Crowdfunding Basics
Crowdfunding is all about creating a community around your project. A community that funds the project and also helps in spreading the word about your project. It’s all about asking for small amounts of money from many people instead of finding that one or two people to cut you a large cheque.
Crowdfunding is not just about money, it’s about getting social validation. With many people funding your project, you can get access to direct distribution, creative independence since there is no investor, and a community that can support your creative ambitions for life!Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
WingsOfIdeas is a rewards-based crowdfunding platform, which means that funders do not get any monetary return (such as profits, equity etc.) for their funding to creative projects. They are asked for small amounts (such as ₹ 500, 5000, 10,000 etc.) in return for intangible rewards such as early bird or special access to the project they funded (invite to film premiers), limited edition merchandise, experience in the making of the project etc.
Funding usually begins at home! By this we mean, a project creator’s personal contacts such as friends, family, colleagues, alumni, as well as Facebook fans and friends, twitter followers etc. If the project becomes viral and gains popularity, and it connects with a lot of people emotionally, then it has the potential to even get funds from complete strangers on the internet! So, it really depends on the awesomeness of the idea.
If you have a project that you want to raise funds for, you simply have to submit your project on WingsOfIdeas by filling a form. If your project gets approved, you get a WingsOfIdeas consultant to help you prepare for crowdfunding. Once ready, your campaign goes live and you get up to 45 days to raise your funding goal. If you are unable to raise your funding goal by this time, the money is returned to your funders. Therefore, you get All or Nothing. For more details, visit our Project Rules here.
If you want to fund a project on WingsOfIdeas, simply go to Browse Projects, choose the ones you like, select a reward and then go ahead and pay for it, using Credit/debit card or netbanking. You can also order a cash/cheque pick up from your doorstep.
Sounds scary right? But don’t worry, WingsOfIdeas has a 70% success rate despite this policy. What’s interesting is that all other platforms that don’t have this policy suffer from less than 10% success rate. This means you have only a 10% chance of raising funds successfully on platforms that don’t follow the ‘All or Nothing’ policy.
Globally, experts consider ‘All or Nothing’ as the best practice for all crowdfunding platforms. Under this policy, we become your partners. If you lose, we lose too. This policy also brings out trust and transparency in the project that encourages people to fund it without worrying about project delivery.
Pricing
Category 1
Non refundable, One time fee
Less than 5 lakh
9.9% Wings Of Ideas commission
Only upon campaign's success
Category 2
Non refundable, One time fee
More than 5 lakh
9.9% Wings Of Ideas commission
Only upon campaign's success
Category 3
Non refundable, One time fee
Student Campaigns
9.9% Wings Of Ideas commission
Only upon campaign's success