Fund it is an Irish rewards-based all-or-nothing crowdfunding platform, giving everyone the power to make good ideas happen. Crowdfunding is used by early stage projects to generate money and Fund it provides an online platform for creators to pitch their projects and offer Rewards to those who contribute. By receiving average pledges between €50-€100 from a large number of people, Fund it allows you to take advantage of the largely untapped resource of your social network and personal connections.
Fund it provides your project with so much more than just money! It provides a low -risk source of funding allowing you to market through campaign publicity. Those who contribute to your campaign are usually much more invested in the project than a normal customer. They are contributing to you and your journey as much as they are purchasing your Rewards.
Fund it accepts creative ideas in a wide range of sectors and categories. Just some of the types of projects we accept are
There are a few boxes you need to tick:
Not all crowdfunding platforms are created equally. Different platforms are suited towards different Projects!
Here are 5 reasons why you should use Fund it:
All-or-nothing funding means that Fund it obtains card authorization from Funders to debit their account if the given Project reaches its goal. If a Project does not meet its funding goal Fund itwill not debit the card, meaning that your Project will receive nothing.
While at first glance this may seem disadvantageous, the policy ensures that Project Creators, their ideas and Funders are protected. Read more about all or nothing funding here: http://fundit.ie/info/its-all-or-nothing-with-us
Yes. 8%. Fund it charges a commission of 5% to break even on operational expenses and then a further 3% to cover transaction costs.
Yes. To receive the money from a Project you must have a bank account on the island of Ireland. The bank account can be in either Euro or Pound Sterling. You will only need to send this information after Project completion. We recommend Bank of Ireland as preferred partners.
Contributions can come from any country in the world. To date we have had pledges come from 66 different countries from 6 of the 7 continents.
Tax implications vary from person to person. Transactions associated with your Fund it Project may have to be declared and we therefore recommend you speak to your own accountant for more information.
Your social network is your most important target group. This includes your immediate close connections and their connections.
Promotion work can be most effective when conducted prior to Project launch. Telling your network about your upcoming Project places your campaign in the mind-set of potential Funders from an early stage. Find ambassadors for your Project who will spread the word.
More formal communication with Funders should occur closer to the time and during the project. The preparation of email templates in advance is a good way of making communications with your network easier during your campaign. Personalised emails to individuals are the most effective way to bring in pledges, so it’s well worth investing the time.
Separately, potential media connections can be made prior to Projects which can allow you to smartly plan the timing of your media releases.
Rule of thumb: Divide your target by approx. €60 to estimate how many Funders you will need
To break this down: The average pledge on Fund it is €57. For example, if your target is €10,000 then €10,000/57= 175 individual pledgers. A more comprehensive guide can be found below based on the data from the last five years.
This figure varies by your particular Rewards, Project type, average age of Funders etc., however, for typical Projects the correlation between Project size and number of Funders is unwavering.
The average campaign size on Fund it is €3,840. Here are some recommendations:
For an example of how to work out these costs please see below:
Yes. Projects have the highest chance of success when accompanied by a series of considered, desirable Rewards. Good Rewards reflect the creativity, passion and energy of the Project. This can often prove the difference between a successful and unsuccessful Project. We make a clear distinction between contributions and donations. We firmly believe that Project Creators should have enough confidence in their Rewards that they should think of it as selling as opposed to seeking donations.
A well-designed set of Rewards can really help a Project on its way to success. Think about the motivation of your Funders and build your Rewards around this.
Here are some tips for designing your Rewards:
Rewards cannot be financially incentivised, this basically means you cannot offer money back, and no equity-, ownership- or securities-based Rewards.
You must provide something more than just a thanks. We feel a thanks should come as a standard with any contribution and therefore does not constitute a Reward in its own right.
Other than this, barring anything illegal or offensive, you can be as creative as you please when offering Rewards.
Yes. Creative Rewards are often only feasible in limited numbers and this is perfectly fine.
