Register Start a Project
FAQs
  • iFundArts enables individuals and organizations to create their own online campaigns to pitch and promote their creative projects to people whom they think might help fund their endeavor. You start a project, determine the type of campaign (donation-based, reward-based, equity-based), indicate how much you need, and set a deadline to reach this goal.

    You promote your project through various means and people will be able to donate small and large amounts. If your project is successful you will receive your payment and you will get down to business and make your project a reality. When applicable, your supporters will receive the promised reward or equity in return for their support.

  • To be eligible to start a project, you need to be 18 years of age and above. If you are below 18, then your parent or legal guardian will need to create and submit your project on your behalf.

  • Projects must also follow our Basic Rules or Terms of Use. iFundArts was set up to enable fundraising for creative projects. The words “project” and “creative” therefore define the scope of eligible projects.

    A project is something finite with a clear beginning and end. Someone can be held accountable to the framework of a project — a project was either completed or it was not — and there are definable expectations that everyone can agree to. Creative ideas fall in one of the following categories: Music, Film and Video, Photography, Dance, Theatre, Fine Arts, Crafts, Design, Fashion, Publishing, New Media, Community collaborations, Arts and Environment.

    However, the following projects are not eligible: incomplete projects/ideas, funding for political parties, ideological movements, religions or sects, projects that are obscene, hateful or offensive projects, and those that use copyrighted work without permission.

  • There is no fee to register, use the site, to create and support projects through iFundArts. However, once your project is successful, you’re charged a modest 15% which is used to sustain the website and platform.

  • iFundArts is accessible to those that have registered with the UMVA Kreatives platform for creative practitioners. If your project is successful you will receive your funds through your online UMVA Kreatives transaction account. These funds can then be cashed at any of the connected financial institutions. To be able to register and use the website and platform, you will therefore need to have an online UMVA Kreatives account for which you can register for free https://umvakreatives.com/ifundart/user/register

  • Registration entitles you to use iFundArts and the entire UMVA Kreatives Platform. You will need to be registered to be able to support projects, leave comments/feedback for project creators and access news on projects that you have supported, view your history of activities, contact other members and receive the regular newsletter and our selection of favorite projects.

  • We are very attentive to the confidentiality of the information submitted by our users. You can read our complete Privacy Policy here https://umvakreatives.com/privacy-policy/. In a nutshell, we do not store any personal data that you do not give to us and we do not give out any user information and we do not, under any circumstances, give personal data to third parties or partners.

  • You can choose among

    1) Donation-based

    2) Reward-based

    3) Loan-based

    4) Equity-based campaign

  • You can opt for a donation-based campaign without rewards. People support your project because of your story. This type of campaign is most suitable for (budding) creative practitioners that seek support for smaller projects that have fewer tangible outcomes, such as tuition for or participation in relevant training, participation in a festival or event, buying essential equipment, or materials to start-up. Although you’re asking for charity, it remains important to show gratitude to your supporters.

  • Rewards are a way to get your supporters interested and involved in your project. They are also an effective way to show gratitude to your supporters. You can therefore opt for a reward-based campaign and add smart and fun rewards so as to increase the success of your project. The best rewards are typically things produced by the project itself. It is therefore most suitable for projects that result in tangible products or experiences. Needless to say that creativity is allowed! It is up to the project creator to create and fulfill their rewards.

  • You can opt for a loan-based campaign to crowdfund for a 0% direct loan towards your creative project. This type of campaign is typically yours if you have already a supportive community that is putting in their support. It enables you to build a financial track record and creditworthiness that can assist you in accessing and qualifying for traditional lending sources. Your project is reviewed by the iFundArts administration team from which the perspective of whether there is sufficient social underwriting for you to repay your loan is sought.

  • Equity crowdfunding is raising capital from the crowd through the sale of securities (shares, convertible note, debt, revenue share, and more) in a private company (that is not listed on stock exchanges).

    Or: It is raising capital from the crowd online.

    Anyone can invest in your offering under equity crowdfunding i.e. potential investors visit a funding portal website and can explore different equity crowdfunding investment opportunities. There are certain restrictions, in that you have to be over 18 years of age and there are limits on how much capital an individual can invest based on their income and net worth.

    Investors in equity crowdfunding don't participate just to buy a product at a discount a year before its release; they stand to make a profit if they make a good investment and the company, they invested in grows. This has benefits for the company as it can create hundreds of brand ambassadors who want to see you succeed, and that is an audience the company can depend on to spread the word about their business and share the product with their own networks.

    Note: Equity is the value of the shares issued by a company.

    The Project creators determines the terms. In other words, they have total control of the offering i.e. what to sell, how much, and at what price.

  • Yes! Project creators keep 100% ownership of their work. They own all Intellectual Property related to their project. iFundArts does not claim any ownership or rights of any kind with regard to your project and financial support received through iFundArts. [unless it’s the equity-based campaign]

  • Being open and sharing ideas is an essential part of iFundArts. The platform is collaborative by nature and is a powerful community-building tool for project creators. If you are unwilling to share information about your project with potential supporters, then the iFundArts is probably not the platform for your project.

  • Do not use music, images, videos, or other content that you do not have the rights to. Using copyrighted material is against the law and can lead to expensive lawsuits. Make sure you create all the content yourself or use content that is free for public use.

  • Yes, but we ask you to be very honest with people about the part of your project that has been financed and the additional funding you are looking for. Set up your fundraising campaign based on the remainder needed and explain how you will use this additional amount.

  • You can fundraise for all or part of your project or set up a series of projects. There are potential risks of supporters’ fatigue and reward fulfillment, so make sure you think through these issues and clearly explain to your supporters.

  • Yes. However, to ensure that projects get enough attention from their owners, iFundArts will only accept two fundraisers at a time from any person or organization. We do however discourage running more than one project at a time because having multiple projects can confuse supporters and split support. Moreover, running a project is a lot of work, and more than one project will likely dilute your attention and energy.

  • All projects are reviewed to ensure that they meet the eligibility criteria, use the most suitable campaign type, and are presentable online. Once you have submitted your project, the iFundArts administration team will look over the project to make sure everything meets the Basic Rules. We will get back to you as soon as we can, usually within a few days, and send you a notification when we do. If your project is accepted, you will be able to launch it whenever you are ready. Whereas iFundArts will provide some assistance in developing your project, you remain ultimately responsible to convince people to support your project.

  • Every project that launches on iFundArts can be found on the website www.umvakreatives.com/ifundarts/. Once published, your project will also pop up on the respective iFundArts social media as well as various partner websites. People who come to iFundArts will browse and look for projects, but keep in mind that when it comes to getting new backers, getting the word out through your own networks is the most effective. Most of the people who back your project will be your friends, fans, family, and friends of friends.

  • Yes. You can always try again with new ideas. You will have to set up your project from scratch though, which gives you a chance to revisit the approach or description of certain elements and increase the chances of success.

  • You can delete a project for as long it has not been launched. Once it has been launched to the public you cannot remove it anymore. Projects remain accessible on iFundArts, even if funding is unsuccessful or cancelled. Transparency is deemed key in this.

  • Yes. Although a project is primarily a matter between project creators and supporters, there are certain instances where action may be taken by the iFundArts administration team. A project may be suspended if it violates or acts inconsistently with the letter or spirit of the Basic Rules or Terms of Use. For legal and privacy reasons, iFundArts does not comment on such moderator actions. When a project is suspended, the project stops and all support is cancelled. Both the project creator and supporters are notified via email. A suspension is irreversible and cannot be undone.