Hero Project in search of some crowd support

'We have completely operational prototypes - the next stop is manufacturing.'

Two local toy consultants have put together a plan to develop and market a new line of action figures based not on sports stars or the latest movie, but the world’s greatest heroes in folklore. It’s called The Hero Project, a new generation of action figures based on traditional heroes. Their first figure is based on the Indian hero Rama. More

To continue reading this article, please do one of the following.



FINANCIAL SERVICES

Hero Project in search of some crowd support

'We have completely operational prototypes - the next stop is manufacturing.'

PBN PHOTO/FRANK MULLIN
A REAL HERO: Wayne Losey is a partner in Dynamo Development Labs Partners, a company looking to fund a new line of traditional action figures.
Posted 8/13/12

Two local toy consultants have put together a plan to develop and market a new line of action figures based not on sports stars or the latest movie, but the world’s greatest heroes in folklore. It’s called The Hero Project, a new generation of action figures based on traditional heroes. Their first figure is based on the Indian hero Rama.

The idea was developed by Go Go Dynamo, a subdivision of Dynamo Development Labs Partners of Pawtucket. “These are so many heroes in the world that really don’t get much attention. Kids don’t even know about them anymore,” said Wayne A. Losey, a partner with the company. He and Tucker Johnson were both experienced designers at Hasbro Inc. and have teamed up on several ventures.

In addition to Rama, the two have hinted at creating the Egyptian god Ra, and American folklore hero John Henry might be next in the series, among others. “We wanted to get the word out in appreciation of these great stories,” said Losey, “and nobody owns them.”

But funding such projects in the early stages is difficult to accomplish. That’s why the company first turned to “crowd funding” Web site Kickstarter.com of New York, in order to judge the public’s interest in the product and attract financial “backers.”

Crowd funding has gained popularity over the last four years. Individuals network and pool their resources, usually by the Internet, to support efforts by other people. It is also used to fund a company by selling small amounts of presale items to many backers.

The company determines how much they need to raise and how long to accept backing, either 30 or 60 days. Each backer – any member of the general public – submits a monetary amount and in turn pre-purchases the product, or a special exclusive gift created specifically for paying backers. It is not a donation nor is it a piece of the company.

Its one fault is that it’s an all-or-nothing venture. If the company achieves its total, the pledges are immediately charged to the backer’s credit cards and the money is used to finance the endeavor. If you fall short, no one is charged and the matter is closed. Funded projects are charged a 5 percent fee for use of the service; those that are unsuccessful are not.

“We have completely operational prototypes – the next stop is manufacturing,” Losey said. “The best thing about Kickstarter is that eventually it’s a way to do presales,” he said.

Next Page
Calendar
PBN Hosted
Events

Two Great Programs...One Great Event. PBN's Annual Celebration of Growth and Innovation is now underway. 2014 applications are now available. Deadline August 1st.
  • Healthiest Employers
    Celebrate with the Healthiest Employers in RI on August 14th at the Providence M ...
  • 40 Under Forty
    Thank you to our sponsors and to all those who attended the 10th Anniversary of ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement