FAQ - Ideame


1. What is Ideame?

Ideame is a platform where "creators" (as we like to call artists, NGOs, and founders of startups eager to pursue their ideas) in Latin America, who can finance their projects through community input (crowdfunding). It is a site that offers:

  • Financing: possibility to raise funds for the startup of a venture or project.
  • Distribution: being a window to unveil ventures or projects massively in Latin America and the world.
  • Education: providing space to shape ideas, learn to sell, and build an effective distribution campaign.
  • Union: offering a place for collaborators, who want to help by funding or distributing ideas, and feel they are making a difference by contributing to worthwhile projects and supporting the Latin American talent.

2. What is "Crowdfunding"?

Crowdfunding, ("crowd" in reference to "many people" and "funding" in relation to "financing"), refers to joint financing. That is, a large group of people brings small sums of money to achieve a funding goal. The funds raised will be used to turn an idea into a reality.

3. How does it work?

Creators, in Latin America, present ideas, ventures, or projects for which they need money and distribution to achieve them. An active and engaged community provides small, and not so small, sums of money to support creative products or experiences (called rewards). The creator uses the Ideame platform to distribute the project’s campaign and achieve 100% of the contributions needed to realize their dreams.

Depending on the type of funding with which the project has been funded, the money may be returned to the collaborators in the event that the project does not reach 100%.

4. What kind of revenue can a project have?

Creators can choose between two funding types:

  • All or Nothing (Fixed): the creator must reach 100% of its funding goal before the end of the funding period. Otherwise, the creator will not receive anything and the money will be returned to the collaborators.
  • Everything helps (Flexible): the creator must establish a funding goal, which will guide the entire project. However, if it is not 100% reached, creators can collect the proceeds anyway to start with the project and deliver the rewards to the collaborators. Before receiving anything, the creator is required to submit an alternative plan to Ideame, explaining how the total collected will be used. This will passed to collaborators as well. For example, a fashion creator wants to launch her ​​new clothing line and need U.S. $ 5000. However, 10% is raised, so she decides to use that money to register the trademark and logo development of her clothing line. Even though she wasn't able to reach her funding goal, it brought her a little closer, so by receiving the money raised she will be able to get started with her project.

5. Do either of the two funding types work for any project?

  • All or Nothing (Fixed): We understand there are projects that have a concrete start and finish, in which they do need 100% of the funds in order to turn the idea into a reality. For example, the publication of a book, where the chances are that the person creating the book will also offer the book as a reward. Recommended for creative projects.
  • Everything helps (Flexible): We believe this one would be essential for social impact projects and ventures (start-ups). The funds all add up to working with the mission or objectives of the company. For example, an NGO wants to work with several schools in the country, but if it does not reach 100%, could instead focus on a single school until it reaches the initial funding goal. Recommended for social projects or ventures.

6. Why do people support projects?

  • a. Relationship with the creator: the creator's network plays an important role in achieving the necessary funds. Usually, family members and friends believe in their talent and support them financially.
  • b. Projects/Ideas: People identify with ideas and with real people who feel passionate about bringing them to life. The stories behind the projects motivate and inspire people to help.
  • c. The incredible experience of helping: Being part of a project, or to be the patron of an artist, is a growing and unique experience associated with the project. You get those warm fuzzy feelings inside!
  • d. Rewards: The more intelligent, funny and original the rewards are, the more there will be an interest to contribute. Being the first to have a product that has not yet been released, having dinner with an artist, or any other unique reward is motivation enough to contribute.

7. Can they support any project in any part of the world?

Yes. Anyone anywhere in the world can support a project, provided they have a credit card.

8. What kind of projects can be on Ideame?

Any project with a beginning and end, with a defined objective, may be on Ideame. Today we have many categories into which you can enter your project. We focus on creative and/or social impact projects in Latin America.

9. Once the project is on Ideame, does the company have authorship or company property rights over the project?

No. Creators are the owners of their ideas, works, and creations. They are the owners of the intellectual property of their projects. Ideame is a social enterprise that merely offers a means to promote ideas, make them known, and get financing because we believe in the power of social networks and talent in Latin America.

10. How can I be sure that my idea won’t be stolen?

The platform is based on community support and encourages strong relationship between members. Sharing ideas is part of the distribution process and obtaining financial support. We understand that good ideas and their execution depends on the people involved. Anyway, if you want to be safe, you can take action as needed to protect your intellectual property rights.