Frequently Asked Questions
1. Your crowdfunding campaign
Creators post a short video about their project up on the site. The video pitch tells the public what the project is about, why people should back it, and what they'll get in return.
Next, creators come up with a series of rewards to incentivise people to back their project.
Lastly, they direct fans, friends and family to their Sponsume page and encourage them to buy one of the rewards.
Campaign creators effectively sell rewards to fund their project.
It's by selling rewards linked to their project that creators raise the funds they need. People may buy your campaign rewards because they like you, your project or the rewards you offer…
So think carefully about your public and the rewards they’d like to see. There are so many ways of rewarding your supporters! For instance, you may offer a discount on your product, the right to be an extra in your film, early release of your product to backers, VIP tickets, dinner with you and your team, the right to choose the bands invited to your festival… Check live projects to see what they offer.
Once sold a reward becomes legally binding: the project owner must either deliver the promised reward within a reasonable amount of time or refund the backers.
Just fill in our online application form. It’s free to apply and there are no subscription fees.
Bear in mind you don’t have to fill your online form all at once. You may save it and get back to it later.
We require: 1) a video pitch, 2) a PayPal account, 3) a main funding target (and, should you choose to, a minimum funding target too), 4) a summary of your project, 5) rewards for your backers, and 6) a copy of your ID (passport, driving licence, or national identity card).
2. Your funds
Set up a PayPal account to be able to receive your backers’ contributions. Once your campaign is published, funds are instantly sent to your PayPal account each time a project reward is sold.
You can choose to keep the funds whether your campaign’s optimum funding target is met or not.
However to be able to access the funds, your campaign must have hit its minimum funding target (should you choose to add one). You do not necessarily have to set a minimum funding target for your campaign.
- It doesn't cost anything to create a campaign.
- There are no subscription fees either.
- No fees apply when a campaign fails to hit its minimum funding target.
- When a campaign hits its minimum funding target, Sponsume charge 5% of the funds collected.
On Sponsume you can set 2 different types of funding target:
1 - Optimum funding target:
- That's just the funds you would like to raise.
- You do not have to hit your optimium funding target to access your funds
- You have to choose an optimum funding target for your campaign (i.e. compulsory)
2 - Minimum funding target:
- That's the absolute minimum amount you need for your project to go ahead
- You have to hit your minimum funding target to be able to access your funds
- You do not necessarily have to set a minimum funding target for your campaign (i.e. not compulsory)