MAGFAST is a crowdfunded startup project. How does it work?
When a company is in the beginning stages of development, it is often difficult to find the proper funding to launch a product/project. That's where crowdfunding comes in.
It's the enthusiasm and support of good people like you who make it possible for innovation to occur. So when you contribute to a crowdfunding campaign by pre-ordering products, the money you spend gets used to develop and produce the products—from launch to shipping.
Many projects would not be possible at all without the concept of crowdfunding, particularly in the electronics sector, where there are many large costs involved. Because people who pull out before shipping have such a terrible impact on the project, we’ve been really clear from the start that folks should only back us if prepared to support us right through.
It's an astonishingly hard thing to do, to create from nothing a company of any kind, let alone one that's taking on this type of project, in this difficult market. But thanks to the enthusiasm of now several thousand supporters who have pre-ordered the MAGFAST Family Pro Kit, we are on track to make the great products we know you'll absolutely love.
That’s the power of crowdfunding!