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Slovenian Projects Secured US$ 1.6m Crowdfunding in 2013

Ljubljana, 03 January (STA) - Crowdfunding appears to have come of age in 2013 and Slovenian start-ups have jumped in on the game as nine Slovenian projects raised over US$ 1.6m in crowdsourced funds.

By far the most successful project was Flykly, a smart electricity-powered hub for bicycle wheels, which netted US$ 700,000, over seven times its target.

Three more secured over US$ 200,000, including Chipolo, a smart keychain, Red Pitaya, a measuring instrument for smartphones, and Lumu, a light meter for smartphones.

While the majority of the projects were hi-tech, one was decidedly low-tech, a wooden dildo called Dee Lee Doo that missed its US$ 10,000 target but still raised US$ 4,400.

The crowdfunding success of Slovenian start-ups has motivated several individuals and organisations to set up a domestic crowdfunding platform.

Zavod ZMAG, which is spearheading the effort, expects that the platform will be up and running this year after all regulatory hurdles are cleared.

Project Amount raised Goal Platform Flykly $700,000 $100,000 Kickstarter Chipolo $290,000 $15,000 Kickstarter Red Pitaya $256,000 $50,000 Kickstarter Lumu $244,000 $20,000 Kickstarter Ondu Pinhole $110,000 $10,000 Kickstarter Musguard $45,000 $10,000 Kickstarter EASEbelt $10,000 $30,000 Indiegogo Dee Lee Doo $4,400 $10,000 Indiegogo Twistball $3,200 $10,000 Indiegogo

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