Kickstarter and IndieGoGo are definitely popular names when it comes to crowd funding. But Kickstarter and IndieGoGo are general crowd funding services which support various different kind of projects. In this post we take a look at the not so general, i.e. the ones that are focused on raising funds for a specific type of projects, community or occupation, but seriously determined and popular fund raising services.
Funding Models:
Before we move towards the services, wanted to share a basic information about funding models. Every crowd funding service has a funding model, basically there are 3 types of funding models:
AON (All Or Nothing): in AON model, a fund raising campaign has a limited period, if the fund raising goal is met, then only the money is collected from the contributors, else it is not.
KIA (Keep It All): in KIA model, no matter the fundraising goal is met or not, the money is collected by the entrepreneur running the campaign, in case the goal is not met, the decision is completely on the recipient, whether he would like to refund it back to the contributors or keep it.
BOUNTY: In this model, the amount of funds collected are given to the person who completes the project.
Funding Services:
1) ArtistShare: For many who don’t know, ArtistShare is not new, it’s the oldest among the crowdfunding services. It was the first crowd funding platform, but for music artists.
6 ArtistShare’s projects have received Grammy Awards. You can read the details on their AboutUs Page.
ArtistShare helps artists to get funded by their fans, and the fans in return get access to creative process, LTD Edition recordings, VIP access to events/recording sessions and even credit listing on the final product. It is known for finding the target audience and building the right fanbase for the artist, which helps him or her to grow and make a name for themselves.
ArtistShare Funding Model: KIA
2) Fundable: Just started in 2012, but this one is my favorite. Its an Online funding platform for startups. The best thing about fundable is the ease of use, both for the entrepreneur and the investor investing.
The startup does a simple sign-up and creates its company profile page, giving an overview about the company, its product or services and mission.
The startup can offer either rewards or equity in return for the funding it has received. The terms and conditions will be available for the investors to view.
It can also make the fund raised directly available to the potential investors who can commit funds directly into the company.
There is no fee for building the company profile page. But there’s a flat fee of $99 per month that applies to the during an active fundraising campaign. Whatever money is collected by the startup, belongs to the startup, fundable doesn’t change any kind of share, commission or fee on the fund collected, that will completely be owned by the startup itself. Thats awesome.
Fundbale Funding Model: AON
P.S.: The Fundable Blog is one of the best blogs for startups and entrepreneurs.
3) IAmScientist: Helping Scientists raise funds for their scientific research. The investors in return get some reward, decided by the fund receiver.
It also acts as a social network for the researchers, so they can interact and collaborate if needed.
IAmScientist Funding Model: AON
4) YouCaring: Its crowdfunding for noble causes. This one is truly appreciating. YouCaring is crowd funding for medical expenses, memorials and funerals, education, adoption, mission trips or helping someone in need.
Started with an angelic thought Brock, Naomi and Luke, They don’t charge any kind of fees or share, YouCaring works on pure Keep It All principle, wherein the receiver gets to keep the complete amount raised for the cause.
YouCaring itself is supported by donors from all around the world.
YouCaring Funding Model: KIA
5) CitySourced: This one is really unique. Its a mobile civic engagement platform. They have a CitySource app as well, available for iphone, android, blackberry and windows phones.
Its a beautiful thought of connecting the citizens with the government. It allows people to identify civic issues like public safety, quality of life, environmental issues, etc. and report them to the officials.
This also gives the government officials an opportunity to use the technology and learn about the local issues people are struggling with.
It deserves a blog post. Its something that should be present in every nation and city, because many a times the department doesn’t take things seriously and fails to realize how, correction of minor stuff does help bring peace to the people and surrounding.
Photo Source: Fibonacci Blue
