Reward-Based Crowdfunding - Revision history

Ranisha at 18:25, 31 May 2020

2020-05-31T18:25:47Z

Ranisha: Ranisha moved page Result-Based Crowdfunding to Reward-Based Crowdfunding

2020-05-31T18:24:05Z

Ranisha moved page Result-Based Crowdfunding to Reward-Based Crowdfunding

Ranisha: /* Introduction */

2020-05-28T11:40:37Z

Introduction

Ranisha: /* Introduction */

2020-05-28T11:31:05Z

Introduction

Ranisha: /* Okra Solar - Cambodia */

2020-05-28T11:28:27Z

Okra Solar - Cambodia

Ranisha at 10:00, 28 May 2020

2020-05-28T10:00:54Z

Ranisha at 09:59, 28 May 2020

2020-05-28T09:59:44Z

Ranisha: /* Reward Platforms */

2020-05-28T09:56:26Z

Reward Platforms

Ranisha: /* Challenges */

2020-05-28T09:55:50Z

Challenges

Ranisha at 09:53, 28 May 2020

2020-05-28T09:53:39Z

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 = Introduction<br/> =
-The idea of result-based crowdfunding is to raise money using online platforms where interested funders can make a financial contribution. In return, the funders might get a small non-monenatary reward such as mentioning their names on the company website, company products such as T-shirts and the funded technology itself eg. solar lights. The funders are usually motivated by altruism<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref><ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>. Crowdfunding began as a wider phenomena in USA and Europe since 2008 in response to the economic crisis<ref>Candelise, C. (2015). Crowdfunding and the Energy Sector. https://www.researchgate.net/publication/285397036_Crowdfunding_and_the_energy_sector</ref> and is now a popular funding mechanism.
+The idea of reward-based crowdfunding is to raise money using online platforms where interested funders can make a financial contribution. In return, the funders might get a small monetary reward such as mentioning their names on the company website, company products such as T-shirts and the funded technology itself eg. solar lights. The funders are usually motivated by altruism<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref><ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>. Crowdfunding began as a wider phenomena in USA and Europe since 2008 in response to the economic crisis<ref>Candelise, C. (2015). Crowdfunding and the Energy Sector. https://www.researchgate.net/publication/285397036_Crowdfunding_and_the_energy_sector</ref> and is now a popular funding mechanism.
 '''Some popular crowdfunding platform include: Indigogo, Kickstarter, Charidy, StartSomeGood and Pozible'''<ref>Crowdfunding &  P2P Lending for  Energy Access (2018): https://www.energy4impact.org/file/2094/download?token=H2OMM250</ref>.
-= Result-based Crowdfunding =
+= Reward-based Crowdfunding =
-Results-based crowdfunding is mostly used by companies who are in their pre-seed to seed stage and where there are limited grant commercial and grant capital<ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref><ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>. It is used to generate fund for a particular projects such as R&D,&nbsp; developing new prototypes and manufacturing new products<ref>Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>. Off-grid solar companies that have done crowdfunding include: Okra Solar, Pollinate energy and solaris off-grid <ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.<br/>
+Reward-based crowdfunding is mostly used by companies who are in their pre-seed to seed stage and where there are limited grant commercial and grant capital<ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref><ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>. It is used to generate fund for a particular projects such as R&D,&nbsp; developing new prototypes and manufacturing new products<ref>Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>. Off-grid solar companies that have done crowdfunding include: Okra Solar, Pollinate energy and solaris off-grid <ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.<br/>
-Ther are two models of result-based crowdfunding:<br/>
+There are two models of reward-based crowdfunding:<br/>
-*Aggregate network contributions: In this model, the campaignmaker focuses on friends, family and personal network to raise funds. They typically raise between USD 10,000 to USD 50,000 and are used by start-ups. The rewards are usually small such as company T-shirts or mentioning names on the company website<ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>.<br/>
+*Aggregate network contributions: In this model, the campaign-maker focuses on friends, family and personal network to raise funds. They typically raise between USD 10,000 to USD 50,000 and are used by start-ups. The rewards are usually small such as company T-shirts or mentioning names on the company website<ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>.<br/>
-*Mega-campaign: In this model, the campaigns are of high profile nature and raise 100,000 to $400,000. This type of campaigns focus on development of new and novel technology. The rewared could be the technology itself or any other products using that technology. These types of campaigns are usually rare<ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>.
