ifundIT leverages enterprise crowdfunding through designated campaigns, in which investing occurs over a set period of time. This period can be as short as a single week, as was the case in Cognitive Build (LINK HERE) or as long as a few months, or even more. When planning out a timeline for your campaign, keep in mind that you can use this flexibility to your advantage. There are a few main factors to consider as you configure your campaign timeline: the duration, and whether you want your campaign to be continuous or fixed-start.
One of the first decisions you will make concerns the duration of your campaign - this will play a large role in setting the scale of your campaign, which will in turn affect its' outcomes. A shorter campaign of around a week or two creates a high-stakes environment more similar to a hackathon or idea jam, in which innovators feel a time pressure to get their idea out and in front of investors, who only have a limited time to decide who will get their support. A longer campaign gives innovators more time to develop their idea, and investors more time to thoughtfully consider how to invest.
In addition to duration, you also need to consider the manner in which you accept project submissions. If you want to create a more traditional crowdfunding environment, you might elect to make your campaign continuous. Essentially, this means that your campaign will accept project submissions at any time, and that each project has until its expiration date to get funding. In our experience, this configuration seems more at home with a Fund2Goal campaign.
The alternative to a Continuous campaign is a fixed-start one, in which all projects must be submitted on the same date, and investors have a set amount of time to give funding to projects before investing closes. Historically, most of IBM's TopX campaigns have been fixed-start, though Fund2Goal campaigns can also be effective under this framework. Running a fixed-start campaign will allow you to strategize around project submission and investment happening all at once, which may be valuable to your organization, if you want to push ideas into the development pipeline faster.
Learn about setting requirements next.