As many of you know, we have chosen the crowdfunding platform Indiegogo to raise the necessary funds to produce the proof-of-concept prototype for Airing. Many of you have asked why we didn't go the more traditional routes like venture capital, selling the company, or finding other investors.
My name is Phil Huyck and I am the Chairman of Airing. I'd like to answer this question because it's an important one.
The short answer is this: we chose Indiegogo over other financing options because crowdfunding is the best way to align the needs of our company and its innovative improvement in CPAP technology with the interests of those who will be the direct beneficiaries, the sufferers of sleep apnea.
We carefully considered all our options.
We held conversations and went through significant due diligence with various potential funding sources. Institutional investors tend to have a short-term time horizon. And, at present, they are sadly not particularly enthusiastic supporters of innovative health care devices.
Crowdfunding was different.
Until the advent of crowdfunding, individuals who could benefit from new technologies like Airing had no say in what was being developed. With crowdfunding, the benefitting constituency can be in voice directly for the first time.
A standard tool in looking at innovation is the optimum risk/reward ratio. Crowdfunding is the right approach and Indiegogo is the right place to achieve that. The financial risk to any individual Airing contributor is small. The reward is large — access to a new life with a convenient and useable treatment for a serious affliction.
Airing’s micro-CPAP device has significant potential long-term benefits for the treatment of tens of millions who suffer from sleep apnea. With our Indiegogo campaign launching next week, you have the chance to help make Airing real for you and your loved ones. The future is in your own hands.