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FAQ

General


What's crowdfunding?

CrowdFunding is an alternative way of funding various projects. It is based on the principle of gathering a group of individuals (,,Funders") who support implementation of a project by their voluntary contributions (donations, pledge, investments and loans).


What's a project

In terms of CrowdFunding, a project is an articulated form of a standard format in which authors present their idea, business plan, artistic endeavor, or simply - their need for funding. The project must have a name and purpose and type (,,All-or-Nothing" or ,,Whatever-You-Pledge"), it must be placed in a specific category of humanitarian, non-commercial or commercial character), followed by a brief and detailed description. It must have a clearly defined financial objective, as well as type of funding (grant, funding for reward, investment), and duration - the deadline within which funds are to be collected.


Who can be the author?

The author can be a legal or natural person of age - a registered user with verified PayPal account, who publishes the project on the platform to raise funds for its implementation.


Who can be a funder?

A funder can be any registered user who is funding the project with his or her own resources.


Questions about the platform ideaFunder$


What is the platform ideaFunder$?

IdeaFunder$ CrowdFunding platform has the aim to promote and raise funds for the funding of projects of:

with the aim to make life around us better.


How does the platform ideaFunder$ function?

CrowdFunding platform ideaFunder$ functions as an internet tool for the promotion and funding of projects, open to all users, but in its full capacity it is available only to registered users. Therefore, registered users can edit their profile, send and receive messages, post comments, prepare and set up projects and fund projects, and sale their products on-line at Funder$HOP.


How can I register?

Registration on the platform ideaFunder$ is free and easy. It is launched by clicking the link ,,Register" in the top right corner of the screen (header).

It is required to fill all the fields on the ,,Register" page:

Make sure to select whether to register as a natural or legal person!

If you have completed required fields and press ,,REGISTER" button, your profile is created and system automatically sends you an email with profile activation link.


How much does it cost to publish the project on the platform ideaFunder$?

Registration and publishing the project are free, but it should be noted that the platform charges a fee out of total raised funds. In addition to platform commission there are costs for financial services which are deducted from the raised funds. Detailed information on the scales of fees and costs of financial services can be found at the link ,,Services".


Questions by project authors


What conditions do I have to fulfill in order to post a project on the platform?

Any registered user can post a project on the platform.

It is necessary to fill in all required fields in the ,,START A PROJECT" section and press the ,,NEXT" button. If you forget to fill in some of the fields or you made filling mistakes the system will automatically report an error and you will be unable to post a project unless you correct the error. Since this is a voluminous form to fill, it is possible to fill it partially and save. You can subsequently access and continue filling and/or editing forms. In any case, we recommend that before you begin with on-line filling in the form, you look at the other projects on the platform, and to download document (MS Word) on the page ,,START A PROJECT", along with form and instructions for filling.

After you fill in on-line form and press ,,NEXT" button you are redirected to translation page. There you select language to which you want to translate your project. If your project is originally written in English translation to other languages are not mandatory.

Otherwise, your project must be translated to English.


When will my project be published on the platform ideaFunder$?

Your project will be published on the platform when it is approved by the project audit team. As a rule, within 72 hours from the time you submit the project to the platform, the project audit team reviews your project and if there are no objections, the project is placed on the platform. If your project does not meet the standards of the platform, the administrator will return you the project to be finished, with clearly indicated elements for editing and suggestions on how to do it.


In what language will my project be published?

Your project will be published in the language selected in the form of your profile, ie. in the language you wrote the project. If you want your project to be published in another language supported on the platform ideaFunder$, you can do it yourself on-line after you fill in all fields in basic language or you can send us an e-mail to the address translation@ideafunders.net with an order to translate your project into desired language, at your expense. The platform charges this service in accordance with the translation pricelist (page ,,Services").


Will I be able to change and edit the project after it is placed on the platform?

No. The project which was once set up cannot be changed or edited. If you have any new or additional information, you can enter it in the section ,,Update" of your published project, but it must not be contrary to the basic elements of your project, such as financial purpose, change of reward, type of project and the like.


How long does my project remain on the platform?

Each project remains on the platform permanently, but it is active up to 90 days, i.e. the longest term for fundraising is 90 days.


Can I publish a number of projects on the platform ideaFunder$ at the same time?

No. Every author on the platform ideaFunder$ can only have one active project. Immediately following the completion of one project on the platform, you can publish another project.


How many projects can I publish in one year?

Four. Every single author is allowed to publish up to four projects per year on the platform ideaFunder$.


What could be the financial goal of my project?

Currently all projects are limited to a maximum of 50,000 US$. Crowdfunding is a relatively new mechanism to raise funds and this is one way to get know each other and build confidence. The practice of ,,PayPal" is to set this limit in the initial phase of cooperation with new partners.


Which does the success of my project depend on and will I raise the necessary funds in due time?

The success of any project depends on oneself. It depends on how much you've been devoted to your project. It depends on how you prepared it. It depends on the campaign you run, how many people you've animated, what rewards you offered.


What if my project does not collect the necessary funds within the deadline?

If your project is presented as a project ,,Whatever-You-Pledge", regardless of whether you have met the financial goal, i.e. collected the requested amount, you will get the funds raised net of platform commission and costs of financial services.
If your project is presented as a project ,,All-or-Nothing" and if after the project completion you did not achieve the financial goal, i.e. did not collect the requested amount, you get nothing. But do not despair ... there is probably a reason why Funders inadequately supported your project. Think about it. Reconsider your project and set it up again. Resetting the project is possible after 30 days.


What if my project collected more than the requested amount?

This means that you have well prepared your project and that you made funders interested in your project. All the money that you have collected, net of platform commission and costs of financial services shall be at your disposal.


When will funds be available for me?

For successfull ,,All-or-Nothing" projects upon completion of the project, according to ,,PayPal" rules.

For all ,,Whatever-You-Pledge" projects, according to ,,PayPal" rules.


Questions of project funders


How can I support the project?

By clicking the ,,Support" in the project you will be guided to a page with support options.

Enter the amount of your donation in the ,,Donation" section and click ,,Confirm" to switch to the page of donation recapitulation where you click ,,Donate using PayPal" to get to the secure portal ,,PayPal" where you finish your transaction.

U In the ,,Reward" section choose one of the offered rewards and by clicking ,,Confirm" you switch to the page of cost recapitulation. You need to enter the information on delivery of rewards for financial support, (where you want the reward to be delivered). By clicking ,,Pay using PayPal" you go to the secure ,,PayPal" portal where you end transaction.

In both cases, you are to check if you want your username to be publicly shown or that your support is anonymous to other users of the platform.


When is money withdrawn from my account?

If you support ,,Whatever-You-Pledge" project funds are withdrawn from your account immediately.

If you support ,,All-or-Nothing" project money is reserved and withdrawn from your account only after completion of the project provided that the project was successful, i.e. it achieved financial goal. Otherwise, the funds are not withdrawn from your account.


Who guarantees that the project will be implemented and that I would receive the promised reward?

Author of the project is solely responsible for the realization of their project and delivery of rewards. However, the platform ideaFunder$ establishes a mechanism for monitoring and control of project realization and fulfillment of obligations of the author towards funders. For us, in the platform ideaFunder$, it is very important that the funds raised through the platform are spent for specific purpose as pointed out in authors' projects. We will regularly inform you about the implementation of each project on the platform, in the ,,News" section.

If the authors do not fulfill their obligations towards a funder or inappropriately spend funds their account will be suspended, and information about it is entered in the blacklist of irresponsible authors and shared with all platforms worldwide.
If you have any objection to a project or author, please inform us about it by e-mail to the following address: claims@ideafunders.net