What is Wayblaze?
Wayblaze is an innovative crowdfunding and community engagement platform that brings citizens, local governments, entrepreneurs and community organizations together to solicit ideas and fund initiatives that people really want/need in their community. By harnessing the power of the crowd, 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 engage my community on particular topics using Wayblaze?
Wayblaze can also be used to run engagement campaigns to solicit ideas from local residents, for example, on how to revitalize the downtown or expand local food production. Please contact Rob Barrs, Wayblaze Director of Planning at 604-999-1283 or firstname.lastname@example.org.
How can I contribute to a project I like?
If you want to contribute to a crowdfunding campaign, simply click on the “Contribute Now” button and then proceed to the payment page where you can pay with your credit card. If the project is a threshold campaign, we pre-authorize your payment and your credit card will only be debited when the project you are funding reaches its minimum funding threshold. If that minimum amount is not reached before the deadline, the pre-authorization amount will be removed from your credit card. If the project does not have a threshold, your credit card is charged immediately.
How much does it cost to raise money on Wayblaze?
The cost depends on what type of organization you are and what type of campaign you are running, as follows:
- If you are running a donations campaign, we charge 0% commission on funds raised.
- If you are a non-profit organization running a rewards campaign, the commission is 0%
- If you are a for profit company running a rewards, debt or equity campaign, the commission is 5%
Note that for any 0% commission campaigns, we rely on the generosity of backers to provide a tip to help cover our costs. For all campaigns, regardless of commission level, there is a payment processing fee of 3.4% plus $0.30 on each transaction, which we must pay to our payment processing provider.
What happens if I don’t reach my fundraising target?
You can choose one of three types of campaigns:
- Campaigns that have a fundraising goal and a threshold (no money is contributed unless the threshold is reached)
- Campaigns that have a fundraising goal but no threshold
- Campaigns that have no fundraising goal and no threshold
If you selected option 1 and your project does not reach the target amount by the target date, credit card pre-authorization pledges will be cancelled and you will receive no funds. In this case no fees will be charged by Wayblaze. However, if you selection Option 2 or 3, you receive all backer contributions immediately, less any processing fees and/or commissions. Note that Wayblaze does not hold any funds in trust for any projects. All funds are handled by our third party payment processor.
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, Alberta, Saskatchewan, Manitoba and Ontario only), Wayblaze relies on the start-up crowdfunding registration and prospectus exemption available under BC Instrument 45-535, Alberta instrument BO 45-521, Saskatchewan instrument GO 45-929, Manitoba instrument BO 45-502, and Ontario Instrument 45-506. Under these exemptions, project owners can raise up to $250,000 CAD twice per year. Funders can invest up to $1,500 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.
If you run a debt or equity campaign, backers have 48 hours after making their investment to change their mind. If the decide to cancel their investment you will be required to return all of their funds to them as soon as possible and no later than 48 hours from the time that they notify you that they have changed their mind.
Who is responsible for completing a successfully funding project?
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.