Sponsume

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Sponsume
Sponsume logo.jpeg
Type of site
Crowdfunding
Available inEnglish
URLhttp://www.sponsume.com
CommercialYes
LaunchedAugust 2010

Sponsume was an online multicurrency crowd funding platform founded by French entrepreneur Gregory Vincent in 2010.[1] It stopped crowd funding services in 2014.

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.[2] 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.[3]

Model[]

The site used the power of social networks and the wisdom of crowds[4] to help fund a variety of projects ranging from films[5] and documentaries,[6] to music, theatre, photography, fashion, technology, scientific[7] research, green and social enterprise. As of 2012, Sponsume has helped crowd fund over 1000 campaigns.[8]

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

See also[]

  • Comparison of crowd funding services

References[]

  1. ^ O'Hear, Steve (April 28, 2010). "Sponsume lets projects get off the ground with Groupon-style group funding model". TechCrunch.
  2. ^ Hutchinson, Jack (June 2010). "The viral funding model: Sponsume". AIR. Archived from the original on December 27, 2010.
  3. ^ Youngs, Ian (March 28, 2011). "Arts world gets creative in funding crisis". bbc.co.uk.
  4. ^ Gavin, Miranda (May 4, 2011). "Wisdom of crowds: Can crowdfunding help photographers?". British Journal of Photography. Archived from the original on April 14, 2012.
  5. ^ Bustos Sierra, Felipe (January 7, 2011). "Help get the Rocky theme tune into Edinburgh rickshaw film". Guardian.co.uk.
  6. ^ Bulkley, Kate (October 2010). "Is crowd-funding the future for documentaries?". Guardian.co.uk.
  7. ^ Bridge, Mark (July 18, 2012). "Nanobots could turn 'Great Pacific Plastic Patch' into a floating island".
  8. ^ http://www.sponsume.com/projects/successful
  9. ^ Kumar, Naresh (April 30, 2010). "Sponsume: Crowdsourced Project Funding With Benefits". PSFK.

External links[]

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