+*Mega-campaign: In this model, the campaigns are of high profile nature and raise 100,000 to $400,000. This type of campaigns focus on development of new and novel technology. The rewarded could be the technology itself or any other products using that technology. These types of campaigns are usually rare<ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>.
 == Benefits ==
@@ Line 30: / Line 27: @@
 *Cost of rewards needs to be considered when they are offered .
 *Difficulty to find the right platform - international companies might not be familiar with the local platforms and the international platform may have limited payment options (e.g only credit card) which might not be feasible for all the contributors <ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.
-*Reward platforms operate on all or nothing principle so campaign-makers must reach their target before accesing the funds. Therefore, it might be easy to set lower targets<ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>.
+*Reward platforms operate on all or nothing principle so campaign-makers must reach their target before accessing the funds. Therefore, it might be easy to set lower targets<ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>.
 = Reward Platforms =
-Different platforms have different requriements such as restriciting people from certrain countries, restricting projects in certain country to restricting payment options. Thus, off-grid start up companies looking into rewared-based crowdfundign should take into account all these factors. Below is an overview of the reward platforms and their restrictions<ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>:
+Different platforms have different requirements such as restricting people from certain countries, restricting projects in certain country to restricting payment options. Thus, off-grid start up companies looking into reward-based crowdfunding should take into account all these factors. Below is an overview of the reward platforms and their restrictions<ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>:
 [[File:Reward Platform Restrictions.png|thumb|left|600px|Source: Crowd Power, Success & Failure – The Key to a Winning Campaign (2018)]]
@@ Line 42: / Line 39: @@
 [[File:Reward platform currency fluctuations.png|thumb|left|600px|Source: Crowd Power, Success & Failure – The Key to a Winning Campaign (2018)]]
 <div style="clear: both"></div>
-Reward platforms also charge a fee and this should also be a criteria for chosing the appropriate platform.
+Reward platforms also charge a fee and this should also be a criteria for choosing the appropriate platform.
 [[File:Reward Platform Fee.png|thumb|left|600px|Source: Crowd Power, Success & Failure – The Key to a Winning Campaign (2018)]]
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 |-
 | style="background-color: rgb(219,229,241)" |
-''[https://deciwatt.global/gravitylight GravityLight] is a low cost light (15 lumen LED) and is powered by kinectic energy i.e you hang the light with a bag and then fill the bag with heavy objects, as the pulley does down it creates light. In 2013, they raised USD&nbsp;''400,000 in 40 days''via reward based crowdfunding and the reward ranged from a "thank you"&nbsp; on their website to gifting the light (depending on the contribution). In 2015, the company started another crowdfunding on Indiegogo. The campaign funding was matched with funding from Ben & Jerry. They raised USD 400,000 to lauch commercial pilot in Kenya. ''In 2018, they raised again USD 115,000 on Indiegogo. ''<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.''
+''[https://deciwatt.global/gravitylight GravityLight] is a low cost light (15 lumen LED) and is powered by kinetic energy i.e you hang the light with a bag and then fill the bag with heavy objects, as the pulley does down it creates light. In 2013, they raised USD&nbsp;''400,000 in 40 days''via reward based crowdfunding and the reward ranged from a "thank you"&nbsp; on their website to gifting the light (depending on the contribution). In 2015, the company started another crowdfunding on Indiegogo. The campaign funding was matched with funding from Ben & Jerry. They raised USD 400,000 to lauch commercial pilot in Kenya. ''In 2018, they raised again USD 115,000 on Indiegogo. ''<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.''
 |}
@@ Line 71: / Line 68: @@
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-''Okra Solar is an Australian company piloting a "plug-and-play smart controller” which allows solar home installers to create modular microgrids. In December 2016, the company raised USD 45,0000 via the Austaralian crowdfunding platform Pozible. They used this money for seed funding and building a prototype. Their fund raising campaign also received more than USD 10,000 match funding from DFID<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.''
+''Okra Solar is an Australian company piloting a "plug-and-play smart controller” which allows solar home installers to create modular microgrids. In December 2016, the company raised USD 45,0000 via the Australian crowdfunding platform Pozible. They used this money for seed funding and building a prototype. Their fund raising campaign also received more than USD 10,000 match funding from DFID<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.''
 |}
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 <references />
 [[Category:Cambodia]]

