electric bicycle
Local Motors, an early supporter of Crowdsourcing Week has consistently raised the bar on automotive innovation. The company has cultivated a thriving global community of auto-designers, engineers, fabricators and enthusiasts by pioneering an online design and hardware co-creation market.
Through access to low-cost professional tools, efficient small-scale manufacturing capabilities, and go-to-market strategies, Local Motors has sought to empower hobbyist innovators and Original Equipment Manufacturers (OEMs) alike.
Now Local Motors is helping its designers to bring their creations to the market – through crowdfunding!
Local Motors, Inc. recently announced the launch of its first crowdfunding campaign for the Cruiser electric and gas-powered bicycles, designed by Local Motors community member Ianis Vasilatos. In partnership with San Francisco, California-based Crowdtilt, the Local Motors Cruiser crowdfunding campaign is the first step in integrating a fully customizable crowdfunding capability into the CoCreate vehicle innovation platform.”
Local Motors CEO Jay Rogers, acknowledges that as a crowd-powered vehicle innovation marketplace, there are thousands of designs within the Local Motors community that deserve to get to market and this partnership with Crowdtilt is a first step in enabling designs get funded. He adds,
“By integrating crowdfunding capabilities into our platform we will empower our community to deliver a world of vehicle innovations – from full vehicles and portable electric chargers to specialty automotive components – an accelerated pace not possible through traditional vehicle design, development and funding methods.”
This is definitely a growing trend with companies who want to tap into the potential of crowdfunding to sought funding and market validation for projects that would otherwise never see the light of day.