Frequently Asked questions


1.What is FundmyPhD.com?

Do you have an amazing idea to solve a world problem? That’s probably one of the reasons you choose to begin a doctoral programme. At FundmyPhD.com we understand that sometimes funding your ideas & dreams is not always easy so we offer you the opportunity to raise the capital you require to fulfill your goals through our Crowdfunding website.

Great ideas often require money in order to make them a reality & we understand that the core ideas within your PhD thesis will eventually make a difference to the commercial world we live in. Crowdfunding gives you the flexibility to raise funds quickly in an entrepreneurial style so that you can focus on the important issues…. completing you doctorate without the financial worries.

We have also linked our website to industries looking to solve a particular problem & our hopes are that we can connect your research to businesses requiring real solutions to the issues they currently face thereby creating the possibility of enabling perfect partnerships for success.

FAQ’s FOR PHD STUDENTS

2.Who can apply for funding on FundmyPhd.com? 

Any PhD student, from anywhere in the world, as long as they are accepted or already enrolled in an accredited university (or educational institution) Doctoral Programme. On our ‘Create a Campaign’ application form you will be required to upload proof that you belong to or have been accepted onto such a programme.

3.What is Crowdfunding?

In the most simplest of terms ‘Crowdfunding’ is the process of raising funds through asking the general public, businesses & philanthropists to donate to a worthy project in order to provide the capital for a new venture to come into fruition. Using our website allows you to pitch your doctoral research proposal directly to any interested parties and to ask them for financial backing. You can build your own web page to host all of the relevant information about yourPhD project. For example, you can upload your research proposal, images, promotional video & slides to engage the interests of the viewer. You can even offer special rewards, known as ‘Perks’ to people who pledge money i.e. a dedication page within you final thesis.

4.Why choose FundmyPhd.com to fund your research?

You will get access to our crowdfunding platform, on which you may be able to raise donations to fund your PhD research. You may also unlock access to businesses & industries who want to fund your studies & offer you a place to conduct your research. Ultimately if your run your campaign well you will get money to study! The connections you make during your campaign could even lead you to your future employer.

5.What do I have to give in return?

It’s very simple, FundmyPhd.com charges a small percentage of the funds raised (see our terms of use for fees) & you must keep your Funders updated & engaged throughout your campaign in order for your campaign to succeed. We recommend you dedicate around 30 minutes per day to your campaign while it is live on the website.

6.What are the advantages of raising funds through Crowdfunding?

Crowdfunding is about giving people the opportunity to be part of something amazing and for them to feel supportive of your research and education. In order to succeed in Crowdfunding, your campaign should be engaging, inspiring & easy to understand in order for people to support you! Offer compelling rewards, know as ‘Perks’, will make the audience want to share your campaign. You won’t be forcing people to fund you if they don’t want to, but they certainly won’t fund you if you don’t give them the chance to do it!

7.How do I start a PhD campaign?

Step 1 – you must be registered as a PhD student or have a letter of intent from an accredited university or institution.

Step 2Login to our website & register your User Profile (you can log in through various social network sites to speed up the process)

Step 3 – click ‘Create a Phd Project’ & follow the instruction on the screen.

Step 4 – once you are happy with the content of your campaign click the Upload button. Once you have submitted your campaign our admin team will review the content, check your credentials & upload your live PhD campaign to the website.

Step 5- once you have a live PhD campaign it’s up to you to stay active by giving your Funders regular updates and information about the progress of your PhD campaign.

8.Is Crowdfunding a lot of work?

The most successful campaigns are usually the most active ones! The more you put in, the more you will get in return. We suggest you dedicate around 30 minutes per day actively engaging with your audience (Funders & support Community) throughout the lifecycle of your PhD campaign.

9.How should I prepare for my Crowdfunding PhD campaign?

Before you begin, decide how much you will need to raise in funding and for how long you want your PhD campaign to run (we recommend 30 days but allow up to 60 days). This cannot change after your PhD campaign has launched.

Tell people why your PhD campaign deserves to be funded. Contributors fund ideas they’re passionate about and support people they trust. Introduce yourself and your background. Describe your research and why it’s important to you. Explain to Funders what you’re hoping to achieve. Keep it concise, yet personal. And be sure to include a pitch video!

You can add additional incentives to encourage funding by offering Perks (or rewards) to your Funders. A perk is something you offer people in exchange for their contribution. Perks give contributors an additional non-monetary incentive to support yourPhD campaign. For more on what you can and can’t offer for perks see our terms of use.

Start telling people about your PhD campaign before it’s launched. In person, through email, on social media, blogs or your website; just get the word out as soon as possible and keep them engaged. This helps turn the launch of your PhD campaign into an anticipated event so that you can start raising funds on the first day of your PhD campaign.

