- Can I publish a project myself?
- Who decides what is published and not?
- Which criteria are used for approval?
- How do I protect my patent or IP on AppsFunder?
- Which info do I need to provide?
- How long does it take to get feedback on a funding request?
- Why do you use milestones?
- What are typical examples of milestones?
- Who will define the milestones of a project?
- Is there a maximum term per milestone?
- Who will check when a milestone has been completed?
- What happens if a project fails to realize a second or third milestone?
- Will believers be informed when the project owner completed the realization of a milestone?
- Do I need an approval first of my project?
- What can be offered as a reward to believers?
- How does the funding work?
- How do I get my money?
- Do I need a Paypal-account?
- Do I receive an invoice for the fees you charge?
- What happens if I don't pay the success fee?
- Can I request to make changes to my project?
- Do I receive all funds per milestone?
- Do I receive my money before or after reaching a milestone?
- Can projects collect more funds per milestone than the set target?
- I am unable to complete my project as listed. What should I do?
- Can a project be deleted?
- So I got funded, my app is for sale, what happens now?
- How are my funders paid back?
Can I publish a project myself?
Yes, you can! Just submit your project here. In case we feel the pitch provied needs some additional work, we will contact you and make it better together. During the needed t improve the project pithc, the project will be disclosed temporarily.
Who decides what is published and not?
We do. We want to guarantee quality standards of the projects published.
Which criteria are used for approval?
We screen projects on the following elements:
- Does it fit our market focus, being mobile apps?
- Is there an acceptable level of professionalism and realism for the project? We check profiles, websites, and company data if available. But more importantly, we will discuss with project owners in detail and make a sound judgement.
- We check that the app-content is compliant to the distribution-guidelines by Apple and Google for their app markets.
How do I protect my patent or IP on AppsFunder?
When using AppsFunder for funding (part of) your development, you need to find the right balance between transparency and protection. The project owner decides which content is made public, and which remains private. Some guidelines:
- If you have IPs registered or pending, make it public. It adds value to your project. Potential copycats will be discouraged as well.
- Should your project have special algorithms, use special code, have extraordinary graphic components, describe them, use a sketch, use a chart, to make it tangible to potential funders, without disclosing your holy grail
- Please keep in mind that great ideas without execution are not worth a penny. As soon as you start disclosing information on the project to potential partners, investors, ...there's always a risk. But for these partners, your project is not part of their core business anyhow.
Which info do I need to provide?
When submitting your app on AppsFunder, you will be asked to provide:
- The name of your projectt
- The platform on which you will build it, and the type of app
- The milestones you want to use during the funding process
- The target investment-amount per milestone
- A short but powerful pitch why your app is so unique
- At least one app-icon picture, and 1 screenshot.
In addition, you will be able to add any document that you are willing to share: technical descriptions, marketing plan, business plan, company presentation,
How long does it take to get feedback on a funding request?
Your project is published and fundable immediately.
In case we feel the pitch needs more work, we will contact you to make it better together. We commit ourselves to get back to you in 48 hours to explore your request. As we know speed is important, we want to keep the evaluation time as short as possible. The better the info you provide us, the faster we can approve or not.
Why do you use milestones?
Because we think it's a good way to increase chances for successful funding to projects. Project owners get parts of their total funding need earlier, and are boosted to move to the next milestone. Funders get a better view on the progress of a project, and can adjust their funding-attitude according the stage the project is in.
What are typical examples of milestones?
Typical examples can be:
- completed design of wineframes, mock-ups
- completed design of visual interfaces, screenshots
- functionality ready up to 80%
- private beta - version ready
- public beta-version ready
Who will define the milestones of a project?
You do. You can decide the milestones and their funding target when you submit your app on the site.
Is there a maximum term per milestone?
Yes, the maximum period for a single milestone is 3 months. Longer periods would considerably decrease the engagement by your funders.
Who will check when a milestone is completed?
We ask project providers to deliver us the evidence for having fulfilled the content of the milestone.
What happens when a project fails to realize a second or third milestone?
We will extend the funding period, and use all our strength to push it to the next milestone.
Will funders be informed when the project owner completed the realization of a milestone?
Yes, the community is alerted automatically. We updatie the project on the 'News'. We will provide material or links to the material so the community can check it.
Do I need an approval first of my project?
No. When launching your project, your project is listed immediately on the platform. However, when we feel the project pitch needs further work, we wil cntac you to make it better together. During the time needed to improve the pitch, we will disclose your project.
What can be offered as a reward to funders?
AppsFunder is based on funding thanks to purchasing REWARDS and invest in a REVENUE SHARE. This is an essential principle of our offering.
REWARDS: receive pledges from $1.00 by offering attractive reward-packs related to the project. This can be a free copy of the app, an invite to a launch party, a private cht with you, T-shirts and other merchandise, credits in the app, credits on the website, access to special content, ....plenty of choice!
REVENUE SHARE: receive pledges between $25.00 and $100.00 and offer a MULTIPLE RETURN from your sales on AndroidMarket and Apple Appstore.
How does the funding work?
Every project has milestones with a funding goal and a time limit set by the project creator. When the deadline is reached, there are either of two results:
- Funding Successful: If a project has met or surpassed its funding goal, all backers' credit cards are instantly charged and funds are transferred to the developer.
- Funding Unsuccessful: If a project has NOT met its funding goal, all pre-orders are cancelled. That's it.
How do I get my money?
In case of successful funding of a milestone, we transfer the collected funds to you. You will receive the amount raised in different slices. Each new payment is made against providing us evidence of the work executed. We use Paypal for transferring the funds to you. This is done without charges when we can transfer funds towards your PayPal-account.
Do I need a Paypal-account?
Yes, we will ask you your account details so we can transfer funds free of charge if your milestone is successfully funded.
Do I receive an invoice for the fees you charge?
Yes, we issue an invoice for our fees.
What happens if I don't pay the success fee?
Hmm, we hope this won't be the case, and that you acknowledge the value of our platform. But to avoid such, we do the following: upon succesful funding, you will receive in advance the amount needed to pay our success fee. As soon as we receive the payment, we send over the remaining part.
Can I request to make changes to my project?
Yes, you can edit your project details at any time by accessing your account and project details.
Do I receive all funds per milestone?
Yes, but in smaller slices. We make e.g. 30% available at once, the next part will be made available when you provide us with evidence of the work done.
Do I receive my money before or after reaching a milestone?
You receive the funds needed to execute what you have specified as milestone. So yes, in advance :)
Can projects collect more funds per milestone than the set target?
No.
I am unable to complete my project as listed. What should I do?
We encourage you to deliver what you have promised. Be courageous, pull yourself together and make it happen still. Don't disappoint your backers.
Can a project be deleted?
Not once it has been launched to the public. Projects remain accessible, even if funding fails. That's part of the game.
So I got funded, my app is for sale, what happens now?
We will ask you to provide us access to your developer-account on the App Store or on Google Play. We need this access to track the app revenues.
How are my funders paid back?
You are responsible for deleivering the rewards towards funders that supported your project by making pledges for rewards.
We take care of refunding your funders. By allowing us to access your developer-account on the App Store or on Google Play, we can check the revenues of the app funded with us. Then, two possible scenario's can be implemented:
- if your developer-account contains this only funded app, we will organize the revenues from the app to be paid to a designated account by us, we refund your funders.
- If you have multiple apps on your account, we will allow you to collect the revenues from the store on your own bank-account. We will invoice you monthly then.