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What is an Organisation?

 

An organized group of people who work together in an organized way for a shared purpose, such as a private business or public interest organization.

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What is a Funding Goal?

 

The Funding Goal is the amount of money that a the Entrepreneur needs to complete their project.

We have both Flexible or All-or-nothing funding options.

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What is an All-or-Nothing funding option?

 

No one will be charged for a pledge towards a project unless it reaches its Funding Goal. This way, Entrepreneurs always have the budget they scoped out before moving forward. It reduces a risk and motivates the crowd to take part. If people want to see a project come to life, they need to participate in early stage product adoption and spread the word to create crowd velocity.

It's important to remember that Crowd Velocity is built on integrity and rewards based funding system. No one is charged until a project meets its funding goal and the funding period ends. This gives backers time to fully evaluate a project, and it also gives our Integrity team some time to look into any concerns raised by backers.

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What do funders get in return?

 

Backers that support a project on Crowd Velocity get an inside look at the creative process, and help that project come to life. They also get to choose from a variety of unique rewards offered by the project creator. Rewards vary from project to project, but often include a copy of what is being produced or an experience unique to the project.

Project creators keep 100% ownership of their work, and Crowd Velocity cannot be used to offer equity, financial returns, or to solicit loans.

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What is an Early-Adopter

 

Are the first to try new ideas, products and services.

As an early adopter or early customer of a company, product, or technology; you are regarded as an opinion leader and trendsetter. You are willing to make early financial commitment to try new hardware items, programs or new versions of existing programs before any of your peers.

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What is a Mentor?

 

An experienced and trusted adviser who is willing to help support less experienced entrepreneurs to make big ideas happen.

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Who is responsible for completing a project as promised?

 

It's the Entrepreneur themselves as the project creator's responsibility to complete their project. Crowd Velocity is not involved in the development of the projects themselves.

Crowd Velocity cannot guarantee projects or investigate an Entrepreneurs ability to complete their project. On Crowd Velocity, project funders (you!) ultimately have to decide the validity and worthiness of a project by whether they decide to fund it or not.

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What is a project?

 

A project is an online pitch for your business, innovation or idea which you want to bring to market using rewards based crowd-funding. The object is to reach your goal which you pledge for funding that is required to deliver your product into the hands of users.

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What is the role of a Mentor?

 

Mentors can take part on our platform to help guide and support Entrepreneurs on Crowd Velocity to help build sustainable businesses that can achieve stability and good on-going business practices. To ensure entrepreneurs are motivated and guided to achieve their project objectives. We are here to provide the platform to do that by supporting the cause of entrepreneurship and collaboration.

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How to backers know if a project will follow through?

 

Launching a crowdfunding campaign is a very public act, and creators put their reputations at risk when they do.

Investors should look for creators who share a clear plan for how their project will be completed, and who have a history of bringing their creative ventures and other projects to fruition. Entrepreneurs are encouraged to share links and as much background information as possible so backers can make informed decisions about the projects they support.

If the Entrepreneur has no demonstrable experience in doing something like their project or doesn't share key information, backers should take that into consideration. Does the Entrepreneur include links to any websites that show work related to the project, or past projects? Does the Entrepreneur appear in the video? Have they connected via Facebook?

Don't hesitate to request information from the Entrepreneur themselves. You can always reach out before pledging via the "Contact me" button on the project page.

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What is the role of a Business Angel?

 

Individuals with considerable amount of business and investing expertise that are able to support and fund projects that may have commercial viability to achieve scale and market traction. These individuals should be willing to put in time and resources as well as investment to see these projects through to market success. Each project should aim to attract at least 2-4 Angel investors who are willing to commercially invest into an opportunity.

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What is a Business Angel?

 

An affluent individual who is willing to provide support, expertise and / or capital for a business start-up, in exchange for rewards or equity ownership.

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What are rewards?

 

These are a creator's chance to share a piece of their project with their backer community. Typically, these are one-of-a-kind experiences, limited editions, or copies of the creative work being produced.

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Why do people support Crowdfunding?

 

Many backers are rallying around their friends' projects. Some are supporting a new effort from someone they've long admired. Some are just inspired by a new idea, while others are motivated to pledge by a project's rewards — a copy of what's being produced, a limited edition, or a custom experience related to the project.

Backing a project is more than just pledging funds to a creator. It's pledging your support and maybe your involvement to a creative idea that you want to see exist in the world.

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What is an Entrepreneur?

