At London Idea we choose a Reward based Crowdfunding platform. Here I will answer three simple questions.
Firstly what is reward based crowdfunding? Secondly Why did London Idea choose to build a reward based platform? And thirdly and most importantly why should you choose London Ideas reward based platform Reward based crowdfunding what is it?
Reward based crowdfunding is a relatively simple concept. You select incentives for donating to your cause. This can be in many forms such as exclusive membership to your new store, discounts, t-shirts, totes or products, sometimes even shout outs or dedication posted on their website. This allows a wide variety of people to participate and also allows you to raise money for your project.
Why did London Idea choose a reward based crowdfunding platform?
At London Idea we are open to all types of projects, therefore having a reward based platform allows us to accept all projects no matter how big or small, From charitable projects, ideas, new start-ups to bigger expansion projects. Reward based crowdfunding also allows many people to participate, nobody is excluding donations may be large or small which creates a fantastic buzz around the project, growing a community within London Idea. At London Idea were passionate at helping start-ups, new business succeed without having to give away equity.
Why should I choose a reward based platform?
You have worked hard, probably spent many hours, weeks or even years perfecting you product, building a team or creating an idea. We don’t want you to give away any of your hard work, you’re the owner and it should stay that way, at least until its turning over millions of pounds, and then you can demand more for that equity. Do not loose your company in the very early stages! It is yours and keep it that way. Reward your donors with crowd not only gets your product out there and builds that most important brand awareness, it also gives you the opportunity to receive valuable feedback to develop your company and idea.
Lastly and most importantly it’s by far the least costly way to raise those funds you need, it is also very simple. There is no credit check, no need to hire a legal team to organise equity and shares. You have an idea, a product, brand or business idea upload your campaign, decide your rewards and you are ready to start crowdfunding your idea into the next big thing!
Get in touch @LondonIdea on Twitter or @LondonIdea to find out more.