6 Million Dollar Ideas to Inspire You - Growth Freaks

6 Million Dollar Ideas to Inspire You

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You might say that there has been a boom of million dollar ideas recently. If you have a look at Kickstarter (the famous money-raising platform), you can notice that up until 2012 there was no project to raise $1 million. However, in 2012 there were 17 projects who managed to gain this amount. Not to mention that in the recent years there have been more and more submissions to Kickstarter. But let’s see a couple of million dollar ideas that can inspire you for your next business!

Million Dollar Ideas to Motivate You

1. SmartThings

People are going crazy these days about smart gadgets, so no wonder there are more and more people donating money for such projects. SmartThings is one of these projects. It started out with the goal of raising $250,000 and ended up with $1,209,423. It is, in fact, a smart gadget designed for home automation. You can also integrate it with your office or car, for example.

2. LIFX

LIFX is basically a lightbulb that can be controlled with the help of your smartphone. From what it seems, 9,236 people backed up this project. As such, from the initial goal of $100,000, the team behind it raised $1,314,542. Impressive, right?

3. FORM 1

FORM 1 is an affordable 3D printer that was put up on Kickstarter. It targets professional creators and designers or anybody who might need such a printer in their lives. The idea was a total success, with 2,068 people donating for it. From the original goal of $100,000, the team managed to raise $2,945,885. As such, we can call it a $2 million idea.

4. OUYA

On a market filled with video game consoles, it might seem hard to come up with something new. However, OUYA dared to challenge the market and to offer an affordable video game console that is powered by Android. A number of 63,416 people liked the idea and from a goal of $950,000, the creators raised an astounding $8,596,474.

5. Oculus Rift

Not many people know that the famous Oculus Rift started out as a project on Kickstarter. The popular virtual reality headset for video games had an original goal of $250,000. However, more than 9,500 people thought it was worth it, so they donated $2,437,429 for the idea.

6. Pebble

Pebble might be a familiar name for you. It’s currently the most funded project in the history of Kickstarter and definitely one of the best million dollar ideas. It’s, in fact, a sleek watch that synchronizes with your iPhone/Android smartphone. On the e-paper display, you can see alerts, email, callers, tweets, music, and others. The team started with a goal of $100,000, but 67,770 liked their idea and donated a total amount of $10,182,655.

Conclusion

As you can see, you can go a long way with tech ideas. Of course, there is always the balance between finding the right moment and planning on the best product, as well as some luck.

Naturally, there are lots of other domains where you can come up with a brilliant business idea. Meanwhile, don’t forget to challenge your creativity and your business instinct. Who knows, it could be your project next on the list of the most funded Kickstarter projects!

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Author: Amanda Knowles

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