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The underground venture capital economy

The underground venture capital economy @ The Washington Post.

At a time when the above-ground economy seems to be stuck in perpetual neutral, something very interesting is happening in the underground economy. On do-it-yourself crowd-funding sites like Kickstarter, significant amounts of capital are starting to flow to a group of ingenious projects that bridge the gap between the creative arts and cutting-edge technology — a sweet spot that’s pure money. In some cases, entrepreneurs are raising $100K or $200K at a time — even when they ask for only a fraction of that. In the post-downgrade economy, these instances are proof that a solid business plan, a way to reward passionate supporters and a little DIY mojo goes a long way.

Consider some of the projects that are being funded these days. Two recent crowd favorites include the Desktop Jellyfish Tank, which set out to raise $3,000 and ended up raising more than $100,000 from supporters…

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