Intel has helped fund TechShop’s relocation from Menlo Park, California. TechShop predicted that they needed $2.5 million to fund their new location in California. This is why TechShop put together $250,000 Indiegogo campaign to help raise the funds.
“We are raising our funding for moving and rebuilding TechShop Menlo Park from a combination of Indiegogo perks and $25,000 loans from individuals. We really have no idea how many loans we will secure, and we don’t know if we will overshoot or undershoot our Indiegogo goal. So because of the sage advice from the folks at Indiegogo, we set the goal on our Indiegogo campaign of $250,000 assuming that we will either overshoot on the Indiegogo funding (which would be awesome), or we will be able to raise $2,250,000 in loans, which is 90 people lending us $25,000 each,” said TechShop on their Indiegogo campaign page.
On Indiegogo, TechShop has raised over $260,000 so far. Intel Corporation signed up as a corporate sponsor with TechShop, which really helped reach the goal.
Intel is not the only corporate sponsor at TechShop. In Detroit, Ford Motor Company helped TechShop open a location in Michigan. Lowe’s helped build a location in Austin, Texas. And a couple government agencies put money into locations for TechShop to open locations in Pittsburgh and D.C.
Intel’s sponsorship money will also go towards creating classes and events centered on the Intel Galileo Arduino board chip.