← Older revision		Revision as of 11:40, 28 May 2020
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	= Introduction<br/> =		= Introduction<br/> =

−	The idea of result-based crowdfunding is to raise money using online platforms where interested funders can make a financial contribution. In return, the funders might get a small non-monenatary reward such as mentioning their names on the company website, company products such as T-shirts and the funded technology itself eg. solar lights. The funders are usually motivated by altruism<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref><ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>. Crowdfunding began as a wider phenomena in USA and Europe since 2008 in response to the economic crisis<ref>Candelise, C. (2015). Crowdfunding and the Energy Sector. https://www.researchgate.net/publication/285397036_Crowdfunding_and_the_energy_sector</ref> and is now a popular funding mechanism. Some popular crowdfunding platform include: Indigogo, Kickstarter and Pozible.	+	The idea of result-based crowdfunding is to raise money using online platforms where interested funders can make a financial contribution. In return, the funders might get a small non-monenatary reward such as mentioning their names on the company website, company products such as T-shirts and the funded technology itself eg. solar lights. The funders are usually motivated by altruism<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref><ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>. Crowdfunding began as a wider phenomena in USA and Europe since 2008 in response to the economic crisis<ref>Candelise, C. (2015). Crowdfunding and the Energy Sector. https://www.researchgate.net/publication/285397036_Crowdfunding_and_the_energy_sector</ref> and is now a popular funding mechanism.
		+
		+	'''Some popular crowdfunding platform include: Indigogo, Kickstarter, Charidy, StartSomeGood and Pozible'''<ref>Crowdfunding & P2P Lending for Energy Access (2018): https://www.energy4impact.org/file/2094/download?token=H2OMM250</ref>.

@@ Line 1: / Line 1: @@
 = Introduction<br/> =
-The idea of result-based crowdfunding is to raise money using online platforms where interested funders can make a financial contribution. In return, the funders might get a small nonmonenatary reward such as mentioning their names on the company website, company products such as Tshirts and the funded technology itself eg. solar lights. The funders are usually motivated by altruism<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref><ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>. Crowdfunding began as a wider phenomena in USA and Europe since 2008 in reponse to the economic crisis<ref>Candelise, C. (2015). Crowdfunding and the Energy Sector. https://www.researchgate.net/publication/285397036_Crowdfunding_and_the_energy_sector</ref> and is now a popular funding mechanism. The differnet crowdfunding platform include: Indigogo, Kickstarter and Pozible.<br/>
+The idea of result-based crowdfunding is to raise money using online platforms where interested funders can make a financial contribution. In return, the funders might get a small non-monenatary reward such as mentioning their names on the company website, company products such as T-shirts and the funded technology itself eg. solar lights. The funders are usually motivated by altruism<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref><ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>. Crowdfunding began as a wider phenomena in USA and Europe since 2008 in response to the economic crisis<ref>Candelise, C. (2015). Crowdfunding and the Energy Sector. https://www.researchgate.net/publication/285397036_Crowdfunding_and_the_energy_sector</ref> and is now a popular funding mechanism. Some popular crowdfunding platform include: Indigogo, Kickstarter and Pozible.
 = Result-based Crowdfunding =

@@ Line 57: / Line 57: @@
 <br/>
 == Okra Solar - Cambodia ==
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 |-
 | style="background-color: rgb(219,229,241)" |
-''Okra Solar is an Australian company piloting a "''plug-and-play smart controller”. In December 2016, the company raised USD 45,0000 via the Austaralian crowdfunding platform Pozible. They used this money for seed funding and to build a prototype. Their fund raising campaign also received more than USD 10,000 match funding from DFID''''''<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.'''''
+''Okra Solar is an Australian company piloting a "plug-and-play smart controller” which allows solar home installers to create modular microgrids. In December 2016, the company raised USD 45,0000 via the Austaralian crowdfunding platform Pozible. They used this money for seed funding and building a prototype. Their fund raising campaign also received more than USD 10,000 match funding from DFID<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.''
 |}
 = Further Information =

