Crowdfunding for for-profits?
“Fundraising is the gentle art of teaching the joy of giving.”
Wegenfund Projects help your beautiful, smart ideas become a reality. It is where entrepreneurs, researchers, and artists share their wonderful visions with their fellow Ethiopians - and fellow humans - across the globe that will come together to fund them. Whether you are just starting or need a little extra support, this is the place to come to to raise money for your business.
Our aim is to serve all communities across Ethiopia from street kolo/ቆሎ merchants to university researchers, from city furniture designers to countryside farmers. In this first phase, however, we are accepting only those that have legally registered businesses irrespective of their type (Sole Proprietor, Partnership, Private Limited Company or any other type.) We will expand it to private individuals as we have ironed out the legal and operational details.
How does it work?
There are several modalities for business crowdfunding. For the Ethiopian context, for the time being, Wegenfund will support donation-type business crowdfunding modality, where a supporter chooses to support a Business without expecting anything in return.
However, if you want to send a little thankyou to your supporters when your idea becomes successful, we can help with that. Just get in touch with us - that is, if you don't see the feature already on our website.😉
Why should you use wegenfund for your crowdfunding?
- It is more efficient than traditional fundraising for securing fund quickly;
- It generates traction, social proof, and validation for your project;
- It is an opportunity for crowdsourced brainstorming to refine your idea;
- It provides you with early adopters and loyal advocates; and
- It doubles your marketing and media exposure.
Requirements:
We don't have a long list. What :
- Business registration details - we accept all legally registered businesses irrespective of their types (Sole Proprietor, Partnership, Private Limited Company or any other type)
- Project portfolio – project description, objective and financial forecast. Remember - you are pitching your idea to your supporters worldwide.
- Bank Details - this should match the business registration. E.g. if your business is a PLC, we can only transfer funds to a bank account registered in the name of the Plc.