IfundIT Cookbook- Your guide to ifundIT at IBM

IfundIT Cookbook

Your guide to ifundIT at IBM

Choosing a Campaign Mode

When deciding which campaign mode is the best fit for your organization, consider your budget and how many people you want to participate. Also think about the outcomes you envision for your funded projects: are you looking for many, more modest ideas, or a handful of well-developed complex ones? Do you want to prioritize employee engagement and idea vetting over concrete deliverable innovation? Do you want innovators to collaborate and work together to refine their projects, or have them compete against one another for the most investor support?

It's important to note that these campaign modes are a product of our experiences with ifundIT, and represent formulations based on continued iteration of our practices and strategies. Your CMO can and should think about adjusting whichever mode you choose to better fit your needs, or even taking elements from each one to create your own.

Fund2Goal: Empowering the Crowd to Make Investment Decisions

Fund2Goal campaigns traditionally have a direct relationship between the funding a project earns during the investing phase and the cost of building it - in other words, investors have direct control over "real money" that will actually go to projects they support. This particular aspect makes Fund2Goal campaigns good for fostering employee engagement and disrupting the traditional decision making process regarding spending in the business world. In essence, with a Fund2Goal campaign, the number of investors is dependent on the size of your budget - this means that these campaigns generally tend to be smaller in size and scope.

Fund2Goal gives you:

  • A funding marketplace to manage
  • Investment that shows "real" funding that projects will receive
  • A list of projects that meet their funding goal vs. those that don't
  • Projects that don't directly compete against one another

TopX: Using the Crowd to Rank Projects

TopX campaigns typically require little to no marketplace management, since the budget for funding projects is not directly tied to the funds given to investors. In other words, there is no differentiation in need between projects in a TopX campaign, therefore, there's no need to regulate funding during the campaign. Because of this, TopX campaigns work best when you want the dollar amount on each funded project to be an indicator of investor support rather than a real dollar amount. In essence, with a TopX campaign, the number of participants is independent from the size of your budget - meaning they can be as big or small as you need.

TopX gives you:

  • No differentiation in funding need between projects
  • Investment that shows investor support, not the real dollar amount that projects will receive
  • Crowd ranking of projects
  • Projects that directly compete to secure a spot in the winning bracket

Learn about planning a timeline next.