The first 25% of your goal should ideally come from your closest friends, family and fans. Your inner circle includes people who will support your project because they know and believe in you. Use your inner circle to jumpstart your fundraising effort and to spread the word about your PhD campaign.

10.What should my Crowdfunding goal be?

This is a personal choice & we do not restrict funding goals, however, we encourage you to be realistic about the amount you require to complete your PhD studies. You should take into account; tuition fees, rent, courses & seminars you may need to attend & travel costs should your research take you away from home.

Sometimes campaigns raise more money than their goal & if you are lucky enough to have this happen to you – you also get the additional funds to aid your research.

11.How do I create an effective PhD campaign?

After visiting your PhD campaign page Funders should have a clear sense of:

  •  What it is you are trying to do
  •  How you will do it
  •  How the funds will be used
  •  How you intend to complete your research
  •  How far along your project is

The more information you share, the more you will earn your Funders’ trust.

Videos are not mandatory to your pitch, but projects with a video succeed at a much higher rate (50% vs. 30%), and they also raise more money. So we highly recommend that you include one!

12.Can I edit my PhD campaign once it’s launched?

Yes – you are able to edit any of the following, even after launching your PhD project.

  • Project description
  • Project video and image
  • Project FAQs
  • Profile or bio information

(If you would like to edit any of the above please contact us with your changes &  our admin team will take care of it for you.)

However, the following cannot be edited once your PhD project has launched.

  •  Funding goal
  •  Campaign deadline
  •  Campaign profile name
  •  Perk (reward) tiers

13.How do I successful connect with Funders?

Connections usually starts with your friends and family, people you work with or have worked with, your mentors, supporters and people who you know & care about what you’re doing. Ideally, you should be targeting other people outside your community that might have an interest in your research or your studies. Eventually, you may attract backing from the industry that has an interest in trying to solve a business problem relevant to your thesis.

‘Updates’ refer to what is essentially each project’s blog. PhD campaign creators can use updates to keep Funders and their community informed on the development of their project or research.

Some PhD campaign creators may post every day, others may do it rarely, but it’s the best way to keep Funders informed of a project’s progress. We encourage you to include media in your updates – you can use video or slides to update on your progress

14.How do I build effective rewards/perks?

Perks enable you to engage your audience, build trust and provide an opportunity for more people to get involved. You can offer one-of-a-kind experiences, special acknowledgments or limited supply products. Use your Perks to increase demand for your PhD campaign.

Perks can be personal, unique or offer a tangible benefit to your Funders. We recommend offering limited-quantity or limited-time-only perks to help spark interest and demand.

Offer your Funders a range of perks at different levels. We recommend offering more perks at lower amounts. Many campaigns offering goods or services price their perks above the market value of the item. This helps Funders understand that they’re not just buying something; they’re investing in an idea. If you’re sending something in the mail, be sure to include the cost of shipping in the price of the perk.

At the end of your PhD campaign, you must fulfill any perks promised to your Funders. Collect their contact information on the ‘Campaign Funder’ tab of your Dashboard. Send an update to let them know when their perks will arrive.

 15.How can social media help me?

Social media and Crowdfunding go hand in hand. If you’ve come across a campaign that’s getting a lot of buzz and backers, odds are the campaign creator has cracked the code to spreading the word via social media.

Sending Email Blasts

Use your LinkedIn connections and export their email addresses from the system to send out an email blast.

Create A Central Hub

Create a Facebook fan page specifically for your PhD campaign where people can see what was happening. A central location is always easier to manage since not everyone is guaranteed to see your tweets or Facebook status updates.

Give Your Funders & Community The Tools They Need To Help You

Invite you’re my most social media active friends and followers to help you out. If you are running a 30 -60 day PhD campaign chose to send out a mass emails encouraging everyone to get involved in any way they can by sharing the information about the PhD campaign. Write sample emails, tweets and posts that each person could use during the campaign.

Show Your Gratitude

Post a “thank you” to all new Funders. Friend them on Facebook and then tag them in the post. Be authentic and show gratitude, as people generally respond very well to appreciation.

Keep It Visual

Research suggests that visual media is the key to Crowdfunding success. Where ever possible we encourage you to update your social media posts with a video or photo to keep interest high.

16.What happens once my PhD campaign has finished?

After your PhD campaign has finished, post an ‘Update’ or send an email to thank your Funders. If possible, send each Funder a personal thank you. You can find your Funders’ contact information on the ‘Campaign Funder’ tab of your Dashboard. Be sure to include information about when they will receive their perks and how to get in touch with you.

