CROWDFUNDING STRATEGIES FOR PATENTS AND NEW PRODUCT IDEA INVENTIONS

Crowdfunding is a method of raising small amounts of capital from a large group of people typically online to support a project invention or business venture. For patent holders and inventors crowdfunding offers a unique opportunity to fund development validate market interest and attract potential licensees or investors.

​

DEFINING YOUR FUNDING OBJECTIVES

​

Before launching a crowdfunding campaign clearly define your objectives. Are you raising funds to develop a prototype conduct market research or bring a licensed invention to market? Establish a realistic funding target that accounts for production costs marketing legal fees patent maintenance and platform fees. A well-defined goal communicates seriousness and professionalism which is critical to attracting backers and potential partners.

​

SELECTING THE RIGHT CROWDFUNDING PLATFORM

​

Choosing the right platform is essential to reach your target audience effectively. Kickstarter is ideal for creative inventions and physical products. Indiegogo provides flexibility for both entrepreneurial and experimental projects. GoFundMe is best suited for charitable or personal initiatives. Equity crowdfunding platforms like SeedInvest or Crowdcube are suitable if you are offering shares or revenue participation in your invention. Evaluate each platform’s reach fees audience type and funding model to ensure alignment with your project goals.

​

CRAFTING A COMPELLING PATENT STORY

​

Your campaign should clearly explain the unique value of your invention and the problem it solves. Highlight the patented technology and its competitive advantage. Use simple language to describe complex innovations so that non-expert backers can understand the benefits. Incorporate visuals such as prototype images diagrams and videos to demonstrate functionality and make your invention tangible.

​

HIGHLIGHTING THE LICENSING POTENTIAL

​

For patented inventions emphasising licensing opportunities can attract investors or companies interested in commercialising your idea. Explain the potential markets scalability and revenue streams. Outline how licensing agreements could work and why early backers or partners should get involved now. This positions your campaign not only as a fundraising effort but also as a strategic investment opportunity.

​

OFFERING INCENTIVES AND REWARDS

​

Tiered incentives encourage backers to contribute at different levels. Offer early access prototype units exclusive updates or recognition in marketing materials. Ensure that rewards are relevant to your invention and feasible to fulfil. Overpromising or creating complex reward tiers can jeopardise campaign success.

​

BUILDING ONLINE PRESENCE AND COMMUNITY

​

A strong online presence is critical to a successful campaign. Use social media platforms like LinkedIn Instagram Twitter and YouTube to share your story and engage potential backers. Develop email campaigns to reach early supporters and investors. Collaborate with industry influencers or organisations aligned with your invention to extend reach and credibility. Engage consistently with your audience to build trust and loyalty.

​

LEVERAGING MEDIA AND PUBLIC RELATIONS

​

Media exposure can enhance credibility and reach. Target journalists bloggers and industry publications that focus on innovation patents and startups. Guest posts interviews and features can introduce your invention to new audiences and attract potential licensees or partners. PR campaigns are particularly effective in showcasing patented technology and creating a sense of urgency for investment.

​

MAINTAINING TRANSPARENCY AND FOLLOW THROUGH

​

Transparency is critical when dealing with patented inventions. Update backers regularly on development progress manufacturing milestones and licensing discussions. Deliver promised rewards promptly and maintain communication after the campaign ends. Post-campaign engagement helps establish long-term credibility and opens doors for future collaborations or licensing deals.

​

KEY STRATEGIES FOR SUCCESS

​

Start with a network of supporters who are likely to share your campaign. Set achievable funding goals that reflect realistic development and marketing costs. Focus on trust and credibility emphasising your patent and the invention’s uniqueness. Engage your community early and continuously leveraging both storytelling and proof of concept to attract backers and potential licensees.

​

Crowdfunding for patented inventions is not just a funding strategy. It is a way to validate market demand attract strategic partners and build momentum for commercialisation. With careful planning compelling communication and proactive engagement patent holders can transform crowdfunding campaigns into both financial support and valuable business opportunities.

​