demand out there because product companies are described as more capital intensive.”
For many Kickstarter campaigns, the consumer demand that surfaced far exceeded the initial goals. Like Doublefine, the video game company that set out to raise $400,000 and ultimately corralled $3.3 million or Matter, the tablet magazine project that was targeting $50,000 and pulled in around $140,000.
Ministry of Supply has some other means of support, though. The company was recently selected as one of the 125 finalist companies for MassChallenge and is nearing the close of an angel round under $500,000. Many of the investors, Advani says, decided to put money into the startup after realizing they want to wear the product themselves.
Ultimately, Ministry of Supply hopes to take its design-driven confidence into a number of men’s apparel items and is doing “very early prototypes” of other clothing pieces, Rustagi says.
“We want our customers to be able to go into a variety of situations, and always be confident, super hip, and have some technology under the hood,” says Rustagi.
Just like James Bond, who throughout his movies has gotten his wares from Q. The character is based on an actual person by the name of Charles Fraser-Smith, who worked for the British Special Ops during World War II.
And what was his cover? The British Ministry of Supply.
