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Crowdfunding is an alternative method to ask funds for a project. The idea is that the accumulated small efforts of many (the crowd) can result in huge projects! But careful, there's crowdfunding and crowdfunding...
There are 4 types of crowdfunding:
- Donation crowdfunding: the public gives funds without expecting anything in return.
- Reward crowdfunding: the public gives funds for a non-financial reward, such as an object or service.
- Lending crowdfunding: the public becomes the creditor (owner of the debt) of the company and expects the reimbursement of any funds advanced with interest.
- Equity crowdfunding: the public becomes a shareholder of the company.
Ulule practices the two former types of crowdfunding, via donation and rewards.
On Ulule, the internet user financing a project ("contributor") receives a non-financial reward that is often proportional to the amount of the contribution. But the contributor may also choose not to receive anything in return. Careful, the contributor will only receive the chosen reward if the project backed reaches its financing target. If not, the project owner does not receive the money and the contributor is automatically reimbursed.
You've got it in one. On Ulule, every crowdfunding campaign must reach 100% of its financing target if the project owner is to receive money. This is what we call the "all or nothing" principle. Because at the end of the day, the aim of Ulule is that all projects should be completed.
Each project submitted to Ulule is studied extensively by their experts available to answer every single of your questions. They will help you improve your project, from its description to highlighting its strong points before it is put on-line.
As a project owner, you must also have a Belgian bank account. That's it! Whether you are a private individual, self-employed, a company or still, a non-profit organisation, you can propose a project on Ulule.
It's relatively easy. Before telling you all about the steps you’ll have to take, it's imperative that you understand that your contribution will only be paid to the project owner if the financial target reaches 100%. If not, your contribution is paid back to you.
This all being said, to finance a project just click on:
- the "Contribute" button on the project page;
- the chosen reward (a list of rewards is available on the project page).
You only need a debit card! But you can also pay with a credit card (Visa & MasterCard).
No. To be eligible, a project on Ulule must:
- prove an entrepreneurial, creative or solidarity objective,
- boast a collective scope, which means that it must benefit other people than the project owner. For example, it's not possible to finance the renovation works of your house on Ulule, although it is possible if you want to transform it to turn it into a day-care centre for toddlers,
- lead to a concrete realisation.
Whereas some platforms will accept every sort of project, regardless of feasibility or quality, Ulule prefers to focus on balance. You can rest assured that every project will be thoroughly analysed by a project manager from Ulule. The project manager will ensure that the project fully responds to the platform's eligibility criteria, will verify the project credibility and that of the project owner.
Ultimately, this moderation proves positive for everyone. Project owners don't lose time in a project without potential and contributors don't waste their time in financing campaigns that have very little chance of ever seeing the light of day.
Have you got an idea? Propose your project on Ulule.