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Type of site | Crowdfunding |
---|---|
Available in | English |
URL | http://www.sponsume.com |
Commercial | Yes |
Launched | August 2010 |
Sponsume was an online multicurrency crowdfunding platform founded by French entrepreneur Gregory Vincent in 2010. [1] However, it ceased its crowdfunding services in 2014. [2]
During his time as a doctoral student at Oxford University, Vincent developed a strong interest in the works of Muhammad Yunus, a pioneering figure in the world of microfinance. Vincent recognised the potential of peer-to-peer microfinance as an alternative method for funding innovative ideas. [3] In 2009, the financial crisis and subsequent cuts to subsidies in the UK arts scene highlighted the need for a community-led approach to fundraising for artists and innovators. This prompted Vincent to establish Sponsume. [4]
The site used 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. By 2012, Sponsume had helped crowd fund over 1000 campaigns. [9]
Project owners set a funding goal and a deadline for their campaigns. In return for contributions, they offered non-monetary rewards typically related to their projects. [10] The platform charged a 4% fee for campaigns that reached their funding goals, while unsuccessful campaigns incurred a 9% fee.
This article has multiple issues. Please help
improve it or discuss these issues on the
talk page. (
Learn how and when to remove these template messages)
|
Type of site | Crowdfunding |
---|---|
Available in | English |
URL | http://www.sponsume.com |
Commercial | Yes |
Launched | August 2010 |
Sponsume was an online multicurrency crowdfunding platform founded by French entrepreneur Gregory Vincent in 2010. [1] However, it ceased its crowdfunding services in 2014. [2]
During his time as a doctoral student at Oxford University, Vincent developed a strong interest in the works of Muhammad Yunus, a pioneering figure in the world of microfinance. Vincent recognised the potential of peer-to-peer microfinance as an alternative method for funding innovative ideas. [3] In 2009, the financial crisis and subsequent cuts to subsidies in the UK arts scene highlighted the need for a community-led approach to fundraising for artists and innovators. This prompted Vincent to establish Sponsume. [4]
The site used 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. By 2012, Sponsume had helped crowd fund over 1000 campaigns. [9]
Project owners set a funding goal and a deadline for their campaigns. In return for contributions, they offered non-monetary rewards typically related to their projects. [10] The platform charged a 4% fee for campaigns that reached their funding goals, while unsuccessful campaigns incurred a 9% fee.