Published 20 Oct 2011
[cont'd] ownership and are solely responsible for the outcome of any fully funded venture. There are no monetary or equity incentives offered.
Using the same concept as project funding Ulele does provide something a little different with its Presales feature. Anyone who already has a great product or idea can set up a presales page and describe just how many sales would be needed to get the thing produced. Donors interested in buying the finished article can pledge in the same way as they would for a project and receive the item if a presale is successful.
Like most of the competition Ulule charges a 5% commission on all collected amounts for successful campaigns and nothing if a target is not met. Likewise donor’s PayPal accounts are only raided when a project reaches a successful conclusion.
I like the idea of crowdfunding sites having some kind of limitation on what can and cannot be included. Anything that benefits the community or is of a creative and artistic nature should have a slightly more exclusive route to funding rather than being lumped in with more general money raising sites. Ulule seems well placed to service that need.