Crowdsourcing + Crowdfunding = Accelerating Innovation for Local Motors

Written by Priti Ambani

Dec 9, 2013

  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.



About Author

About Author

Priti Ambani

Priti Ambani is the Global Media Director at Crowdsourcing Week, a thought leader and prominent writer on social enterprises, start-ups and web 2.0 businesses. Previously, Priti grew Ecopreneurist, a nascent green business blog into a notable social business resource as site director and managing editor. Working from the ground up, she has developed successful business and communications strategies for impact organizations that aim to create social, environment and economic wealth. Priti is a Professional Engineer and holds a Master’s degree in Biological Resources Engineering from the University of Maryland, College Park.Priti lives in the Washington DC Metro area with her husband and sons, is a lover of the outdoors, traveling and from-scratch cooking!

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