Crowdfunding FAQs
We started our journey in the world of crowdfunding back in 2016. Despite facing challenges along the way, such as the shuttering of several platforms in Palestine, we persevered and continued our mission of providing Palestinian organizations with the tools to tap into the power of their networks through crowdfunding. Today, we are proud to take another step forward by sharing our expertise and resources with you.
With hundreds of training sessions and awareness campaigns under our belt, we believe that Palestinian organizations are well-equipped to lead their own successful crowdfunding campaigns. Our team is dedicated to making this process as easy as possible for you and is available to offer feedback and guidance on your campaign plans and drafts.
To start your campaign, you can use the following suggested templates to build your plot, text, and video and also plan your campaign outreach.
Over the years, we’ve encountered many questions about the crowdfunding process. To ensure that you have all the information you need, we’ve compiled a comprehensive list of answers to these inquiries. Before you embark on your own crowdfunding journey, be sure to give these answers a thorough read!
Crowdfunding FAQ
What is crowdfunding?
Crowdfunding is a method of raising funds for a project or venture by seeking small contributions from a large number of people, typically via the internet. It’s a way for individuals or organizations to raise money for their creative ideas, products, or services, by bringing together a community of supporters who are willing to contribute financially. Crowdfunding campaigns can be run through dedicated websites and platforms, and contributors typically receive a reward or perk in exchange for their support. The success of a crowdfunding campaign depends on building a strong community of supporters and effectively communicating the value and vision of the project.
Who can crowdfund in Palestine?
Crowdfunding is only available for registered organizations and companies in West Bank and Jerusalem. Organizations in Gaza can crowdfund through an international partner with a foreign registration and has the ability to transfer money to Gaza. Crowdfunding is not available for individuals in Palestine.
I am an individual in Palestine, or an organization registered in Gaza, can I crowdfund?
It’s unfortunate that crowdfunding is not currently available for individuals living in Palestine or organizations registered in Gaza. However, there may be options for you to still pursue crowdfunding. One option could be to work with a friend who holds foreign citizenship that is accepted by Launchgood. Another option could be to partner with an organization registered in a country that is accepted by Launchgood, such as in Europe, the United States, Canada, or another accepted country, and has a way to transfer funds to Gaza. By exploring these options, you may still be able to take advantage of the benefits of crowdfunding for your organization or project.
I am not Palestinian, how can I raise money for a cause or project in Palestine?
If you’re not Palestinian and would like to raise funds for a cause or project in Palestine using your personal bank account, you may want to explore crowdfunding platforms options and regulations in your country. However, please note that we are unable to provide specific information about transferring funds to Palestine after the campaign ends, as the process can vary depending on the country.
If you’d like to run the campaign using the bank account of a registered Palestinian organization, we encourage you to read the additional information provided on this page to gain a better understanding of the process.
Which crowdfunding platforms work in Palestine?
Launchgood is the only crowdfunding platform that works in Palestine and it’s restricted to registered organizations only in the West Bank and Jerusalem.
Is crowdfunding suitable for my organization?
Crowdfunding is a powerful tool that can help you tap into the power of your network. However, it’s important to keep in mind that the success of a crowdfunding campaign depends on having a strong network of supporters to begin with. Before launching a campaign, take some time to reflect on the size and strength of your network, and consider how much support you can realistically expect to receive. If you believe that your network is not yet strong enough, it may be a good idea to work on building it up first before launching a crowdfunding campaign. This way, you’ll be better positioned for success and able to reach your fundraising goals.
Can BuildPalestine share my campaign with its network?
As we shift our focus to supporting local changemakers in building impactful social enterprises, we are unable to share campaigns with our network at this time. However, we are actively exploring ways to make this a possibility in the near future.
Can BuildPalestine receive donations on behalf of individuals or organizations?
Unfortunately, we are not allowed to collect and transfer any funds for individuals or organizations.
Does LaunchGood offer an offline payment solution?
Campaign owners can receive offline donations from their supporters and add them to the campaign by using the “Add offline donation” button in the campaign, and the offline amount will be reflected in the amount raised.
If you can a donor, you can reach out to the campaign owner to arrange a cash donation.
Yes! You can donate directly to projects in cash. All cash donations are added as offline donations on the platform.
What requirements and documents are requested by Launchgood to accept my campaign?
To launch your campaign on Launchgood, you’ll need to provide several key documents. As a starting point, Launchgood will require the following:
- An incorporation document translated into English
- A bank letter with your bank account information in English
- A copy of the passport or ID of 2 key controllers (authorized signatories)
It’s also important to have an online presence, including a website and social media channels in English. To further support your campaign, Launchgood may also request additional information, such as:
- An audited financial statement for the past year (optional)
- An organizational chart
- Proof of international affiliation or partnership (optional)
- A published AML policy on your website
Having all of these documents on hand will help ensure a smooth and efficient launch process.
I finished my campaign, but the fund was declined by my Bank. What should I do?
Some banks require additional information to accept the transfer from Launchgood. Try to check with your bank before you request the payment from Launchgood. If this is the case, you can reach out to Launchgood team and ask for a letter that describe the purpose of the campaign. This letter is usually accepted by Banks in Palestine.
I have a campaign draft, how I can get BuildPalestine’s team feedback?
Send us your campaign to [email protected], and we will make sure to get back to you in a timely manner.
I still have questions about the crowdfunding process, what to do?
You can send us your question to [email protected] and we will get back to you as soon as we can.