We recommend that you send off your perks as soon as you receive a contribution. If this isn’t possible, try to send perks within a few days or weeks after your PhD campaign has ended. Update your Funders to let them know when they can expect their perks to arrive. It’s vital to keep your Funders informed about the status of their perks, especially if your project falls behind schedule. Campaign owners are required by FundmyPhD.com terms of use to fulfill all perks that have been claimed.

We don’t charge you any fees until you raise money. Our platform fee is 5% of funds raised if you meet your goal, or, 9% if you don’t. In addition to our platform fee, campaigns will be charged any fees incurred on each contribution for payment processing of foreign currencies (we are a UK based company operating in GBP’s). For more information about fees and pricing, see our terms of use, Pay Pal link www.paypal.com/uk/webapps/mpp/cross-border-and-conversion-fees#crossborder or check with your bank. Any money donated to your PhD campaign will be held in a holding account until your PhD campaign closes. All fees will then be deducted from the final amount raised.

Funds raised through your PhD campaign (minus all fees) will then be sent to your bank account or PayPal account depending on your preference. Funds raised by credit card & Pay Pal will be held until the end of your PhD campaign and then disbursed to your bank account or PayPal account as a lump sum. It can take up to 2 weeks for your funds to arrive in your account after your PhD campaign deadline.

FAQ’s FOR POTENTIAL FUNDERS

1.Who can fund a PhD campaign?

Anyone over the age of 18 who holds a bank account/PayPal account or major credit/debit card.

2.What is the minimum/maximum I can donate?

We encourage you to donate whatever amount you feel comfortable giving.  All donations are greatly appreciated & will be used for a good cause. We give our PhD campaign creators the option to select multiple pledge levels for their PhD campaigns and you may select an amount from the options given (on the checkout page there is also the option to give multiple donations). Single donations are restricted by PalPal guidelines allowing no more than £1190 GBP’s ($2000 USD) per day.

3.Are my payment details safe with FundmyPhd.com?

Absolutely, FundmyPhd.com uses a secure payment gateway which is operated by PayPal.

4.Where will my money go if I fund a PhD campaign?

At the end of the PhD campaign all funds raised are sent to the student’s bank account or PayPal account. The student is responsible for managing the fund in order for the student to complete their research proposal. All student using our service are required to prove they are currently registered on a PhD programme or have a letter of intent from at an accredited university or educational institution.

5.How does FundmyPhd make its money?

 FundmyPhd takes a small percentage of the overall campaign funds to cover our costs. For more information see our terms of use.

6.How many different PhD campaigns can I fund?

This is down to your personal choice. You can contribute to as many campaigns as you want – see which campaigns engage your interest!

7.Do I receive any tax relief?

This is subject to the tax laws within you country of residence. For more information see our Terms of Use. In the UK donations, which do not involve Perks, may be eligible for Gift Aid.

8.Don’t PhD student in the UK receive funding?

Funding streams for a doctoral study is very limited & very often students have to self fund their research. This is the main reason we chose to start FundmyPhd.com

9. Will donors receive an equity share in the research or PhD projects?

No – there is no equity share for any potential Funders in the students PhD research.

10.How are donations managed?

Any donations pledged to a PhD campaign will be held until the end of the PhD campaign (campaign limit is currently set at no more than 60 days although we are recommending student to run their campaigns for no more than 30 days). The money would then be collected via our online payment gateway (which supports donations through Pay Pal & major credit/debit cards) & the funds donated will be sent to the student’s bank account or PayPal account.

11.How is the Funders money protected if the PhD students do not complete the PhD programme, project or even if the Crowdfunding platform collapses?

All PhD students using our service are vetted & their credential’s are checked & verified to ensure that they are registered on a PhD programme at an accredited university or educational institution. Funders’ donate money at their own risk however, in order for a student to be accepted on to a PhD programme a rigorous application process has already been undertaken by the student. Becoming a PhD  students is not an easy process so the risks are considered low that a student would endeavor to start a PhD programme not wanting to finish the process or complete their research.

If the Crowdfunding platform collapses mid PhD campaign then no money would be taken from any Funder’s as the money is not drawn until the end of the PhD campaign.

GENERAL QUESTIONS

1. How do I delete my FundmyPhD account?

If you wish to close your account with us for any reason please use the contact us link to email your request & our admin team will remove your details from the system and close your account.

2. How do I delete my PhD Project Campaign?

You may ask us to delete your PhD Project Campaign so long as there have been no Funders to your campaign by using the contact us link provided. It is not possible to delete any Campaign once a project has received any form of funding.

 IF YOU HAVE ANY ADDITIONAL QUESTIONS PLEASE EMAIL US THROUGH OUR ‘CONTACT US‘  LINK & WE WILL GET BACK TO YOU ASAP