You are here for capital, right? (scroll to the bottom to see two funded projects)
Let’s explore how this service works step-by-step to ensure you get what you need. This platform offers fundraising services to anyone with a business idea or other profit-oriented project. That means you give us your project and we present it to donors, philanthropists and strategic investors who contribute various amounts of money until your entire budget is covered. Business capital raised this way does not attract interest or require repayment of the principle.
We expect you to have certain qualities including a realistic business idea, the skills to implement it and the commitment to tackle challenges that businesses present.
To ensure we accept the request you will make and present your project to people who will support it with their money, you need to complete a couple of evaluation procedures.
- Prepare your Proposal Correctly
- Prepare your MavenCORE Account Fully
Preparing Your Proposal
Estimate Your Budget
Determine the total capital your project requires. We prefer projects with budgets between Ksh50,000 and Ksh20,000,000. You have to break down your capital requirement into an itemized budget so that people can understand where and how you intend to use their money.
Remember to indicate the minimum required for your project to start. In your budget remember to factor in the 12.5% fee that MavenCORE crowdfunding deducts from the total raised to cover the costs we incur mobilizing people to support your project.
Do You Have 10 Percent of the Budget?
Or You Would Rather Pay An Access Fee
Before people start contributing to your business, they want to know how committed you are. If you are putting in some of your own money, the interest is higher than if you expect them to cater for everything.
We encourage people to cover at least 10% of the capital the project requires. 10% means that if you are looking to raise 1 million for your business, you already have at least 100,000. The more of your money you are putting in your own project, the better. Contributions need not be cash – capital items such as land, a house, vehicles, or machinery that you intend to use for the same project, count as a capital contribution.
However, lacking 10% is not the end. You can buy MavenCORE membership instead for just Ksh5,000 which is sufficient proof that you are fully committed to the project – you can even use a Mavencore coupon code to get a 50% discount on this membership.
Write Down Your Proposal
A proposal is a highlight of what you want to do, how you want to do it, and what you hope to achieve. It’s a story of the journey to future success. We use this story to inspire people to support you by contributing money. Note, this is not a business plan – so try not to be too technical. However, have sufficient relevant details for people to understand what you intend to achieve.
Use our proposal questionnaires to create your proposal.
Set a Duration
This is one area that really mixes up people. While you may want to start your business project tomorrow, the people who will support you are not necessarily in a hurry to contribute. So give yourself sufficient time. At least 180 days are the recommended duration.
Prepare Your Documents
Various documents may be necessary depending on what project you have or how you want to present your capital contribution. For example, in case you want to include some assets as your contribution, you must present ownership documents to MavenCORE for verification that indeed you have them.
Read more about contributing to your own project to understand this requirement.
Proofread and Grammar Check
Good grammar makes you appear professional. Make sure you proofread and grammar-check your proposal before submission. There are several free online tools to help you do so.
Do you know that MavenCORE can help write the proposal for FREE? If you share one of our surveys with 5 people on WhatsApp, we’ll write the proposal professionally for you. Message us on WhatsApp.
Preparing Your MavenCORE Account
Registration & Activation
You must be able to log in and manage your project on the Mavencore website so that you can track as the money for your project comes in and respond to any feedback from contributors. Its easy to register – you only need a valid email address since the activation link is sent to your email.
Activate MavenCORE Wallet
Deposit Ksh5000 in your wallet MavenCORE wallet to activate it. You can later use this money for different purposes like contributing to your own project (if you want us to raise up to 90% for you) or buying Mavencore membership if you want us to raise 100% of the capital.
*Note: there are Mavencore coupons that reduce the deposit required to Ks2500.
Submit Your Proposal
Once your proposal and account are ready, submit your proposal so that we can start pitching it to Philanthropists, Strategic Investors, and Donors. Money is contributed directly through your project page so you will full knowledge of what is happening as it happens. Some contributors may leave feedback so make sure you keep checking what happens to your project.