What is “fundmy150”?
fundmy150 is an exciting part of Colleges and Institutes Canada’s (CICan) celebratory project for Canada’s 150th anniversary. It’s a crowdfunding platform through which students can raise modest resources to grow existing projects and launch new ideas that enhance campus and community life.
What is crowdfunding?
Crowdfunding is the practice of funding a project or venture through small donations from a large number of people. Rather than seeking large lump sums from any one organization, regular people can share a project, set a goal, and raise money little by little to see their project become a reality.
Who can submit?
Any currently enrolled, full-time, part-time, domestic, or international student at any CICan member institution across the country can submit a project.
What do I need to submit a project?
When signing up, users must log-in with their college or institute email address.
The most important thing when submitting is to have a clear idea of what your project is, your timeline, your funding goal, and how this project will positively impact your community.
Who can support projects?
Anyone can support projects – friends, family, colleagues, mentors, teachers, even strangers – anyone who likes your idea and wants to help. A credit card is required.
What kind of projects will be accepted? What restrictions will be placed on projects? What constitutes a project? Are all projects accepted?
fundmy150 is designed to support modest student projects that enhance community and campus life.
When thinking of projects, let your imagination run wild! Have you ever wanted to give back to your local community? Maybe you want to get a group together and knit scarves and mittens for the less fortunate, or print a calendar to raise awareness for mental health – fundmy150 can help you bring your project to life by raising money to buy supplies and cover other costs.
Use common sense when thinking about restrictions on projects – nothing illegal, and you can’t raise money to buy firearms. Projects should create a positive change in your community! If you have a specific concerns regarding any aspect of your project, write to us here.
All projects are subject to approval, and fundmy150 ultimately has the final say – but as long as your project follows these guidelines, you should be in the clear.
Projects should have a budget of no more than $1,000 with clearly defined goals – (e.g. How much does printing cost? How much do I need for supplies per person? etc.)
How do I submit a project?
Visit the Submit page to get your project started! Fill out the form with your administrative, project, and fundraising details – the more information you have on your project, the better! Be sure to include images and even a video if you have one.
Click on ‘Submit’ to complete your submission. Our team will review your submission within 48 hours and if your project meets our submission guidelines, your campaign will be launched.
How do I support a project?
Select ‘Fund this project’ on the project page or select ‘Donate’ on any of the donation levels available.
Step 1: Fill out the donation form and select ‘Confirm Details’.
Step 2: Confirm your details and select ‘Proceed’ to enter your payment information (via Stripe).
Step 3: Confirm your payment! You may choose to add your name to the Donor Wall at this point.
And it’s as simple as that!
Is fundmy150 acquiring intellectual property of any of the ideas submitted on its platform?
No, fundmy150 does not acquire any intellectual property rights for any ideas submitted through the platform. That’s the beauty of it! Any students hoping to launch new companies or entrepreneurial ideas through fundmy150 will retain 100% ownership of their projects.
Does fundmy150 ensure that projects displayed on its platform meet the region’s laws and regulations, or that its promoters have the necessary licenses and permits?
No, while fundmy150 reserves the right to refuse any project deemed inappropriate, or which breaks any of the rules outlined for prohibited items, etc., the responsibility lies with the submitter to ensure that their project is compliant with local and national laws.
For example, if your project involves setting up a lemonade stand, or busking on a street corner or in a transit station, you must ensure that you have obtained all necessary permits.
What happens if a fundraising campaign reaches its goal before its due date? What happens if a project does not reach its goal?
If a campaign reaches it fundraising goal before its goal, the campaign stops; funders cannot continue to support campaigns in excess of $1,000.
Campaigns that do not reach their goal will be considered on case by case basis. Contact us for more details.
What fees are taken from my donation? Does fundmy150 keep a percentage of the funds as a commission
No fees are taken from donations, and fundmy150 does not keep a percentage of the funds as a commission; 100% of donations goes directly to support the project.
Does my donation qualify for a tax receipt?
No, donations do not qualify for tax receipts.