Memory on Hand Hosts a Kickstarter Kick-Off
Memory on Hand, the small two man start-up out of Cambridge, MA, is turning to Kickstarter.com to fund their business. Kickstarter is a new crowd sourcing website that gives entrepreneurs and innovators the ability to fund their projects by asking the general public for their support. Memory on Hand will be hosting a Kickstarter Kickoff Party on Feb. 8 at Meadhall, 4 Cambridge Center from 8pm to 10pm.
Kickstarter exploded in 2011 with over 30 million visitors (8 million in 2010) checking in to peruse the latest projects looking for funding. Nearly a $100 million ($28 million in 2010) was raised in total pledges for the 27,086 projects launched in 2011. Kickstarter offers a viable outlet for funding in this dormant economy with 46% of projects successfully getting funded with some individual projects reaching well into the 100’s of thousands of dollars. A recent project, The Elevation Dock, set a Kickstarter record by raising $165,910 in the first 24 hours of their project launch.
Memory on Hand will be launching its Kickstarter project on February 8, 2012 in order to increase the inventory for their flagship product, the MoH Band, a USB flash drive wristband. The company will be hosting a Kickstarter Kickoff Party the night of Feb 8 from 8pm-10pm at Meadhall (4 Cambridge Center) in Kendall Square to celebrate the launch of their Kickstarter project. The event is open to the public and expects to draw a large crowd from the local start-up community. A perfect networking opportunity for anyone looking get inspired or connected in their own entrepreneurial endeavors.
Memory on Hand was conceived as a college project in 2010 and has been self-funded by partners Andrew Kitzenberg ’10 and Jeff Brayer ’09. Memory on Hand President and Founder, Andrew Kitzenberg depicts the company’s need for funding, “We are feeling the pressure as our growth requires us to continually invest in inventory and operating systems, but fortunately Kickstarter offers us a low hassle route to potential funding.” Hopefully Kickstarter will be a success for Memory on Hand as the company looks to raise $10,000 to invest in new styles and higher levels of inventory. The duo has tapped out their own pockets and those of close family and friends, but they are optimistic as they turn to Kickstarter to raise money: “I am confident we will reach our goal of $10,000”, states Jeff Brayer, head of sales at Memory on Hand. “Realistically I think Kickstarter presents a much larger potential.” A comment from Stephen Resta on Kickstarter’s Blog says it best, “In what has been a difficult period for our economy Kickstarter has re-kindled the ‘American Dream’.”
The local community has fared well on Kickstarter with 343 successfully funded projects from Boston, MA and another 42 funded in Cambridge including Twine, which raised $556,541 on Jan. 3 for their tech communication device. Kickstarter is providing real hope for small businesses and innovative individuals trying to make it big.
Memory on Hand of Cambridge, MA was founded in 2010 to provide consumers with a solution to make their digital files portable, convenient, and stylish. Memory on Hand has not taken on any outside funding and plans to continue to bootstrap their operations as they are currently applying to start-up incubators Mass Challenge, Gen Y Capital Partners and Startup America.
If you would like more information about this topic, or to schedule an interview with Andrew Kitzenberg, please call Memory on Hand at (877) 234-4493 or email at Andrew@MemoryonHand.com