Why is Dragon running this challenge?

We are dedicated to the success of hardware entrepreneurs. Having worked with hundreds of companies, we know that access to enough capital is critical. Providing additional investment on the heels of a successful campaign will help companies meet deadlines and execute on their goals.

What kind of investment?

Dragon will provide a $100,000 investment in the form of a convertible note. This is a common financial agreement where a loan will convert into equity based on predetermined thresholds. We’ve made the terms as entrepreneur friendly as possible: think Y-Combinator and Techstars as comparable structures.

Do I need to set my funding threshold at $1,000,000?

No. When you work with Dragon, we help you set the right goal and a clear path to success. The intent here is for great products to wildly exceed their goal and get an extra bump from us.

If I just raised a million bucks, why would I need more money?

Crowdfunding will often cover just the costs of initial production, even at high volumes. Many companies need extra operating cushion for expanding the team, sales and marketing, or developing their next product while delivering on the promises made to your backers.

The full note is herefor you to check out.