November 10, 2012, 7:30 AM — It's one thing to have a good idea for a new piece of software, but raising the funds necessary to bring it to life is a whole separate challenge.
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On Thursday, however, a brand-new crowdfunding site launched that's focused specifically on software. It's called FundaGeek, and it may just be the platform software developers have been waiting for.
Funding for open source
FundaGeek is "devoted to assisting software developers secure funding for their projects," explained the company in its official announcement today. "All areas of software development--Web applications (e-commerce), games, social media apps, open source, mobile apps, traditional 'shrink wrap' software, etc.--can use FundaGeek as a resource to help push forward important innovative projects."
Money raised through FundaGeek can be used for a variety of purposes, including building prototypes, launching a new title, or--in the open source world, for example--adding an important new software feature.
"A commercial developer can first market test a new product idea and then fund development," the company notes.
The video below explains the premise in more detail.
Whereas many crowdfunding sites use the "all or nothing" funding model, meanwhile--through which funding is delivered only if the set funding goal is met--FundaGeek gives project owners whatever funding the project has attracted by the end of the campaign, charging a small fee only if and when money is raised.
FundaGeek's standard fee is 5 percent of the pledge dollars collected, but the optional addition of premium marketing resources increases that to 9 percent.
FundaGeek also offers crowdfunding platforms dedicated to other technical areas, including scientific research.
Now, however, if you've got an idea for a new app or other piece of software, this new platform could be a resource to check out.