Sponsume

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Sponsume
Sponsume logo.jpeg
Web address http://www.sponsume.com
Commercial? Yes
Type of site
Crowdfunding
Available in English
Launched August 2010

Sponsume is an online multicurrency crowd funding platform founded by French entrepreneur Gregory Vincent in 2010.[1] Its headquarters are in London, United Kingdom.[2]

History[edit]

As a doctoral student at Oxford University, Vincent developed a keen interest in the works of Muhammad Yunus, a pioneer of microfinance. Vincent saw in peer-to-peer microfinance a brilliant alternative to traditional methods for funding innovative ideas.[3] The 2009 financial crisis and subsequent cuts to subsidies that hit the UK arts scene highlighted the need for an alternative, community-led way of raising funds for artists and innovators, prompting Vincent to launch Sponsume.[4]

Model[edit]

The site uses the power of social networks and the wisdom of crowds[5] to help fund a variety of projects ranging from films[6] and documentaries,[7] to music, theatre, photography, fashion, technology, scientific[8] research, green and social enterprise. As of 2012, Sponsume has helped crowd fund over 1000 campaigns.[9]

Project owners choose a timeframe deadline and a target funding goal. They create non-monetary rewards generally linked to their project.[10] The site levies a 4% fee for successful campaigns and collects 9% for campaigns that failed to reach their target amount.

Notable projects funded on Sponsume[edit]

See also[edit]

References[edit]

External links[edit]