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. Creative individuals and organisations use Sponsume to raise awareness and funds for their projects.[2] The site uses the power of social networks and the wisdom of crowds[3] to help fund a variety of projects ranging from films[4] and documentaries,[5] to music, theatre, photography, fashion, technology, scientific[6] research, green and social enterprise. As of 2012, Sponsume has since inception helped crowd fund over 1000 campaigns [1].

Model[edit]

Project owners choose a timeframe deadline and a target funding goal. They create non-monetary rewards generally linked to their project. It is by selling these rewards to their social network and beyond that creatives raise the funds they need to make their project happen.[7] Unlike many forums for fundraising or investment, Sponsume claims no ownership over the projects and the work they produce.

If the selected funding target is not reached by the deadline, the project owner is still able to keep the collected funds (unlike US site Kickstarter). The site levies a 4% fee for successful campaigns and collects no fee when a campaign fails to meet its funding target (prior to October 2013, Sponsume charged 9% for campaigns that failed to reach their target amount). Unlike US-based crowdfunding sites, Sponsume allows its users to raise funds in a variety of currencies. As of 2012, the site offers multi-currency crowd funding in:

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.[8] 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.[9]

Notable projects funded on Sponsume[edit]

See also[edit]

References[edit]

External links[edit]