Frequently Asked Questions
We are Filipino, and we cater to you. We’re bringing crowdfunding to the Philippines to give marginalized innovators like us the chance to make our ideas possible. There is still no space for the creative, the innovative, and the passion driven to support and fund each other. We’re creating that space. This is where your projects should be.
Here at The Spark Project, we offer three types of crowdfunding campaigns.
Donations-based crowdfunding is modern type of fund-raising catered to specific causes such as charity projects, social causes, and personal needs. We will not require you to set a funding goal, a target date to complete, and rewards to give back to your backers.
Rewards-based crowdfunding is a type of crowdfunding catered to innovators and hopeful entrepreneurs. Here, you can test your project or your idea through crowdfunding. You are required to set a funding goal, time-constraints, and rewards for your backers.
Investments-based crowdfunding is a type of crowdfunding catered to scaling businesses wherein project creators use the power of crowdfunding to gain capital in growin their business through a large pool of small investments from backers. For more info, please contact email@example.com.
We've recently adjusted our process for launching new campaigns so we can serve projects better and increase their chances of succeeding in crowdfunding
To know more about our crowdfunding process, click here
As much as crowdfunding is an online activity and a lot of people have access to the internet, majority of the funding actually comes from the Project Creator’s community -- family, friends, and networks. These immediate circles initially back and promote the Project so that their friends and family would eventually know and back the Project.
We charge a standard engagement fee plus a platform fee of 10% if the project fails to reach its funding goal, or 7% if it successfully reaches or exceeds its funding goal. This does not include Payment gateway fees that range from 3-5% per transaction.
Please find our rates and fees for 2017.
|The Spark Project|
|Setup Fee||PHP 2,500.00|
|Rewards based Platform Fee||10% (regular fee)
7% (if campaign reaches/exceeds its funding goal)
Exclusive of 12% VAT
|Donation based Platform Fee||PHP 1,500.00 per month|
We have a different fees based on the project turnout to 1) encourage project creators to estimate properly and 2) motivate the project creators to campaign passionately for their projects. We owe it to our potential backers to feature well thought of projects by passionately committed creators through the site.
Yes. Projects are not limited to its funding goal. It can very much exceed its target. The funding goal is there to give everyone an idea how much funding your project needs to fly.
The Spark Project does NOT take ownership of any of the ideas. We only provide the platform for these projects to get the funding they need to start, or in some cases scale. Some project creators are wary that having their ideas posted online would result to others stealing it. Ideas are a dime a dozen. Although we cannot prevent others from having the same idea as you. The fact that you have made concrete steps in making it happen still gets you ahead. We believe that it’s all in the execution.
It’s easy to back a project. Click on any project that catches your eye in our ‘Discover’ page and click “Back This Project” and this will bring you to a page where you can finalize your mode of payment. If you wish to back by credit card your transaction will be directed to Paypal, our online payment gateway. Should you choose to make bank deposit, you are requested to deposit the payment to the project creators bank account. Once completed, upload an image of the deposit slip to the link provided by the system or email us a copy of the deposit slip along with the project details you are funding.
Even though we only house projects from the Philippines. Backers may come from all corners of the world. This can be facilitated through Paypal.
You can definitely DIY your way to crowdfunding. The Spark Project provides free tools to help you prepare well for your crowdfunding campaign.
But if you need professional crowdfunding support, email firstname.lastname@example.org to know more about our consulting rates. Having a professional consultant take a look into your campaign can have a huge impact on the outcome of your campaign.
Preparation is key to a successful campaign. Feel free to use these tools.
1. Crowdfunding checklist and canvas - http://100.thesparkproject.com/checklist-canvas
2. Crowdfunding Boocamp - http://thesparkproject.teachable.com/p/crowdfunding-bootcamp
Feel free to email us at email@example.com. We’d love to help.