Here are Frequently Asked Questions about UKenya
What is UKenya?
UKenya is a donation-based crowdfunding platform that offers an alternative to raising capital for projects and business ideas in order to get them funded.
The UKenya platform has been established to promote entrepreneurship and create employment for the Kenyan youth. This platform creates an opportunity for employed Kenyans to help their unemployed peers to get an employment to improve their lives the fed for their families.
How does a crowdfunding campaign work?
Crowdfunding is a concept where small contributions are collected from a large number of persons and entities to fund a social or a charitable cause during a particular timeframe.
The project ideas go through standard due diligence procedures and deemed fit to be a life-changing social idea, the Campaign Owners will create a project page to promote their idea, that will feature on the UKenya platform.
Donors also referred to as backers, will support projects voluntarily. Since the platform is donation-based, donors will contribute without expecting any reward in return.
What kind of projects are eligible on the UKenya platform?
UKenya strives to promote diversity and Innovation to create impact and employment. Arts, Film, Sports, Technology, Startups, Research, and Community Causes are eligible on the UKenya Platform. The Projects featured on the UKenya Platform must be innovative, artistic, creative or have a social perspective. UKenya does not accept campaigns that do not improve people's lives through the creation of employment.
Are projects followed by the UKenya team?
A dedicated UKenya team is assigned to crowdfunding campaigns and the campaign owners are given the necessary support, during and after their project.
Campaign owners must attend Self-reliance training for one day in any of the events organized by Goblis Group Foundation regularly. The campaign owner prepares their project, upon project submission, UKenya representative will contact you and appoint a dedicated contact for your project. You will be able to present your idea and the UKenya dedicated contact will give you more information about Crowdfunding.
If the Idea is potentially compatible with our policy terms, a due diligence exercise will follow and the campaign owner will be given guidance. The campaign owner can then start creating their project page and once ready can submit it for our review. When the page is finalized, it will be published on the platform. Once live on the UKenya platform, campaigns will be promoted and the campaign owner will have the task to invite friends, family members, and the general public to fund their idea.
Is there a timeframe for a crowdfunding campaign?
A campaign will be active for a maximum of 90 days (three months). This will make the campaigns more dynamic and reduce the risk that potential donors may lose interest. The duration of the campaign needs to be short so that more resources cannot be spent on campaigns.
What is the financial limit for a campaign?
There is no limit set, this is to be decided by the project owner. The funding target needs to be feasible and reachable, this is determined by the needs of the project, the promotional effort, the type of campaign, the product or idea behind the campaign and other various factors. The higher the target, the more commitment in terms of resources and time to be given to the project in order to achieve the funding goal.
Am I the only owner of the project?
The entrepreneur who creates the campaign is the sole owner of the project and the only point of our official contact. This does not mean that you cannot build a team to assist you during the campaign. Projects with a team of committed individuals have a higher chance of success.
What documentation has to be provided by the project owner?
The following have to be provided by the project owners:
Individuals must provide us with a copy of their Identification Card and KRA PIN.
Companies / Business Entities must present us with the Registration/Incorporation Certificate, CR8, and KRA PIN and Director's ID copies and KRA PINs. Documents to be accompanied by a resolution to fundraise.
Non-Profit Organizations must provide a Copy of the Registration Certificate, a copy of by-laws and KRA Certificate. Officials to provide ID copies and KRA PINs. Documents to be accompanied by a resolution.
Why should I register with UKenya and how much does it cost?
It will cost you KES 2,000 to register with us to create your account. We run a cloud platform similar to your bank account to ensure that have a quality service no mishaps that takes place. We aim to be open and accountable for every single donation made through our platform.
Registering with UKenya enables you to discover the world of crowdfunding:
Project owners will be able to develop their ideas into potentially crowd fundable projects and showcase them on the UKenya platform.
Donors will be able to discover the ongoing crowdfunding projects and support those projects that draw their attention.
To register, click on Register and fill in the details, or else you can connect through Facebook, Twitter or Google Plus by clicking on their icons.
How do I Manage my profile?
Once you register you will be redirected to a profile dashboard with the following sections:
Account: Profile details and other Settings
Backer Profile: Showing Projects you have supported on the platform
Creator Profile: Showing Projects you have created on the platform
Creator Account: Form to create a mailing list of your supporters
Create Project: Form to create your Project Idea (Save Draft and/or Submit for Review)
How confidential is my information?
We are very diligent with the information submitted by our users and we do not give out any personalized user information and we do not, under any circumstances, give personal data to third parties or partners. Once the campaign is live, project owners will have access to email data for those people backing their campaign to thank them.
Conditions to launch a crowdfunding campaign?
