Some of the most well-known projects began their journey through a crowdfunding platform, including Exploding Kittens, Brewdog, and Soylent; showing that the power of people can be enough to get an idea off the ground.
Which capital city is your business idea most likely to thrive in? Money.co.uk analysed Kickstarter campaigns between 2016 and 2021 – considering success or failure rate, number of backers and amount of capital – in capital cities around the world and ranked each out of 10.
The results (Top 10)
| Capital city (country) | Success rate score (/10) | Number of backers score (/10) | Capital raised score (/10) | Final score (/10) | |
|---|---|---|---|---|---|
| 1 | Taipei (Taiwan) | 8.4 | 9.5 | 10 | 9.3 |
| 2 | Warsaw (Poland) | 7.2 | 10 | 9.5 | 8.9 |
| 3 | Seoul (South Korea) | 6.9 | 8.7 | 9.1 | 8.2 |
| 4 | Kyiv (Ukraine) | 6.3 | 9.1 | 8.2 | 7.9 |
| 5 | Hong Kong (Hong Kong) | 7.6 | 7.8 | 7.8 | 7.7 |
| 6 | Stockholm (Sweden) | 6.1 | 8.2 | 7.3 | 7.2 |
| 7 | Zurich (Switzerland) | 4.7 | 7.3 | 8.7 | 6.9 |
| 8 | Tokyo (Japan) | 6.6 | 6.9 | 6.5 | 6.6 |
| 9 | Amsterdam (Netherlands) | 5.3 | 6 | 6.9 | 6.1 |
| 10 | Oslo (Norway) | 5.1 | 4.7 | 6.0 | 5.3 |
For the complete data of the 25 cities analysed, please go here.
#1 Taipei
Taipei leads the rankings as the capital city with the most successful Kickstarter campaigns, with a ranking of 9.3 out of 10. To achieve this score, the Taiwanese capital was awarded 8.4 out of 10 for the success rate of campaigns and raised a whopping $12.4 million by backers, making this the best city in the world to launch a campaign.
#2 Warsaw
Warsaw comes in second place with an average score of 8.9 out of 10. The capital of Poland scored a 7.2 for average success rates, as well as the highest median number of backers in all cities analysed (scoring 10/10).
#10 Oslo
In 10th place is Oslo with a score of 5.3 out of 10. Norway’s capital scored just 5.1 for the campaign success rate, meaning almost half of the campaigns were unsuccessful. They also were awarded a score of 4.7 for the number of backers, however, Oslo did fare slightly better with the median amount of money raised, with a score of 6.
Salman Haqqi, a spokesperson from money.co.uk offered guidance on using crowdfunding to generate investment for your business idea
- Target your message: Every good marketing campaign has a targeted message. In order for your crowdfunding campaign to work, it needs to be targeted to a specific audience. Identify who your idea will appeal to best and ensure that the advertising copy speaks to their particular want or need.
- Build a community before crowdfunding: Before you launch your campaign, it’s crucial that you have some existing contacts interested in your product, which can be done through an email campaign, social media, or surveys to get your message across before you get the ball rolling. People will be more inclined to back your product if there’s already some existing interest.
- Look what’s out there: Research into existing crowdfunding campaigns to get an eye for what is needed for a successful campaign. Have you got a video of your product or a clear reason why people would want to back it? Have you looked at competitors to see how they are selling their products? Research is key to success.
- Plan beforehand: Studies show that running a full-time crowdfunding campaign will take from three to six months of planning, coordination and execution. It is essential that you plan effectively to give your project the optimum chance of success.
All Inclusive
Luksusowy kwartalnik turystyczno-podróżniczy. Od 2004 roku opisujemy miejsca, do których warto lecieć dłużej niż na weekend, i ludzi, którzy je prowadzą.
