Deadline: March 28, 2015
Finofund has launched a project competition for Nigerians. Finofund is a crowdfunding platform making an entry into the Nigerian market to solve problems that deal with funding of the thousands of innovative projects. With relative success recorded by other crowdfunding platforms especially in Europe and America, Finofund has brought a similar model of crowdfunding but with new strategies, that makes it relevant in the local market.
Finofund will solve two major problems: which are to solve the problem of finding backers for projects initiated by innovative and creative hands or entrepreneurs and to create a culture of investment amongst the average Nigerian. In addition, it will be a platform for idea validation, proof of concept and customer preorder as ideas would go through multitude of scrutiny to get backers. It also seeks to create jobs with every successful project accepted and backed.
Competitors will be required to come up with innovative projects that they have been working on. Individuals and teams can also participate.
- Competitors must be Nigerian.
- Competitors must be over 18 years of age
- Competitors must have a valid form of identification such as School I.D card, Voters Card, National ID Card, Driver’s License or International Passport.
- Competitors must be resident in Nigeria.
- The best 20 projects will be invited to a launch ceremony to pitch their projects to investors.
- Afterwards, these projects will be launched on the website to open it up for public funding
- The best five successfully funded projects will then be provided project support to get their projects off the ground.
- Technological Projects– which include free software development, games, free apps, hardware development e.t.c
- Entertainment Projects – These include film, photography, art, comics and design e.t.c
- Academic & Educational Research– FINOFUND will accept original research projects
- Publishing projects– FINOFUND will assist you in funding the publication of your books. However, they must be finished manuscripts by the time you launch your project on Finofund.
- Agricultural Projects– which may include developing machines for the agricultural sector as well as projects on bio-chemical research to boost our agricultural sector.
- Projects must be finite, that is, they must have a clear completion date. Work must have begun on the project.(A concrete plan may suffice)
- Projects must fall into the following categories- technology[software and hardware], entertainment [film, photography, arts and design], agriculture and publishing.
- E-commerce projects, social networking projects, charity causes, immoral projects such as pornographic films and books will not be accepted.
- Loans are not included.
How to Participate
Applicants will be required to log on to finofund and REGISTER·
After e-mail confirmation, they will be required to CREATE NEW PROJECT and upload details about their project. These details will includes
(i) Short description: which will be a short description of the project
(ii) Long description: which will give details of the project such as
- The amount needed for the project
- A clean breakdown of what the funds will be used for
- Timeline for the completion of the project
- What purpose your project intends to serve
(iii) A video describing the project
(iv) A prototype or model of the innovation, an excerpt from the book project etc. or any other proof to show that work has indeed begun on the project.
Note: Check out the tips for building a project