence' with spelling.

I’ve donated to a couple of crowdfunding campaigns. One was concerned with developing a website that provides advice on access into public and commercial spaces / buildings for people with mobility issues, e.g. there is a wheelchair ramp into bar X, there are 10 steps to entrance of library Y etc. I can’t remember what the reward was, it just felt good to support someone that had seen a way to help give everyone a fair chance in life and was doing something about it. The other campaign I donated to was Elephant Box. My reward included an Elephant Box (stainless steel lunchbox) with a 20% discount. So I got a great price, a fantastic product that helps me use less plastic, and I helped to start a business that saw a way to help preserve the environment and protect people's’ health and did something about it - win/win/win!

#Crowdfunding #Indiegogo #Rewards #Donors #Equity #ElephantBox