@@ Line 2: / Line 2: @@
 = Introduction<br/> =
-The idea of result-based crowdfunding is to raise money using online platforms where interested funders can make a financial contribution. In return, the funders might get a small nonmonenatary reward such as mentioning their names on the company website, company products such as Tshirts and the funded technology itself eg. solar lights. The funders are usually motivated by altruism<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref><ref>Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>. Crowdfunding began as a wider phenomena in USA and Europe since 2008 in reponse to the economic crisis<ref>Candelise, C. (2015). Crowdfunding and the Energy Sector. https://www.researchgate.net/publication/285397036_Crowdfunding_and_the_energy_sector</ref> and is now a popular funding mechanism. The differnet crowdfunding platform include: Indigogo, Kickstarter and Pozible.<br/>
+The idea of result-based crowdfunding is to raise money using online platforms where interested funders can make a financial contribution. In return, the funders might get a small nonmonenatary reward such as mentioning their names on the company website, company products such as Tshirts and the funded technology itself eg. solar lights. The funders are usually motivated by altruism<ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref><ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>. Crowdfunding began as a wider phenomena in USA and Europe since 2008 in reponse to the economic crisis<ref>Candelise, C. (2015). Crowdfunding and the Energy Sector. https://www.researchgate.net/publication/285397036_Crowdfunding_and_the_energy_sector</ref> and is now a popular funding mechanism. The differnet crowdfunding platform include: Indigogo, Kickstarter and Pozible.<br/>
 = Result-based Crowdfunding =
-Results-based crowdfunding is mostly used by companies who are in their pre-seed to seed stage and where there are limited grant commercial and grant capital<ref>Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref><ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>. It is used to generate fund for a particular projects such as R&D,&nbsp; developing new prototypes and manufacturing new products<ref>Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>. Off-grid solar companies that have done crowdfunding include: Okra Solar, Pollinate energy and solaris off-grid <ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.<br/>
+Results-based crowdfunding is mostly used by companies who are in their pre-seed to seed stage and where there are limited grant commercial and grant capital<ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref><ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>. It is used to generate fund for a particular projects such as R&D,&nbsp; developing new prototypes and manufacturing new products<ref>Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>. Off-grid solar companies that have done crowdfunding include: Okra Solar, Pollinate energy and solaris off-grid <ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.<br/>
 Ther are two models of result-based crowdfunding:<br/>
-*Aggregate network contributions: In this model, the campaignmaker focuses on friends, family and personal network to raise funds. They typically raise between USD 10,000 to USD 50,000 and are used by start-ups. The rewards are usually small such as company T-shirts or mentioning names on the company website<ref>Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>.<br/>
+*Aggregate network contributions: In this model, the campaignmaker focuses on friends, family and personal network to raise funds. They typically raise between USD 10,000 to USD 50,000 and are used by start-ups. The rewards are usually small such as company T-shirts or mentioning names on the company website<ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>.<br/>
-*Mega-campaign: In this model, the campaigns are of high profile nature and raise 100,000 to $400,000. This type of campaigns focus on development of new and novel technology. The rewared could be the technology itself or any other products using that technology. These types of campaigns are usually rare<ref>Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>.
+*Mega-campaign: In this model, the campaigns are of high profile nature and raise 100,000 to $400,000. This type of campaigns focus on development of new and novel technology. The rewared could be the technology itself or any other products using that technology. These types of campaigns are usually rare<ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>.
-== Benefits  ==
+== Benefits ==
 *Allows for pre-seed and seed funding for companies
@@ Line 25: / Line 25: @@
 *Cost of rewards needs to be considered when they are offered .
 *Difficulty to find the right platform - international companies might not be familiar with the local platforms and the international platform may have limited payment options (e.g only credit card) which might not be feasible for all the contributors <ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.
-*Reward platforms operate on all or nothing principle so campaign-makers must reach their target before accesing the funds. Therefore, it might be easy to set lower targets<ref>Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>.
+*Reward platforms operate on all or nothing principle so campaign-makers must reach their target before accesing the funds. Therefore, it might be easy to set lower targets<ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>.
 = Reward Platforms =
-Different platforms have different requriements such as restriciting people from certrain countries, restricting projects in certain country to restricting payment options. Thus, off-grid start up companies looking into rewared-based crowdfundign should take into account all these factors. Below is an overview of the reward platforms and their restrictions<ref>Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>:
+Different platforms have different requriements such as restriciting people from certrain countries, restricting projects in certain country to restricting payment options. Thus, off-grid start up companies looking into rewared-based crowdfundign should take into account all these factors. Below is an overview of the reward platforms and their restrictions<ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>:
 [[File:Reward Platform Restrictions.png|thumb|left|600px|Source: Crowd Power, Success & Failure – The Key to a Winning Campaign (2018)]]
 <div style="clear: both"></div>
-Also below is a list of the reward Platforms and their currency fluctuations<ref>Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>:
+Also below is a list of the reward Platforms and their currency fluctuations<ref name="Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u">Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>:
 [[File:Reward platform currency fluctuations.png|thumb|left|600px|Source: Crowd Power, Success & Failure – The Key to a Winning Campaign (2018)]]
@@ Line 75: / Line 75: @@
 *[[Portal:Financing and Funding|Financing and funding portal on energypedia]]
 *[[Role of Crowdfunding in Raising Finance for Energy Access Businesses and Projects|Role of Crowdfunding in Raising Finance for Energy Access Businesses and Projects]]<br/>
-*[[Publication_-_Crowd_Power_-_Success_and_Failure_-_The_key_to_a_Winning_Campaign|Publication - Crowd Power - Success and Failure - The key to a Winning Campaign]]
+*[[Publication - Crowd Power - Success and Failure - The key to a Winning Campaign|Publication - Crowd Power - Success and Failure - The key to a Winning Campaign]]
-*[[Crowd_Funding_for_Energy_Access|Crowd Funding for Energy Access]]
+*[[Crowd Funding for Energy Access|Crowd Funding for Energy Access]]
-*[[Energy_Access_Crowdfunding:_Who_Funds_It_and_Why?|Energy Access Crowdfunding: Who Funds It and Why?]]
+*[[Energy Access Crowdfunding: Who Funds It and Why?|Energy Access Crowdfunding: Who Funds It and Why?]]
 <br/>
@@ Line 85: / Line 85: @@
 <references />
 [[Category:Financing_and_Funding]]