Projects can be live on Fund it for between 1 to 11 weeks. Duration is a balance between allowing yourself enough time to raise awareness, and consequentially funding, while avoiding losing momentum. The typical contribution curve is a U with 65% of pledges coming in either the first or last week of Projects. We recommend 4-6 weeks so Funders have time to become aware of the Project, but not so long the middle section becomes stagnant.
To give you some kind of guide: The average duration for a Project is 32 days but varies according to project size. Financially larger Projects typically last longer with an average of 40 days. Importantly, there is no correlation between a longer duration and a higher success rate. In fact, some research has suggested that a shorter duration portrays confidence in a Project therefore increasing the likelihood of funding.
In addition to allowing an adequate duration for their funding campaign while live on the site, Project Creators should also allow a 2 week period from Project submission until a Project goes live on the site. Projects will also only be accepted where there is sufficient time allocated after the Project deadline for fulfilling Rewards (minimum 4 weeks).
Finally, it is worth noting that a significant period is spent planning prior to launching the Project and communicating with Funders about the progress of your Project afterwards.
This section has two parts; the brief description and the detailed description:
For both of these sections avoid words like ‘help’ and ‘donate’, instead using words like ‘support’ and ‘fund’.
The brief description is limited to 180 characters so should be a short description of the Project. This summary will appear on the home page, Project summary and in Project search results. When writing this pay particular attention to the first line. This is the line that will show up on Google previews so ensure it captures people’s attention. Think short, catchy and intriguing.
The detailed description is limited to 500 words in which you can be as creative as you’d like. It should however include:
Your Project image is the first impression that people will get of your Project, it is the image shared on social media and sets the tone for your Project. Draw people in with something eye catching and relevant.
Here is some advice for getting your image just right and giving the desired impression for your Project:
Here are some tips and tricks for creating your video:
Where possible start and end with a clear invitation for the viewer to contribute. Make sure this invitation tells them what to do and how to do it.
No. You can still list a project without a video, but we do advise this is the best way to engage Funders.
Some Projects with great videos include:
The Poor Little Boy with no Arms (Performance)
Aoife Scott’s Debut Album (Music)
Galway Fringe Festival (Event)
The MACHISMO Project (Art)
2ha Suburban Magazine (Media &Publishing)
All About Harry Mockumentary (Film & TV)
No. Once your Project has gone live you can’t edit your Project. You can however keep your followers informed through your activity updates.
Below is a breakdown of this pledge pattern that you can use to guide your communications.
There are three ways to get featured on the home page.
During your campaign you will have a section on your page called ‘activity updates’. In this section you can provide news on your campaign progress. These updates email directly to your Funders, keeping them in the loop, and keeping your Project in their mind so they’ll share it with their friends.
No. But you can see a live total of your project pledges at any time on your project page.
There will be a one-week closure period. You will then receive an email including the following:
Your Funders will receive an email informing them that your Project was successful, that their card will be debited and that you, the Project Creator, will be in touch shortly to arrange the fulfilment of Rewards. When communicating with your Funders from this list please do note the legal requirements to remain compliant with data privacy legislation. You will receive guidelines on this on Project completion.
Funders will not have their cards charged and therefore your Project will not receive any funding. Don’t feel too bad though, unsuccessful Project Creators learn from their mistakes and come back to complete successful Projects.
No. Your Project will remain on the site, but this is for viewing purposes only.
This is the most important aspect in ensuring a positive, engaging experience for your Funders. There are a few ways in which Project Creators can help with this process.
Once all of your Rewards have been successfully delivered. Your previous Funders will be your biggest supporters, so make sure they have an amazing experience!
Just visit fundit.ie and click the Submit button.
The submission form will guide you through, with hints and tips along the way.
After you submit your Project, our moderation team will be in touch to help in every way they can, and together we will launch your perfect project!
Got a question? Check our Frequently Asked Questions or contact us.