BLACK COCKTALE

finofund crowdfunding

This is one outstanding initiative I discovered of recent. The First Nigerian Crowdfunding Platform... "FINOFUND". If you are Nigerian and you have a project you want to carry out; there is nothing wrong in  trying this out.

According to Massolution's 2013 report on the phenomenon, titled "2013 CF the Crowdfunding Industry Report (http://research.crowdsourcing.org/2013cf-crowdfunding-industry-report)", approximately 2.7 billion USD has been raised worldwide via crowdfunding platforms: 1.6 billion USD in North America; 945 million USD in Europe and 110 million throughout the rest of the world. Europe and the US have recorded the biggest growth in crowdfunding since 2009.

finofund crowdfunding, nigeria

Deadline: March 28, 2015 

Finofund has launched a project competition for Nigerians. Finofund is a crowdfunding platform making an entry into the Nigerian market to solve problems that deal with funding of the thousands of innovative projects. With relative success recorded by other crowdfunding platforms especially in Europe and America, Finofund has brought a similar model of crowdfunding but with new strategies, that makes it relevant in the local market.

Finofund will solve two major problems: which are to solve the problem of finding backers for projects initiated by innovative and creative hands or entrepreneurs and to create a culture of investment amongst the average Nigerian. In addition, it will be a platform for idea validation, proof of concept and customer preorder as ideas would go through multitude of scrutiny to get backers. It also seeks to create jobs with every successful project accepted and backed.

Competitors will be required to come up with innovative projects that they have been working on. Individuals and teams can also participate.

Eligibility

Competitors must be Nigerian.

 Competitors must be over 18 years of age Competitors must have a valid form of identification such as School I.D card, Voters Card, National ID Card, Driver’s License or International Passport. Competitors must be resident in Nigeria

Prizes

The best 20 projects will be invited to a launch ceremony to pitch their projects to investors.  Afterwards, these projects will be launched on the website to open it up for public funding   The best five successfully funded projects will then be provided project support to get their projects off the ground.

Acceptable Projects

Technological Projects - which include free software development, games, free apps, hardware development e.t.c entertainment projects  –  These include film, photography, art, comics and design e.t.c Academic and Educational research  -  FINOFUND will accept original research projects Publishing project s - FINOFUND will assist you in funding the publication of your books. However, they must be finished manuscripts by the time you launch your project on Finofund.   A g ric ult u r al P r oje c t s - which may include developing machines for the agricultural sector as well as projects on bio-chemical research to boost our agricultural sector.

Project Guidelines

Projects must be finite, that is, they must have a clear completion date. Work must have begun on the project.(A concrete plan may suffice) Projects must fall into the following categories- technology[software and hardware], entertainment [film, photography, arts and design], agriculture and publishing.  E-commerce projects, social networking projects, charity causes, immoral projects such as pornographic films and books will not be accepted.  Loans are not included.

How to Participate

Applicants will be required to log on to finofund and REGISTER· After e-mail confirmation, they will be required to CREATE NEW PROJECT and upload details about their project. These details will includes