Sponsume
{{multiple issues|
{{COI|date=November 2012}}
{{advert|date=November 2012}}
{{update|date=April 2018}}
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{{Infobox website
| name = Sponsume
| logo = Sponsume logo.jpeg
| screenshot =
| url = http://www.sponsume.com
| commercial = Yes
| type = Crowdfunding
| language = English
| launch_date = August 2010
}}
Sponsume was an online multicurrency crowdfunding platform founded by French entrepreneur Gregory Vincent in 2010.{{cite news |url=https://techcrunch.com/2010/04/28/sponsume-lets-projects-get-off-the-ground-with-groupon-style-group-funding-model |title=Sponsume lets projects get off the ground with Groupon-style group funding model |work=TechCrunch |last=O'Hear |first=Steve |date=April 28, 2010 }} However, it ceased its crowdfunding services in 2014.{{Cite web |last=O'Hear |first=Steve |date=2010-04-28 |title=Sponsume lets projects get off the ground with Groupon-style group funding model |url=https://techcrunch.com/2010/04/28/sponsume-lets-projects-get-off-the-ground-with-groupon-style-group-funding-model/ |access-date=2023-09-04 |website=TechCrunch |language=en-US}}
History
During his time as a doctoral student at Oxford University, Vincent developed a strong interest in the works of Muhammad Yunus, a pioneering figure in the world of microfinance. Vincent recognised the potential of peer-to-peer microfinance as an alternative method for funding innovative ideas.{{cite news|url=http://www.a-n.co.uk/air/article/643190/469392 |title=The viral funding model: Sponsume |work=AIR |last=Hutchinson |first=Jack |date=June 2010 |url-status=dead |archive-url=https://web.archive.org/web/20101227171130/http://www.a-n.co.uk/air/article/643190/469392 |archive-date=December 27, 2010 }} In 2009, the financial crisis and subsequent cuts to subsidies in the UK arts scene highlighted the need for a community-led approach to fundraising for artists and innovators. This prompted Vincent to establish Sponsume.{{cite news |url=https://www.bbc.co.uk/news/entertainment-arts-12596767 |title=Arts world gets creative in funding crisis |work=bbc.co.uk |last=Youngs |first=Ian |date=March 28, 2011 }}
Model
The site used the power of social networks and the wisdom of crowds{{cite news|url=http://www.bjp-online.com/british-journal-of-photography/report/2036705/wisdom-crowds-crowdfunding-help-photographers |title=Wisdom of crowds: Can crowdfunding help photographers? |work=British Journal of Photography |last=Gavin |first=Miranda |date=May 4, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20120414032629/http://www.bjp-online.com/british-journal-of-photography/report/2036705/wisdom-crowds-crowdfunding-help-photographers |archive-date=April 14, 2012 }} to help fund a variety of projects ranging from films{{cite news |url=https://www.theguardian.com/edinburgh/2011/jan/07/edinburgh-rickshaw-film-rocky-soundtrack |title=Help get the Rocky theme tune into Edinburgh rickshaw film |work=Guardian.co.uk |last=Bustos Sierra |first=Felipe |date=January 7, 2011 }} and documentaries,{{cite news |url=https://www.theguardian.com/sheffield-doc-fest/funding-models-for-film-making |title=Is crowd-funding the future for documentaries? |work=Guardian.co.uk |last=Bulkley |first=Kate |date=October 2010 }} to music, theatre, photography, fashion, technology, scientific{{cite news |url=https://www.wired.co.uk/news/archive/2012-07/18/nanobots-recycling-plastic |title=Nanobots could turn 'Great Pacific Plastic Patch' into a floating island |last=Bridge |first=Mark |date=July 18, 2012 }} research, green and social enterprise. By 2012, Sponsume had helped crowd fund over 1000 campaigns.{{cite web |url=http://www.sponsume.com/projects/successful |title=Successful projects {{!}} Sponsume |website=www.sponsume.com |url-status=dead |archive-url=https://web.archive.org/web/20110217183532/http://www.sponsume.com/projects/successful |archive-date=2011-02-17}}
Project owners set a funding goal and a deadline for their campaigns. In return for contributions, they offered non-monetary rewards typically related to their projects.{{cite news |url=http://www.psfk.com/2010/04/sponsume-crowdsourced-project-funding-with-benefits.html |title=Sponsume: Crowdsourced Project Funding With Benefits |work=PSFK |last=Kumar |first=Naresh |date=April 30, 2010 }} The platform charged a 4% fee for campaigns that reached their funding goals, while unsuccessful campaigns incurred a 9% fee.
See also
References
{{Reflist|1}}
External links
- {{Official website|http://www.sponsume.com}}
{{Crowdfunding platforms}}
Category:2014 disestablishments in the United Kingdom
Category:Defunct crowdfunding platforms of the United Kingdom