It is the start-up or project owner who has to decide what they want to achieve from crowdfunding and ensure that they can provide what they have promised, once funds are raised. A start-up cannot expect to raise funds if their proposal does not factually show it is good enough to succeed. Successful campaigns usually have a mix of presentation, video and a story, which together give clear information on the product, and details of how the funds will propel the project. We will only feature feasible and reachable business ideas.
What makes an attractive campaign?
The key for Crowdfunding to succeed is having:
Writing an Attractive Project Idea; a genuine concept that will be supported by the crowd.
Having a dedicated team which we will provide
Having an attainable funding target (research and costings)
Planning a good timeline for the campaign
An effective promotion plan and channels
Good attractive content, campaign updates, and calls to action
Can I raise more money than the goal?
The Goal Amount specified by the Project Owner is the amount needed to establish and run a successful start-up. This does not mean that you can only raise up to that goal. The more backers you attract to fund your campaign the more money you will be able to raise for your project. Please keep in mind that we will deduct 6% of the total collectible amount for platform maintenance.
What are the Expansion Goals?
Expansion Goals are supplementary goals related to the project that can be achieved as an extension to the main funding goal, being part of business expansion plans. These goals are only achievable if the initial crowdfunding goal is met. This will help the project owner to fund another aspect of the project.
What happens if my project doesn’t reach its fundraising goal?
If the crowdfunding campaign does not reach its fundraising goal within three months, our investments approval committee will sit to reason with you. If the sums raised can run a downscaled enterprise, our team will take you through to the drawing board and work out something new. If the funds will not make any substantial investment, the funds will be transferred to another similar business campaign which will be almost realizing its fundraising campaign.
Can I include funds that I received outside of the UKenya platform?
The UKenya platform will promote your campaign and help you collect donations through given online channels. Any donation you get outside of the UKenya platform, however, can still be added to the running total of the campaign in order to reach the funding target.
Funds collected outside the platform can be included through the UKenya platform backend by sending the necessary information to one of the dedicated program manager appointed to you.
Why is it important to promote my project and how can I promote it?
The Active Promotion of your project plays an important role in the actual success of your crowdfunding campaign. Building a campaign page on its own, will not be enough to succeed, you have to shout out to the crowd as well.
Firstly promote through your own community, networks, family and friends for they will be more willing to share and create an exponential growth.
Source channels and mediums that will assist you in directing your crowdfunding campaign to the crowd out there, through their information streams and this is widely possible through social media platforms.
Conduct events to promote your campaign.
Compile a list of contacts in order to send newsletters, emails or project updates.
What are the fees to use the UKenya platform?
UKenya will keep a 6% service fee to maintain the platform and generate our UKenya team staffs. The donors will meet Payment Gateway charges ranging between 1% for M-Pesa to 3.5% for other Gateways per transaction but for PayPal donations, we will deduct transaction charges as forwarded by Paypal. These fees are only applicable for online donations submitted through the platform’s online payment channels and will be levied including to unsuccessful campaigns. In addition, there will be a KES 2,000 registration fee.
How will I receive the collected funds?
When your campaign ends, we initiate the process to transfer the funds to you as follows:
A breakdown of funds collected online with all respective fee percentages will be sent by the UKenya Finance Administrator for your verification and approval.
Once approved, your bank details will be requested in order to complete payment.
A bank transfer will be effected at the end of the month in question.
If the campaign is unsuccessful, the funds will not be transferred, until a new business plan is agreed upon. If the amount is too little to start any business, the funds will be channeled to another similar campaign with substantial donations.
Can I Cancel or Delete my campaign?
A campaign can be canceled or deleted before the campaign is launched on the platform. A request has to be sent to the UKenya Administrator.
Once the campaign is live, if you want to cancel or delete your project, you have to send an email to your project administrator explaining why. An email notification will be sent to the individuals who have pledged with this justification advising them on similar projects to contribute to. You will not receive any funds.
How can I Support a Project?
To support one of our Crowdfunding Projects you need to register on the UKenya website.
Registering with UKenya will enable the potential donors to discover the ongoing crowdfunding projects and support those projects that draw their attention.
Once you are on a campaign page, you can click on the suitable campaign of your choice and proceed to donate. The payment process will direct you through all the stages up to final payments which are Debit and Credit Cards, Paypal, M-Pesa and some online banking systems. If you haven’t registered before donating to one of the projects, you will be prompted to create an account during the payment process.
What payment methods are offered?
The UKenya Crowdfunding Platform uses an online payment method and offline for mobile money payments.
You can donate through Debit and Credit Cards methods, Paypal, M-Pesa and some online banking systems in the United States and European Economic Area.
Is my donation considered an investment in the project?
No equity is given, as this platform is a donation based platform.
Giving a donation to an enterprise does not give you investing rights in the project.
What protection is there for the supporters?
Whilst campaigns are vetted and fraud detection systems are in place, the supporters give funds at their own free will and with no financial payback. Supporters should use caution when donating, and not donate more than they can afford to.