What is SparkRaise?
SparkRaise is an online fundraising platform where funders, creators, inventors, and socially minded people can converge to exchange ideas and raise funds for the things that matter to them. Anything from technology, education and the enviroment, to community, health and the arts.
Based in Hong Kong, we are well situated to help creators and funders around the world access a crowd in Asia.
Words We Use Often
Campaign: A finite project or product with a clear goal you would like to bring to life.
Funding goal: The target amount of money you would like to fundraise for to complete your campaign.
Campaign Creator: Person or organization with the idea or campaign, working hard to make it a reality.
Contributor: Person who pledges money and supports campaign creators turn their ideas into reality.
Organization: A group of people, team, company or social enterprise.
Sparker: Person or organization who is a member of the SparkRaise community. Sparkers share a desire to develop and support creative and innovative products and solutions.
Spark: As a Sparker, you can spark the people, organizations and campaigns that you like. Sparking people or organizations will allow you to follow their posts. You will see the Spark button everywhere on SparkRaise. Click it to spark the things you like.
SparkRaise profile page: A personalized page on our platform for every Sparker which allows Sparkers to connect with one another. Every person who is a registered member of SparkRaise has his or her own profile page. Every person can also create an unlimited number of organization pages (and share administrative rights for those pages with other registered members).
SparkBoard: Located on your profile page, the SparkBoard is where you can write posts and view posts made by people and organizations you have sparked.
Perks: Perks are a way for campaign creators to give back to their contributor group and share a piece of their project with them. Perks may be in the form of a product, service, discount or goodwill. Typically, they can include items of the creative work being produced, unique experiences, or limited edition items. They often are special items you probably will not find at your store down the street.
Rewards: SparkRaise is building a loyalty rewards program to reward our Sparkers. This is different from Perks because perks are incentives offered by campaign creators. Rewards are offered directly by SparkRaise to Sparkers who have accumulated enough loyalty rewards points. Loyalty rewards points may be accumulated based on completing certain activities on the platform and those points can later be redeemed for Rewards offered by SparkRaise. Stay tuned as we work on rolling out our loyalty rewards program.
How Does SparkRaise Work?
Every campaign on SparkRaise is independently conceived and developed by the campaign creators. Total responsibility and control over the campaigns rests with the inventors, entrepreneurs, and social innovators who are behind each campaign. Campaign creators may have spent days, months or years developing their idea, designing a prototype, creating profile pages and filming videos. Profile pages on SparkRaise are free to create for individuals as well as organizations.
Even before launch of a campaign, individuals can follow and connect with like-minded people and exchange ideas and share their projects. Organizations can also use their profile pages to build up an audience even before launching a campaign, so that their community members are already on SparkRaise when they are ready to fundraise.
When they are ready, campaign creators can launch their campaign on SparkRaise and tell their community about it. They set their own funding goal and also set a timing deadline within which to reach their goal. If people like the idea, they can pledge and contribute to the campaign. If the campaign objectives are met by the deadline, depending on the funding type, the contributors will be charged and the campaign creator will receive the funding they need to bring their idea to life. If the campaign falls short of its objectives for a fixed funding campaign, no one is charged. Funding on SparkRaise can be either on a flexible funding or fixed funding basis.
What is the Spark Button?
As a Sparker, you can spark the people, organizations and campaigns that you like. Sparking people or organizations will allow you to follow their posts. You will see the Spark button everywhere on SparkRaise. Click it to spark the things you like.
SparkRaise lets campaign creators choose their own funding type, which may include keeping all funds you have raised even if you have not reached your funding goal.
Flexible Funding ("Keep it all"): Flexible funding allows campaign creators to keep all funds raised even if the funding goal is not reached. You will want to choose flexible funding if any amount of money will help you reach your campaign objective and you will still be able to deliver the perks you are offering. It is suitable for almost all campaigns on SparkRaise.
Fixed Funding ("All or Nothing"): Fixed funding means you only get the funds raised if you reach your funding goal. You should only choose fixed funding if you require a specific minimum amount of money to achieve your campaign objective and if you are unable to deliver the perks you are offering without raising the total amount of your funding goal.
Fees & Pricing
FREE: It is free to sign up and create a personal profile page and organization pages. It is also free to create campaigns.
5%: SparkRaise charges a 5% platform fee on all funds raised. SparkRaise is aligned with the campaign creators and contributors -- as such, SparkRaise only charges a platform fee on funds you have successfully raised at the end of the campaign (not the goal you set).
3-5%: SparkRaise uses PayPal to process online money transactions. PayPal charges a processing fee of around 3-5%, depending on factors including currency and country.
Total fees charged for successful campaigns therefore work out to around 8-10% fees on the total amount successfully raised. (i.e. 5% SparkRaise fee + 3-5% PayPal fee)
COMPASSION by SparkRaise
COMPASSION by SparkRaise is crafted for campaigns supporting humanitarian emergencies. Please contact us if you believe you have an eligible campaign and we can discuss what additional support we can provide for such campaigns. We will approve only select campaigns and approval remains at the discretion of SparkRaise.
Need help? Contact our support team by emailing us at email@example.com