UpEffect is unlike any other crowdfunding platform. When founders submit an application and say, “we are changing the world,” we ask them “how?” We probe entrepreneurs about their supply chain, their beneficiaries, their impact numbers and their financials. This comprehensive due diligence survey allows the UpEffect team to focus our efforts on empowering a select number of entrepreneurs. While our initial calls with founders can feel like an intense audit, our subsequent calls are akin to old friends working together to bring ideas to life.
UpEffect selects companies based on skills of the management team, the potential for growth over the next five years of trading, the potential to achieve social impact and commitment to a crowdfunding campaign. Selected companies then work with our Success Team to convert their idea into an UpEffect crowdfunding campaign and take their product to market.
We look for innovations dedicated to improving human lives. We want to know that you have validated your innovation through extensive market research. Your product should fill a gap that no one else is filling and you should be the best person to do the job.
Sustainability is the ability to do good for a long time. We believe that profit is an enabler for businesses, particularly mission-driven companies. We look for strong revenue streams to sustain a company's impact.
It's so easy to say "I want to change the world" but very few people answer the 'how'. How will you improve lives through your innovation? What global problem will you solve to support communities? How will you measure your impact month-on-month? These are examples of the type of questions we ask our campaign creators to understand before they launch a campaign.
As with any business, one of the core factors which influences an investor’s decision to fund a company is the team. We see crowdfunding as no different. Crowdfunding is not easy and we want to ensure your team is equipped to make it a success which is why we carefully assess team credibility.
The Supply Chain/Fair Trade
Some companies have a warm and fuzzy marketing message but we want to know what your business is like on the inside, how do your processes measure against ethical requirements and expectations of funders? What is your carbon footprint? What is your workforce compensation like? What suppliers do you have on board? If you can confidently answer these questions and prove that you're clean from the inside out, you're already thinking like a social entrepreneur.
Beyond this, we require the following criteria to have been met:
- Be a legal, registered enterprise
- Be willing to provide references in support of your application should they be requested
- Be based in a country where Stripe for Business is available