Sponsume: Difference between revisions

Sponsume
Type of site	Crowdfunding
Available in	English
URL	http://www.sponsume.com
Commercial	Yes

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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

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

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

DigVentures – the world's first crowd funded and crowd sourced archeological dig.^[11]
Dirty White Gold – a documentary about the plight of India's cotton farmers.
Belarus Free Theatre – a campaign to help the exiled theatre set up a London office and fight for freedom of speech in Belarus. A number of artists, including actor Kevin Spacey supported the BFT's crowdfunding campaign.
The Halloween Kid – by Axelle Carolyn, James Webber and Neil Marshall – an homage to Halloween, as well as a tale of childhood, loneliness and monsters.
The Occupied Times of London – a non-profit, free newspaper that describes itself as the voice of the Occupy movement.
Spirit of '71 – by David McNulty: a documentary about the first Glastonbury Festival.
Undermining Justice – by Michael Watts: an investigative documentary about human rights abuses allegedly committed by British mining company Monterrico Metals in Peru.
Il Maestro – by Jennie Paddon: a short film about competitiveness in the world of classical musicians.^[12]
Three-Legged Horses and Five Six Seven Eight! by Felipe Bustos Sierra, made with Debasers Filums, two Scottish crowdfunded film projects.
The Salt Maiden – Australian film shot on Coochiemudlo Island, Australia.
Living in the Future – web series documenting the birth and life of the first eco village in the UK.
Plastic Republic – by University College London research students. Synthetic biology project to clean plastic pollution from the oceans using synthetic organisms.^[13]

References

^ O'Hear, Steve (April 28, 2010). "Sponsume lets projects get off the ground with Groupon-style group funding model". TechCrunch.
^ crunchbase.com (April 2010). "Sponsume CrunchBase Profile".
^ Hutchinson, Jack (June 2010). "The viral funding model: Sponsume". AIR. Archived from the original on December 27, 2010. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
^ 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. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
^ 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". .
^ http://www.sponsume.com/projects/successful
^ Kumar, Naresh (April 30, 2010). "Sponsume: Crowdsourced Project Funding With Benefits". PSFK.
^ "Europe's first-ever crowd-funded and crowd-sourced archaeological excavation". Archeological Institute of America.
^ Bridge, Mark (April 23, 2011). "Art-lovers step up to save creative projects". The Times.
^ Bridge, Mark (July 18, 2012). "Nanobots could turn 'Great Pacific Plastic Patch' into a floating island". Wired.

External links

Official website

[1] O'Hear, Steve (April 28, 2010). "Sponsume lets projects get off the ground with Groupon-style group funding model". TechCrunch.

[2] runchbase.com (April 2010). "Sponsume CrunchBase Profile".

[3] Hutchinson, Jack (June 2010). "The viral funding model: Sponsume". AIR. Archived from the original on December 27, 2010. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

[4] Youngs, Ian (March 28, 2011). "Arts world gets creative in funding crisis". bbc.co.uk.

[5] Gavin, Miranda (May 4, 2011). "Wisdom of crowds: Can crowdfunding help photographers?". British Journal of Photography. Archived from the original on April 14, 2012. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

[6] Bustos Sierra, Felipe (January 7, 2011). "Help get the Rocky theme tune into Edinburgh rickshaw film". Guardian.co.uk.

[7] Bulkley, Kate (October 2010). "Is crowd-funding the future for documentaries?". Guardian.co.uk.

[8] Bridge, Mark (July 18, 2012). "Nanobots could turn 'Great Pacific Plastic Patch' into a floating island". .

[9] ttp://www.sponsume.com/projects/successful

[10] Kumar, Naresh (April 30, 2010). "Sponsume: Crowdsourced Project Funding With Benefits". PSFK.

[11] "Europe's first-ever crowd-funded and crowd-sourced archaeological excavation". Archeological Institute of America.

[12] Bridge, Mark (April 23, 2011). "Art-lovers step up to save creative projects". The Times.

[13] Bridge, Mark (July 18, 2012). "Nanobots could turn 'Great Pacific Plastic Patch' into a floating island". Wired.

