Sponsume
None
Type of site
|
Crowdfunding |
---|---|
Available in | English |
URL | http://www.sponsume.com |
Commercial | Yes |
Launched | August 2010 |
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Sponsume was an online multicurrency crowdfunding platform founded by French entrepreneur Gregory Vincent in 2010. [1] However, it ceased its crowdfunding services in 2014.
History
During his time as a doctoral student at Oxford University , Vincent developed a strong interest in the works of Muhammad Yunus , a pioneering figure in the world of microfinance . Vincent recognised the potential of peer-to-peer microfinance as an alternative method for funding innovative ideas. [2] In 2009, the financial crisis and subsequent cuts to subsidies in the UK arts scene highlighted the need for a community-led approach to fundraising for artists and innovators. This prompted Vincent to establish Sponsume. [3]
Model
The site used the power of social networks and the wisdom of crowds [4] to help fund a variety of projects ranging from films [5] and documentaries , [6] to music , theatre , photography , fashion , technology , scientific [7] research, green and social enterprise . By 2012, Sponsume had helped crowd fund over 1000 campaigns. [8]
Project owners set a funding goal and a deadline for their campaigns. In return for contributions, they offered non-monetary rewards typically related to their projects. [9] The platform charged a 4% fee for campaigns that reached their funding goals, while unsuccessful campaigns incurred a 9% fee.
See also
References
- ↑ O'Hear, Steve (April 28, 2010). "Sponsume lets projects get off the ground with Groupon-style group funding model" . TechCrunch .
- ↑ Hutchinson, Jack (June 2010). "The viral funding model: Sponsume" . AIR . Archived from the original on December 27, 2010.
- ↑ Youngs, Ian (March 28, 2011). "Arts world gets creative in funding crisis" . bbc.co.uk .
- ↑ Gavin, Miranda (May 4, 2011). "Wisdom of crowds: Can crowdfunding help photographers?" . British Journal of Photography . Archived from the original on April 14, 2012.
- ↑ Bustos Sierra, Felipe (January 7, 2011). "Help get the Rocky theme tune into Edinburgh rickshaw film" . Guardian.co.uk .
- ↑ Bulkley, Kate (October 2010). "Is crowd-funding the future for documentaries?" . Guardian.co.uk .
- ↑ Bridge, Mark (July 18, 2012). "Nanobots could turn 'Great Pacific Plastic Patch' into a floating island" .
- ↑ "Successful projects | Sponsume" . www.sponsume.com . Archived from the original on 2011-02-17.
- ↑ Kumar, Naresh (April 30, 2010). "Sponsume: Crowdsourced Project Funding With Benefits" . PSFK .