I have often though that the Kickstarter crowd funding revolution would work well for small companies or individuals in the gun industry. Damien Gibb, the man behind Project Titan, is looking for funding to continue his project to completion.
Damien wrote …
It is with much regret that I have to post this. When we started the project and company back in August of 2011 we had no financial backing. We managed to get this far using our own personal family finances to fund each step of the way.
Sadly, the funding we were hoping to lock in place has not manifested and we simply cannot keep up the pace out of our personal bank account any longer. We have made a lot of sacrifices so that we could attempt or slice of the American pie, but after long debate, the added stress is no longer worth the sacrifices.
We have one last ditch effort in mind, an idea I was very hesitant to try and I am not a fan of soliciting funds from complete strangers. On top of that, a 14 page business plan doesn’t amount to much now a day with local financial institutes because of the economy and the automation of the processes. Back in the day you met with a loan officer and your job was to impress him and show him your idea had merit. Now a day it’s all about what you can put up as backing and credit score. So onto the last ditch idea…
I have setup a GoFundMe.com account and page (oddly, KickStarter.com does not allow any firearm related items) to reach out to the community for funding. There are some rewards tossed in as an additional way to say thanks.
If you are looking for some military proven technology look no further. This message is for those who want something
new, not more recycled inventions of the wheel. The funding site can be located at: http://www.gofundme.com/project-titan
The trick with KickStarter is to offer rewards that will create an incentive for people to donate, but which do not cost a lot. I think Damien is going to struggle to find many people willing to drop $5,000 on upper receiver that has not yet been manufactured, but I wish him the best of luck.