What is Wayblaze?
Wayblaze is an innovative crowdfunding platform that brings citizens, local governments, entrepreneurs and community organizations together to fund projects and initiatives that people really want/need in their community. By harnessing the power of the crowd to shape, vote and fund those local projects, we help create better, more sustainable places and more engaged citizens.
What kinds of projects does Wayblaze focus on?
Typical projects include affordable housing, alternative energy systems, sustainable real estate projects, public art, civic spaces, local business ventures, habitat restoration, cycling infrastructure, park amenities, community buildings – any initiative that improves a community and is accessible to a good number of residents. Projects can range from small neighbourhood initiatives to multi-million dollar energy and real estate projects.
How can I use Wayblaze to raise money for my community project?
If you want to raise money for a project in your community, simply click on the “Take Action” tab in the header and then click on “Raise funds for a project.” Complete the simple application form and we will respond within 48 hours to let you know if your project is suitable for the Wayblaze platform. If it is approved, we will send you a link to guide you through the process of completing your pitch as well as some crowdfunding tips.
How can I share information about an inspiring community project?
If you want to share an inspiring project or local business, click on the “Take Action” tab in the header and then click on “Add an inspiration.” You will need to sign up before you can submit an inspiration. Once submitted your inspiration will be immediately live on our website where you can share it with your friends.
How can I solicit ideas from my community on particular topics?
If you want to solicit ideas from local residents, for example, on how to revitalize the downtown or expand local food production, click on the “Take Action” tab in the header and then click on “Start an ideas campaign.” Simply complete the form and submit it to us for a quick review before it is posted to the website.
How can I propose an idea for a new community project?
If you have an idea for a fundable project that you think will improve your community, click on the “Create” tab in the header and then click on “Submit a project idea.” You will need to sign up before you can submit your idea. Once you have submitted your idea it will be immediately live on our website and you can share the idea with your friends.
How can I contribute to a project I like?
If you want to contribute to a particular campaign, you simply click on the “Contribute Now” button and then proceed to the payment page. You can pay either with your credit card or through PayPal. While we pre-authorize your payment, your credit card will only be debited when the project you are funding reaches its minimum funding amount. If that minimum amount is not reached before the deadline, the pre-authorization amount will be removed from your credit card.
How much does it cost to raise money on Wayblaze?
There is no cost to post an inspiration, create an ideas campaign or for backers to contribute to a crowdfunding campaign. If you are running a fundraising campaign on Wayblaze, there is a payment processing fee of 2.9% plus $0.30 on each transaction. For donations and rewards campaigns, there is no platform fee from Wayblaze, however we charge a 5% commission for debt and equity campaigns .
What Happens I don’t Reach my Fundraising Target?
When you set up a crowdfunding project with a funding goal on Wayblaze you must set a fundraising target and a target date. If your project does not reach the target amount by the target date, pledges will be returned and you will receive no funds. In this case no fees will be charged by Wayblaze. However, you also have the option to set up a crowdfunding project without a minimum funding goal. In this case, you receive all backer contributions immediately, less any processing fees and/or commissions.
What types of crowdfunding can I use on Wayblaze?
We offer four types of crowdfunding:
- Donations – make a donation to a project
- Rewards – make a contribution in return for some kind of perk or reward
- Debt – provide a loan that gets paid back over time (usually with interest)
- Equity – become an owner (shareholder) in the project
For the debt and equity projects (BC only), Wayblaze relies on the start-up crowdfunding registration and prospectus exemption available under BC Instrument 45-535. Under this exemption, project owners can raise up to $250,000 CAD twice per year. Funders can invest up to $1500 CAD per project. Wayblaze does not provide any advice or make any claims about the suitability or financial merits of the debt or equity projects presented on our platform.
Who is responsible for completing a successfully funding project?
If a project reaches its minimum funding threshold, it is the sole responsibility of the project proponent to complete the project and distribute and rewards that it has promised to the backers. Wayblaze does not offer any warranties about the technical, logistical or financial merits of the project. It is ultimately the funders who determine that a project is worthwhile and valid by their decision to fund it.