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 == History ==
-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.<ref>{{cite news |url=http://www.a-n.co.uk/air/article/643190/469392 |title=The viral funding model: Sponsume |work=AIR |last=Hutchinson |first=Jack |date=June 2010 }}{{dead link|date=January 2015}}</ref> 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.<ref>{{cite news |url=http://www.bbc.co.uk/news/entertainment-arts-12596767 |title=Arts world gets creative in funding crisis |work=[[bbc.co.uk]] |last=Youngs |first=Ian |date=March 28, 2011 }}</ref>
+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.<ref>{{cite news|url=http://www.a-n.co.uk/air/article/643190/469392 |title=The viral funding model: Sponsume |work=AIR |last=Hutchinson |first=Jack |date=June 2010 |deadurl=yes |archiveurl=https://web.archive.org/20101227171130/http://www.a-n.co.uk/air/article/643190/469392 |archivedate=December 27, 2010 }}</ref> 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.<ref>{{cite news |url=http://www.bbc.co.uk/news/entertainment-arts-12596767 |title=Arts world gets creative in funding crisis |work=[[bbc.co.uk]] |last=Youngs |first=Ian |date=March 28, 2011 }}</ref>
 == Model ==
-The site uses the power of [[social networks]] and the [[wisdom of crowds]]<ref>{{cite news |url=https://web.archive.org/web/20120414032629/http://www.bjp-online.com/british-journal-of-photography/report/2036705/wisdom-crowds-crowdfunding-help-photographers|title=Wisdom of crowds: Can crowdfunding help photographers? |work=[[British Journal of Photography]] |last=Gavin |first=Miranda |date=May 4, 2011}}</ref> to help fund a variety of projects ranging from [[films]]<ref>{{cite news |url=http://www.guardian.co.uk/edinburgh/2011/jan/07/edinburgh-rickshaw-film-rocky-soundtrack |title=Help get the Rocky theme tune into Edinburgh rickshaw film |work=[[Guardian.co.uk]] |last=Bustos Sierra |first=Felipe |date=January 7, 2011 }}</ref> and [[documentaries]],<ref>{{cite news |url=http://www.guardian.co.uk/sheffield-doc-fest/funding-models-for-film-making |title=Is crowd-funding the future for documentaries? |work=[[Guardian.co.uk]] |last=Bulkley |first=Kate |date=October 2010 }}</ref> to [[music]], [[theatre]], [[photography]], [[fashion]], [[technology]], [[scientific]]<ref>{{cite news |url=http://www.wired.co.uk/news/archive/2012-07/18/nanobots-recycling-plastic |title=Nanobots could turn 'Great Pacific Plastic Patch' into a floating island |work=[[Wired (website)| ]] |last=Bridge |first=Mark |date=July 18, 2012 }}</ref> research, [[green]] and [[social enterprise]]. As of 2012, Sponsume has helped crowd fund over 1000 campaigns.<ref>http://www.sponsume.com/projects/successful</ref>
+The site uses the power of [[social networks]] and the [[wisdom of crowds]]<ref>{{cite news|url=http://www.bjp-online.com/british-journal-of-photography/report/2036705/wisdom-crowds-crowdfunding-help-photographers |title=Wisdom of crowds: Can crowdfunding help photographers? |work=[[British Journal of Photography]] |last=Gavin |first=Miranda |date=May 4, 2011 |deadurl=yes |archiveurl=https://web.archive.org/web/20120414032629/http://www.bjp-online.com/british-journal-of-photography/report/2036705/wisdom-crowds-crowdfunding-help-photographers |archivedate=April 14, 2012 }}</ref> to help fund a variety of projects ranging from [[films]]<ref>{{cite news |url=http://www.guardian.co.uk/edinburgh/2011/jan/07/edinburgh-rickshaw-film-rocky-soundtrack |title=Help get the Rocky theme tune into Edinburgh rickshaw film |work=[[Guardian.co.uk]] |last=Bustos Sierra |first=Felipe |date=January 7, 2011 }}</ref> and [[documentaries]],<ref>{{cite news |url=http://www.guardian.co.uk/sheffield-doc-fest/funding-models-for-film-making |title=Is crowd-funding the future for documentaries? |work=[[Guardian.co.uk]] |last=Bulkley |first=Kate |date=October 2010 }}</ref> to [[music]], [[theatre]], [[photography]], [[fashion]], [[technology]], [[scientific]]<ref>{{cite news |url=http://www.wired.co.uk/news/archive/2012-07/18/nanobots-recycling-plastic |title=Nanobots could turn 'Great Pacific Plastic Patch' into a floating island |work=[[Wired (website)| ]] |last=Bridge |first=Mark |date=July 18, 2012 }}</ref> research, [[green]] and [[social enterprise]]. As of 2012, Sponsume has helped crowd fund over 1000 campaigns.<ref>http://www.sponsume.com/projects/successful</ref>
 Project owners choose a timeframe deadline and a target funding goal. They create non-monetary rewards generally linked to their project.<ref>{{cite news |url=http://www.psfk.com/2010/04/sponsume-crowdsourced-project-funding-with-benefits.html |title=Sponsume: Crowdsourced Project Funding With Benefits |work=PSFK |last=Kumar |first=Naresh |date=April 30, 2010 }}</ref> The site levies a 4% fee for successful campaigns and collects 9% for campaigns that failed to reach their target amount.