Pozible Co-founders: Alan Crabbe (L) & Rick Chen (R)

After founding Pozible with his Irish counterpart Alan Crabbe in Australia in 2010, Rick Chen, who is Chinese born, helped bring the Melbourne-based crowdfunding site to China last April. Over a one year period, Pozible’s overseas pledges have grown 600%, while its technology category soared 300%, Rick told TechNode.

While the service is widely used by the arts community to raise funding in Australia, Pozible refocused to smart hardware when landing in China. The logic behind this shift is simple. The promise of most foreign crowdfunding sites, like Kickstarter and Indiegogo has always be helping to start a company, or investing in an idea, but the market reality in China is that Chinese people don’t like to bet on uncertainties, rather they prefer to put money in something they can see instant returns on. So smart hardware campaigns become the most popular crowdfunding category in China with guarantee of sexy and attainable gadgets.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.