 

A person who introduces new methods, ideas, or products. An Entrepreneur is the one to introduce new idea or a project into life to create interest and support from the crowd. The Entrepreneur is also often referred to as the creator in the context of this site

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How do I make a pledge to the community members?

 

Making a pledge should be your core focus to pitch to the specific user of our community. Make few level of pledges for basic and premium version of your product or service. Early adopters will focus mainly on your product or value add of your service. Make it attractive for Early Adopters to commit funds to your project and make it easy for your message to spread.

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Why Crowdfunding?

 

Crowd Velocity is a community and crowd funding platform for entrepreneurial ideas and early stage projects. Crowd Velocity is a platform for ambitious, innovative, and imaginative projects that are brought to life through the direct support of people like you!

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What are our fees?

 

If a project is successfully funded, Crowd Velocity applies a 6.5% fee to the funds collected. Our payments processor will also apply payment processing fees (approx 2.5%). The complete fee breakdowns are available here.

If funding isn't successful, there are no fees.

If an arrangement resulting in funding is made between two parties as a result of being introduced through Crowd Velocity the company applies a 6.5% fee to that arrangement at the same time as the funding is made.

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How do projects become live on our platform?

 

Each project is independently created and crafted by the Entrepreneur behind it. The filmmakers, musicians, artists, and designers on the Crowd Velocity platform have complete control and responsibility over their projects. They spend weeks building their project pages, shooting their videos, and brainstorming what rewards to offer backers. When they feel ready, an Entrepreneur can launch their project on the site and share it with a community or several communities.

Every project Entrepreneur sets their project's funding goal and deadline. If people like the project, they can pledge money to make it happen. If the project succeeds in reaching its funding goal, all backers' credit cards are charged when time expires. If the project falls short, no one is charged where it is an All-or-nothing funding.

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Do Crowd Velocity ever issue refund on projects that have not gone to plan?

 

No, Crowd Velocity doesn't issue refunds. Transactions are between backers and Entrepreneurs directly. Entrepreneurs receive all funds (less fees) soon after their campaign ends.

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Where do Early-Adopters come from?

 

The majority of initial funding usually comes from the fans and friends of each project. If they like it, they'll spread the word to their friends, and so on. Press, blogs, Twitter, Facebook, and the Crowd Velocity members themselves are also big sources of traffic and pledges.

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What is the Flexible funding option?

 

Funds being taken out from the backer at the time of commitment, but is not distributed to the fundraiser until certain minimum amount it reached. This function can be used to raise money in tranches. This feature is also useful to collect donations for social projects or to be able to distribute ready available products to the backers.

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What should Entrepreneurs do if they are having problems completing their project?

 

If problems come up, Entrepreneur are expected to post a project update explaining the situation. Sharing the story, speed bumps and all, is crucial. Most backers support

projects because they want to see something happen and they'd like to be a part of it. Entrepreneurs who are honest and transparent will usually find backers to be understanding.

It's not uncommon for things to take longer than expected. Sometimes the execution of the project proves more difficult than the creator had anticipated. If an Entrepreneur is making a good faith effort to complete their project and is transparent about it, backers should do their best to be patient and understanding while demanding continued accountability from the Entrepreneur.

If the problems are severe enough that the Entrepreneur can't fulfil their project, Entrepreneurs need to find a resolution. Steps should include offering refunds, detailing exactly how funds were used, and other actions to satisfy backers.

Seek out to the community for support, resources or advice and mentorship to see your project through to success. We do not expect you to do it all alone!

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Why can't Crowd Velocity guarantee project success?

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We started Crowd Velocity as a new way for Entrepreneur and their audiences to work together to make things happen. Many traditional funding systems are risk-averse and profit-focused, and many great ideas never get a chance. Crowd velocity opens the door to a world full of creative possibilities, one where anyone can help decide which bright idea will become tomorrow's reality.

Crowd Velocity is full of ambitious, innovative, and imaginative ideas. Many of the projects you see on Crowd Velocity are in earlier stages of development and are looking

for a community to bring them to life. The fact that Crowd Velocity lets creators to take risks and attempt to create new things is a feature, not a bug.

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What is the role of an Organisation?

 

Organisations can now support early stage businesses and entrepreneurial ideas by committing to support by way of resources or funds to the projects on our site. This is good practice for businesses and organisations that want to give back to the start-up community and help them grow and succeed.

@ 2012-2017 Crowd Velocity