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For most products, money is required for production. Therefore, if you come up with an idea for an innovative product that solves problems, you must present this idea to others so that they can invest into the idea and realize your product plans. This can be very difficult if you go out to impress particular investors. With Kickstarter, the Internet began to simplify the capital gathering procedure by letting the end users invest in the product or place ‘pre-orders’.

This money is used by the product creators and the apparent middleman, the investor, was eliminated in a way. However Kickstarter does not accept all kinds of projects and products. In such a case you will find Selfstarter to be most helpful.

open source crowdfunding platform

Selfstarter is an open source tool built using Ruby on Rails. This website offers you a framework for collecting funds for your projects and products. The site is ideal for ideas that are unable to secure crowdfunding on other websites. In fact, the site came into being by the people behind the highly successful Lockitron after their idea had been rejected by Kickstarter.

The website offers you a map of the things you must include in your ad hoc crowdfunding website. The site has been configured to collect reservations using Amazon Payments, but you can modify the configuration to choose your own provider too. Most FAQs are answered at the bottom of the site’s page.

selfstarter

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Features:

  • A user friendly web service.
  • Lets you setup your own crowdfunding website.
  • Offers you a template that you can add anything to.
  • Developed using Ruby on Rails.

Check out Selfstarter @ http://selfstarter.us

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