Draper University Teams Up With Indiegogo to Allow Applicants to Crowdfund For Tuition

This week, crowdfunding platform Indiegogo announced that it has formed a partnership with Draper University that will allow applicants/potential students to crowdfund for their tuition

The site shared:

indiegogo“At our site, you can see campaigns from budding entrepreneurs who explain why they want to attend Draper University and what business they plan to launch. Through these campaigns, we’ve gained many interesting insights about raising money on Indiegogo and how to catalyze your community.

Also revealing how simple it is to create a crowdfunding campaign, Indiegogo explained:

“Launch a fundraiser that will personally invest your network in your success and entrepreneurial pursuits. Picture Piotr Yordanov, a Fall 2013 Draper University Alumni. Aside from his charismatic video shoot, Piotr leveraged his skills as a software engineer and website designer to incentivize his network to donate to his campaign. By knowing your strengths and skillsets, you can determine what exactly you need from others to succeed. Donors were more likely to donate to Piotr’s campaign knowing they would receive a ‘free’ one-hour tech consultation.

 

Students“Similar to when starting a business, determining who your contributors will be and where to find them is essential to meeting your goal. Are your donors your Facebook friends and family? LinkedIn connections & colleagues? Tech lovers in the Twitterverse? Once you’ve tested where the majority of your donors are, you can more efficiently use your time by putting forth effort in these specific areas. Make sure you know where the first 30% of your funds are coming from before launching your campaign. If you aren’t confident you can hit this within the first few days, adjust your goal accordingly.

 

“The more compelling your story and the more convincing your business idea, the more likely you are to reach your funding goal. Your audience needs to know why your school tuition will enable your business, and the message should be powerful and clear. Your donors will want to know that their money will empower you personally, but more importantly that you’ll make a big difference in the long run. Being transparent is crucial to the success of your fundraiser. A breakdown of exactly how the funds will be used can be helpful for instilling a sense of trust.”

The platform then added:

Draper University“Crowdfunding tuition on Indiegogo Life can also be great experience for pitching your business to investors., except your contributors don’t expect anything but your happiness and success in return! Upload a video, share your story, and let your personality shine. It should be obvious at this point that launching a strong crowdfunding campaign is very similar to launching a business and can be a strong proof point that demonstrates you have what it takes to be a successful entrepreneur.

 

“Indiegogo Life will provide you fantastic knowledge for developing a network and raising capital. It will push you to think through the finer details of your business plan and polish an idea that’s ready for market. If your campaign is successful, you will have sharpened your startup idea and established your goals before you even step through our doors.

 

“We encourage all future students to take advantage of this opportunity. With an effective crowdfunding campaign under your belt, you’ll hit the ground running when it comes time to pitch your ideas to private investors.”

 

 

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