Online crowdfunding platform Indiegogo is partnering with electronics component and services provider Arrow Electronics, to create a new “crowdfund-to-production” platform for entrepreneurs, IoT companies, and start-ups interested in using the crowdfunding service to bring a concept technology to the masses, the two companies jointly announced.
Among the benefits entrepreneurs and emerging companies will see from this agreement, Arrow will provide Indiegogo’s qualifying tech campaigns exclusive access to the company’s engineers for technical guidance, as well as the tools, prototype parts, manufacturing support, and supply chain management required to bring the concept technology to full-scale production.
“This is a new model of social funding, innovation, and production in the technology and IoT space,” said Matt Anderson, Chief Digital Officer of Arrow Electronics. “Never before has crowdfunding been integrated into a fully scaled innovation platform spanning collaborative online design, prototype support, production and manufacturing, and supply chain management.”
He added, “We know that these campaigns are turning into exciting new technologies, and our partnership is going change the innovation model. Successfully crowdfunded companies can now scale faster than ever before to bring their product to market.”
Over the past year, Indiegogo has steadily improved its roster of services designed to better assist entrepreneurs in going from an idea scribbled on a napkin to a successfully funded campaign, finally, to an actual, sustainable business. Among some of the more recent products introduced is InDemand, which allows campaigns to continue accepting pre-orders after a campaign has expired, as well as Marketplace, an Indiegogo-sponsored storefront for business owners to sell products that are already shipping.
“This partnership helps makers succeed — it's the perfect marriage of what Indiegogo does on the capital side, and Arrow helps get the products to market,” Tony Aug, vice president and general manager of eCommerce for Arrow Electronics, told Electronic Products at Maker Faire Bay Area 2016. “The process becomes cheaper, better, and faster. And it isn't just about makers — it's a new way for traditional companies to innovate themselves.”
Additionally, partnerships with companies like Brookstone and Amazon have helped entrepreneurs get their products to retail much faster than in years past. The partnership with Arrow Electronics is different in that it is specially designed to serve the increasing number of entrepreneurs and start-ups that are turning to the crowdfunding platform to launch their tech and IoT products.
“We’re very excited as Arrow strengthens our commitment to helping entrepreneurs turn their ideas into products as quickly as possible,” said Indiegogo CEO David Mandelbrot. “We’ve seen an incredible amount of growth among tech and IoT projects on Indiegogo, and we think that’s because we’re developing new ways to help entrepreneurs with support beyond funding, and this Arrow collaboration is a great example of that.”
Launched in 2008, Indiegogo has its headquarters in San Francisco with offices in Los Angeles and New York. Arrow has a global network of more than 460 locations serving over 85 countries.
Read the full press release.
For more information, check out this clip of Matt Anderson and David Mandelbrot discussing the partnership.
For campaigns interested in participating in the Arrow-Indiegogo program, visit arrow.com/indiegogo
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