The DigVentures crowdfunding platform is a ‘keep it all’ model, rather than ‘all or nothing’. This means that upon completion of your campaign, you will receive all of the money that has been raised, even if you have not reached your goal.
We host benefits-based projects only. This means that the funding levels must have deliverable benefits for purchasing. This is very different to donations, equity or lending. Projects should think carefully about their benefits, as this is an absolutely essential component of a successful campaign. What will people really want from your project? Start there!
What are the costs?
Most crowdfunding platforms are transactional; it is simply the technology that allows people to view your project, and to pay safely. It does not help you reach your crowd or develop your project. DigVentures is different.
It’s free to apply, and we do not charge project backers a sign-up or listing fee. We charge project creators 4% of the amount raised when projects reach the funding target, and 9% if you do not reach your goal. There are also fees charged by the payment gateway, such as PayPal or Stripe.
What kind of projects do we choose for the platform?
We are looking for projects that have a plan for financial sustainability, and a scalable project model; for example, what will the project achieve if you raise all the money? What will it look like with half of the target? Because we operate a ‘keep it all’ platform, it’s very important to us that your funders are aware of exactly what their support will help you achieve, and that you have a plan for future operations. Please think carefully about this when you apply.
With that in mind, we will offer all of the projects we accept a basic level of consultancy on how to build and sustain a successful crowdfunding campaign. If we feel that your project needs more comprehensive help, there are further levels of support available. We’ll discuss this with you as soon as we’ve had an initial chat about your project.
Crowdfunding is hard work, and we will be here to help you achieve your goals; however, you are responsible for running your own marketing campaign, acknowledging your funders and delivering the benefits when promised. This has implications for small teams – we’ll want to know what resources you have in place for this.
Crowdfunding is a relationship built on trust. We are looking for projects that are very aware of this and prepared to manage their new community, starting with fulfilling all the benefits they have offered. Budgets will need to take into account things like postage, materials costs, schedules and staff resources.
In order to apply, please send us the following:
- A simple pitch (eg. word document, no graphics), summarising your project, how crowdfunding will help your project be more sustainable in future, and a proposed timeline (max. 400 words).
- An outline marketing plan – who will run your social media? Do you have press contacts? Where are the networks that will help promote your campaign, and how will you reach them? Most projects that fail have fallen down on marketing and promotion, so we will look very closely at this aspect of your pitch (max. 300 words)
- A project financial goal, plus a list of proposed funding levels and associated benefits. Are these realistic and engaging? Can you afford them?
- A short bio of yourself or your organisation (max. 200 words)
After we review your pitch, we’ll get in touch. Please be ready to discuss more detailed information about budgets, benefits and marketing plans.