Let's correct some of your assertions:
1.) Adapteva raised $1.5M from a small board business (not a VC) because it couldn't get a VC investor.
2.) A "well funded" semiconductor is one that takes in $100M like Calxeda. Adapteva has done "more with less" than any chip company in history.
3.) Adapteva is a chip company. The Parallella project is not an "R&D effort" it's about bringing the cost down for an open board product that the developers clearly want and that the industry needs.
4.) Adapteva has talked to >50 large institutional investors. Mostly they are either afraid of going up against Intel, Nvidia or they flat out don't invest in chips.
5.) Kickstarter is not just for non-profits.
First, I didn't mean to sound quite so negative on your project. I actually hope you succeed. If this is something the industry needs, I have no doubt you'll be a wild success.
I just take issue with raising money from unsophisticated unaccredited investors without even providing complete disclosure or binding contracts in return. I know a lot of companies do it, and I dislike it in those cases too. I also know I'm in the minority here and that it's only a matter of time before companies with huge VC backing & public companies are using Kickstarter to raise money. I think that's a bad thing, but others disagree.
Also, quickly:
- I'm not against for-profits using Kickstarter; most of the efforts there are for-profits. But companies that have raised millions of dollars probably should disclose that fact prominently in their campaigns.
- Similarly, the fact that you've been denied investment by >50 institutional investors is relevant in asking for money. It might be positive for some, negative for some. But it's likely not going to be a no-op for most.
- My figures come straight from Crunchbase, I'm not more connected than that.