@@ Line 36: / Line 36: @@
 [[File:Reward Platform Restrictions.png|thumb|left|600pxpx|Source: Crowd Power, Success & Failure – The Key to a Winning Campaign (2018)]]
+<div style="clear: both;"></div>
 Also below is a list of the reward Platforms and their currency fluctuations<ref>Energy4Impact (2020): https://www.energy4impact.org/file/1996/download?token=xiKti84u</ref>:
 [[File:Reward platform currency fluctuations.png|thumb|left|600pxpx|Source: Crowd Power, Success & Failure – The Key to a Winning Campaign (2018)]]
+<div style="clear: both;"></div>
 Reward platforms also charge a fee and this should also be a criteria for chosing the appropriate platform.
 [[File:Reward Platform Fee.png|thumb|left|600pxpx|Source: Crowd Power, Success & Failure – The Key to a Winning Campaign (2018)]]
 = Case studies =

@@ Line 20: / Line 20: @@
 <br/>
 = Challenges =
 *Mostly suitable for early-stage companies or a specific project/outcomes.
-*Must leverage existing network and have innovate solutions. Entrepreneurs without existing network and an innovative idea that appeal to the funders might be at disadvantage.
+*Must leverage existing network and have innovate solutions. Entrepreneurs without existing network and an innovative idea might be at disadvantage.
-*Cost of reward needs to be considered when they are offered to the funders.
+*Cost of rewards needs to be considered when they are offered .
 *Difficulty to find the right platform - international companies might not be familiar with the local platforms and the international platform may have limited payment options (e.g only credit card) which might not be feasible for all the contributors <ref name="The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies">The World Bank, 2020. Funding the Sun : New Paradigms for Financing Off-Grid Solar Companies- https://energypedia.info/wiki/Publication_-_Funding_the_Sun_:_New_Paradigms_for_Financing_Off-Grid_Solar_Companies</ref>.
 = Reward Platforms =

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		+	[[Category:Cambodia]]
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