How do you get financing for your project online?
In light of banks’ reduction of loans allocated to financing small projects, new financing channels have emerged in recent years aimed at securing funds for entrepreneurs, and bridging the financing gap facing small and medium enterprises in the Arab world.
Participatory or crowdfunding platforms aim to raise the necessary funding online for startup ideas and projects. Where the owner of the idea presents the idea of the product or project on the participatory financing sites, for a period of time specified by the site.
We present to you the most important Arab websites that are interested in financing entrepreneurial youth projects, through crowdfunding:
Money site
A site interested in financing innovative projects in the Arab world. The Money seeks to provide financial support for productive youth projects, as the site identifies on its home page the projects it promotes to benefit from crowdfunding, including drawings and cartoons, engineering and design, arts, society, dance, education, environment, fashion, movies Television, food, games, inventions, social activities, software and the Internet.
According to the site, the project must contain a specific goal and a specific end, and in the event that the project owner cannot reach his goal when the deadline ends, the money is returned to the shareholders. Zoomaal deducts 5% of the profits if the project succeeds, but in the event of the failure of the project, neither the site nor the customer will receive any amounts, as the amounts allocated for financing return to the financiers.
site can
A site characterized by being a platform for crowdfunding and participatory innovation. It appeared in the year 2012, and the vision of the founders of “Yumken” lies in transforming “Fahlawa” into an added economic value. The site was created to fund scientific projects, after these projects found difficulties in finding funding. The site spread because of the founders’ belief that innovation is the only way to economic growth and poverty eradication.
The entrepreneur can present his idea on the platform, explaining the importance and importance of the new product that revolves in his head, and then waits for a phone call from the owners of the platform, where the idea is discussed, its ability to succeed and penetrate the market, and then the financing process begins by the public.
Simple site
An innovative financing platform that relies on marketing the idea through social media, and linking it with financiers. Simple is a startup company established in 2014, based on a new idea that is summarized as follows: “Your click has a superpower”, and “One click changes the world”, meaning that by clicking or clicking on the site, the project begins to be promoted. She is the owner of the clickfunding model (click funding), and this model allows web users to contribute to achieving development goals by watching and interacting with simple videos that she produces.
Clickfunding enables web users to form teams in the community by simply clicking through computers, or through phones, to interact with videos. According to “Basita”, helping others and supporting projects does not require time, effort or money. Rather, the idea is based on connecting the initiative or project to a funder in exchange for a number of views and interactions on the video of each campaign that is published.
Liwa website
Liwa, a Jordanian platform that aims to finance projects across the Arab world. It is based on helping to finance small and medium enterprises and create job opportunities. The entrepreneur can present his idea and obtain approval, so the company and the investors will finance the project, provided that the owner of the project repays the loan in monthly installments.
Eureka site
Eureka defines itself as the first global crowdfunding or crowdfunding platform for shares over the Internet. It indicates that crowdfunding is when a group of people, owners, family members, or fans come together to give donations to an idea, project or company through an online platform. The reason for the founding of crowdfunding is to help fund innovations and non-profit projects such as films, music and documentaries.
Crowd investing allows companies to raise funds from the public in return for owning a stake in the company through an online platform, while investors want to invest in startups and growth companies in exchange for owning shares.
Now that you know that you can get financing for your project online, let your ideas run wild and get involved. You will be surprised if you know that the value of the sums collected through participatory financing websites is 16.2 billion dollars, according to the American Foundation “Massolution”, and according to the World Bank, participatory financing organizations through websites can generate 5.6 billion dollars for the Middle East and North Africa region by 2020. 2025