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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]
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Type of site | Crowdfunding |
|---|---|
| Available in | English |
| URL | http://www.sponsume.com |
| Commercial | Yes |
| Launched | August 2010 |
History
editDuring 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]
Model
editThe 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.
See also
editReferences
edit- ^ O'Hear, Steve (April 28, 2010). "Sponsume lets projects get off the ground with Groupon-style group funding model". TechCrunch.
- ^ O'Hear, Steve (2010-04-28). "Sponsume lets projects get off the ground with Groupon-style group funding model". TechCrunch. Retrieved 2023-09-04.
- ^ Hutchinson, Jack (June 2010). "The viral funding model: Sponsume". AIR. Archived from the original on December 27, 2010.
- ^ Youngs, Ian (March 28, 2011). "Arts world gets creative in funding crisis". bbc.co.uk.
- ^ Gavin, Miranda (May 4, 2011). "Wisdom of crowds: Can crowdfunding help photographers?". British Journal of Photography. Archived from the original on April 14, 2012.
- ^ Bustos Sierra, Felipe (January 7, 2011). "Help get the Rocky theme tune into Edinburgh rickshaw film". Guardian.co.uk.
- ^ Bulkley, Kate (October 2010). "Is crowd-funding the future for documentaries?". Guardian.co.uk.
- ^ Bridge, Mark (July 18, 2012). "Nanobots could turn 'Great Pacific Plastic Patch' into a floating island".
- ^ "Successful projects | Sponsume". www.sponsume.com. Archived from the original on 2011-02-17.
- ^ Kumar, Naresh (April 30, 2010). "Sponsume: Crowdsourced Project Funding With Benefits". PSFK.