For project owners it is about collecting the funds. Using crowdfunding, project owners no longer have to get loans or provide equity to fund their projects. In addition to the funding part, projects get a lot of exposure while crowd funding.
It’s not only the project owners who benefit. Project backers and sponsoring companies benefit. Individuals who back projects will benefit from the rewards that are offered by project owners.
Crowd funding is the usage of the power of the crowds to get your project funded. In other words, it is the action of pooling small contributions from the crowds - who are your family, friends, and friends of friends – to reach a funding goal that will turn a project into reality.
Crowdfunding is about communicating with crowds, and convincing them with your idea. After all the crowds are the project’s funders!
If a you can’t convince 5 friends at least to support your project, then the public won’t.
Submit your project to Zoomaal
You do so by signing up and creating a campaign. Your campaign will have to have 4 essential parts, the video, the description, the reward packages and your short biography. Afterwards, the Zoomaal project submission team will take a look at your project and if it is ready they’ll publish it on the platform to start receiving funds.
Start collecting funds from people.
Share your project as much as possible! Use all social media channels to reach out to all your friends. You want the crowd to know about your project before they can fund it! You can’t fund something you don’t know about. If your project is successfully funded, the collection of funds will begin from your backers. The funds will be transferred to the project owner’s account within 10-15 days after deducting Zoomaal Fees and Third Party Fees. If the campaign does not get successfully funded the contributions made do not proceed and no cash is deducted from any backer.
Execute your project
This is the part where you use the funds you collected to make your project a reality.
Zoomaal adopts the all or nothing crowd funding method. This means that each project is allowed to collect its funds after the deadline is reached and only if the funding goal is reached or exceeded. If a project fails to reach its funding goal then the funds are automatically returned to the backers.
Zoomaal allows its users to divide their total goal into milestones starting 10% of the total goal. Upon reaching your first milestone your campaign is successful and you may collect whatever you raise after your first milestone when the campaign duration ends.
Zoomaal is a crowdfunding platform for projects only. Zoomaal defines a project to be non-open-ended and has a definite goal. Projects should not contain any prohibited content (alcohol, violence promotion, political actions, and pornography). Finally, projects on Zoomaal should not be a fund my life project and should fit into the categories offered on Zoomaal: Animation & Comics, Architecture & Design, Arts, Community, Dance, Education, Environment, Fashion, Films & TV, Food, Games, Inventions, Live & Social Events, Missions & Endeavors, Music, Photography, Research, Software & Web, Theater, Writing & Poetry.
Zoomaal charges only successful projects. Once successfully funded, Zoomaal deducts 5% of the funded amount.
Zoomaal supports Master Card, Visa, the most popular payment gateways in the Arab world. This makes your project more likely to get funded!
We noted that some projects were losing potential funding in countries where online payments by credit
card are unavailable.
This problem is especially common in North African countries. So we decided to solve the problem by introducing an offline payment method that will allow everyone to take part in bringing back Arab creativity.
You receive the funds only when the project campaign deadline is reached and the funding goal is completely reached. It usually takes a maximum of 2 weeks to get the funds transferred to the project owner.
Zoomaal defines a project to be non-open-ended and to have a definite goal. Projects should not contain any prohibited content (alcohol, violence promotion, political actions, and pornography). Finally, projects on Zoomaal should not be a fund my life project and should fit into the categories offered on Zoomaal: Animation & Comics, Architecture & Design, Arts, Community, Dance, Education, Environment, Fashion, Films & TV, Food, Games, Inventions, Live & Social Events, Missions & Endeavors, Music, Photography, Research, Software & Web, Theater, Writing & Poetry.
Give your project a name that is specific and direct to the point. You don’t want to include words that are abstract and won’t help you in raising funds. Titles are part of first impressions so make sure to give it a sexy one.
Make it short and mostly informative. Imagine you just met someone on the road and you want to tell him about your project. How would you do it? Now after that’s done imagine yourself being told what you said to that friend. Is it attracting? Would you back it if it were your first time to hear about it?
You can make use the following as an outline for your description.
In the end do not forget to tell the funder that he can always help you by sharing. Remember that crowd funding is gathering funds from the crowds. So without the crowds there are no funds.
DON’T FORGET TO ADD IMAGES
What are things that you can give?
Keep in mind the following:
This is a small paragraph about you. The user does not want to know boring details. Just tell him what you do in life. Show him that you are the best man to do this project. You can state your age(if it helps), your educational degrees, your work experience, and above all tell the user what is your passion (and make it related to the project)
Be smart. Use social networks and other networks. You have Facebook, Twitter, LinkedIn, Blogs, emails, etc.. Any media tool is an additional network for you to use to get your idea out and reach your goal.
Go out with friends and talk about it. People would love to hear new bright ideas and better than that, is that people love to be part of it and support your idea. So do not fear to share the news personally.
Use the press
Media arms love to support the community and help it grow. Knowing that your project aims to help this community and/or create a better world then media arms such as newspapers, magazines, TVs, etc. will be of assistance for sure. Just go out there and contact them!
Don’t go too far
People don't like scam and do not like to be taken for granted. So while telling your idea, don’t modify and when sending messages do not spam. You will lose your funders that way.
Collecting the rewards
Once your campaign ends and your project is completely funded then you can proceed with collecting the funds. We will transfer the funds to a bank of your choice. This may take up to 1.5 months.
Updating the funders
Now that you received the funds, you have to keep your backers updated. Share with them the latest news. Update them about how things are going. They are all interested in your project because they all funded it!
Delivering the rewards
Now it’s your turn of the deal. The backers have funded you. Now you have to give them their rewards. Make sure to deliver the rewards as soon as possible and with the specifications you provided in each reward’s description.
No, according to Zoomaal guidelines, and in order to ensure as many funders as possible, a video is required.
This depends on the project owner and how fast he/she can prepare the rewards.
Zoomaal’s terms and regulations that were signed by project owner upon project creation, enforces project owners to deliver the rewards
Before any project is approved Zoomaal checks whether the project owner is capable of creating such project
If a project does not reach its full funding goal, then the funds are returned to the original funders.
In order to cancel a contribution, please signup or log in using the email address you used to pay. Afterwards, navigate to the "Contributions" section in your account where you will be able to cancel any fund you wish. Note that In case of a chargeback request from the bank on a FRAUD transaction made to any campaign, the project owner is requested to refund the backer with full amount.
Zoomaal is an online crowd funding platform for the Arab world that makes it easier for creative projects to raise funds from the crowds. Zoomaal is a pan-Arab initiative by the 4 major institutional investors in the MENA region.
Zoomaal’s partners are MEVP(Middle East Venture Partners), Wamda, N2V, and Sawari Ventures. Those partners are considered to be the 4 major investment and entrepreneurship hub in the MENA region.
|Zoomaal Fees||3rd-Party Fees|
We only take this fee if the project campaign was successful
|2.9% + $0.3
per contribution by credit card.
Paypal fees are 3.9% + $0.4/contribution.
Fees for other payment methods may vary
$45 wire transfer fee is added for cross-country transactions.
All funds are returned back to the original funders. (Subject to fees)
For offline payments, no processing fees apply.
For credit card transactions, $1 is deducted.