Crowdfunding platform for young entrepreneurs focuses on educating
Bali’s Green School is an example of an educational institution putting an emphasis on nurturing the business skills of young people, but with numerous opportunities for entrepreneurs and startups now being offered through online avenues, Piggybackr is a new platform that aims to teach kids about how they can use crowdfunding to get their projects off the ground.
Given that many of the major funding sites such as Kickstarter and Indiegogo don’t allow campaigns run by minors, even young people who are aware of crowdfunding don’t have a chance to try it out for their own moneymaking ideas. Piggybackr is compliant with COPPA, the Children’s Online Privacy Protection Act in the US, by ensuring that users under 14 years old have the approval of a parent or guardian before launching a campaign. Children can also only send out invites to members of their family, school or society, enabling them to use Piggybackr as a place to learn about and experiment with crowdfunding before they’re old enough to launch more serious enterprises. Before users begin their campaign on the site they are offered hints and tips to help make their projects more effective, such as suggested backer incentives and email templates. When a task is completed, the site awards effort points and badges, so even if the projects don’t reach their target, children can still feel a sense of accomplishment.
For children who have known mobile and web devices all of their lives, it makes sense to open up the most current and exciting business possibilities to those willing to explore and learn, so they’re well equipped for the future. Are there other online business models that kids could engage with?